J.C. Penney (JCP) Bonds Trading 1.2% Higher

An issue of J.C. Penney Company, Inc. Holding Company (NYSE:JCP) bonds rose 1.2% against their face value during trading on Monday. The debt issue has a 5.875% coupon and will mature on July 1, 2023. The debt is now trading at $96.44. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its stock price.

Several brokerages have commented on JCP. BidaskClub cut shares of J.C. Penney from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Jefferies Group set a $4.00 price target on shares of J.C. Penney and gave the stock a “hold” rating in a research note on Friday, August 11th. Citigroup decreased their price target on shares of J.C. Penney from $5.00 to $4.00 and set a “neutral” rating on the stock in a research note on Monday, August 14th. Cowen set a $6.00 price target on shares of J.C. Penney and gave the stock a “hold” rating in a research note on Friday, August 11th. Finally, Piper Jaffray Companies set a $4.00 price target on shares of J.C. Penney and gave the stock a “hold” rating in a research note on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $4.64.

J.C. Penney Company, Inc. Holding Company (NYSE JCP) traded up $0.04 during trading on Monday, hitting $3.40. 15,735,441 shares of the stock were exchanged, compared to its average volume of 19,096,902. J.C. Penney Company, Inc. Holding Company has a 12-month low of $2.35 and a 12-month high of $10.74. The company has a debt-to-equity ratio of 3.95, a quick ratio of 0.16 and a current ratio of 1.44. The company has a market cap of $1,046.88, a P/E ratio of 12.00, a PEG ratio of 2.76 and a beta of 0.57.

J.C. Penney (NYSE:JCP) last posted its earnings results on Friday, November 10th. The department store operator reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.10. J.C. Penney had a negative net margin of 1.43% and a positive return on equity of 7.60%. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the previous year, the firm posted ($0.21) EPS. The business’s quarterly revenue was down 1.8% on a year-over-year basis. sell-side analysts forecast that J.C. Penney Company, Inc. Holding Company will post 0.08 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Griffin Asset Management Inc. bought a new stake in shares of J.C. Penney in the 3rd quarter worth about $644,000. California Public Employees Retirement System grew its holdings in J.C. Penney by 24.7% during the 3rd quarter. California Public Employees Retirement System now owns 1,544,500 shares of the department store operator’s stock valued at $5,885,000 after purchasing an additional 306,267 shares during the last quarter. Pinebridge Investments L.P. grew its holdings in J.C. Penney by 802.7% during the 3rd quarter. Pinebridge Investments L.P. now owns 368,458 shares of the department store operator’s stock valued at $1,404,000 after purchasing an additional 327,641 shares during the last quarter. Keel Point LLC grew its holdings in J.C. Penney by 100.0% during the 3rd quarter. Keel Point LLC now owns 108,000 shares of the department store operator’s stock valued at $411,000 after purchasing an additional 54,000 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in J.C. Penney by 52.4% during the 3rd quarter. SG Americas Securities LLC now owns 3,585,977 shares of the department store operator’s stock valued at $13,663,000 after purchasing an additional 1,232,229 shares during the last quarter. Hedge funds and other institutional investors own 73.10% of the company’s stock.

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About J.C. Penney

J. C. Penney Company, Inc is a holding company. The Company’s business consists of selling merchandise and services to consumers through its department stores and its Website at jcpenney.com. Its department stores and Website generally serve the same type of customers, its Website offers virtually the same mix of merchandise as its store assortment and other categories, and its department stores generally accept returns from sales made in stores and through its Website.

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