Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

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Passing this info as a caution: J.C. Penney Co. Price Target Lowered to $2.50 at Imperial Capital (JCP)

http://www.mideasttime.com/j-c-penney-co-price-target-cut-to-2-50-jcp/64096/
Posted by Shayan Afkhami on Feb 7th, 2014 // No Comments
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J.C. Penney Co. Inc. logoImperial Capital decreased their price objective on shares of J.C. Penney Co. (NYSE:JCP) from $5.00 to $2.50 in a research note issued on Friday, StockRatingsNetwork reports. The firm currently has an “underperform” rating on the stock. Imperial Capital’s target price would suggest a potential downside of 55.83% from the company’s current price. The analysts noted that the move was a valuation call.

J.C. Penney Co. (NYSE:JCP) traded up 2.12% during mid-day trading on Friday, hitting $5.78. 11,373,776 shares of the company’s stock traded hands. J.C. Penney Co. has a 52-week low of $4.90 and a 52-week high of $23.10. The stock has a 50-day moving average of $7.27 and a 200-day moving average of $9.9. The company’s market cap is $1.761 billion.

J.C. Penney Co. (NYSE:JCP) last posted its quarterly earnings results on Wednesday, November 20th. The company reported ($1.81) earnings per share for the quarter, missing the analysts’ consensus estimate of ($1.72) by $0.09. The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter last year, the company posted ($0.93) earnings per share. J.C. Penney Co.’s revenue was down 5.1% compared to the same quarter last year. Analysts expect that J.C. Penney Co. will post $-6.07 EPS for the current fiscal year.

A number of other firms have also recently commented on JCP. Analysts at Morgan Stanley cut their price target on shares of J.C. Penney Co. from $6.00 to $4.00 in a research note to investors on Wednesday. They now have an “underweight” rating on the stock. Separately, analysts at Deutsche Bank reiterated an “in-line” rating on shares of J.C. Penney Co. in a research note to investors on Tuesday. Finally, analysts at Craig Hallum initiated coverage on shares of J.C. Penney Co. in a research note to investors on Friday, January 17th. They set a “sell” rating on the stock. Nine analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. J.C. Penney Co. presently has a consensus rating of “Hold” and a consensus target price of $10.24.

J. C. Penney Company, Inc (NYSE:JCP), is a holding company.