J.C. Penney Company, Inc. Holding Company (JCP) Trading Up 15.3% Following Strong Earnings

J.C. Penney Company, Inc. Holding Company (NYSE:JCP) was up 15.3% during mid-day trading on Monday following a stronger than expected earnings report. The company traded as high as $3.29 and last traded at $3.17. Approximately 54,370,100 shares changed hands during trading, an increase of 182% from the average daily volume of 19,264,994 shares. The stock had previously closed at $2.75.

The department store operator reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.10. J.C. Penney Company, Inc. Holding 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 analyst estimates of $2.77 billion. During the same quarter in the prior year, the firm earned ($0.21) EPS. The company’s revenue was down 1.8% on a year-over-year basis.

JCP has been the topic of several recent research reports. Citigroup Inc. raised their target price on shares of J.C. Penney Company, Inc. Holding from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. BidaskClub raised shares of J.C. Penney Company, Inc. Holding from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $4.00 target price on shares of J.C. Penney Company, Inc. Holding in a research note on Thursday, September 14th. Northcoast Research lowered shares of J.C. Penney Company, Inc. Holding from a “buy” rating to a “neutral” rating in a research note on Monday, October 30th. Finally, Deutsche Bank AG raised their target price on shares of J.C. Penney Company, Inc. Holding from $5.50 to $6.50 and gave the company a “hold” rating in a research note on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $5.03.

In other J.C. Penney Company, Inc. Holding news, Director Javier G. Teruel acquired 135,135 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were bought at an average cost of $3.64 per share, for a total transaction of $491,891.40. Following the completion of the acquisition, the director now directly owns 518,970 shares of the company’s stock, valued at $1,889,050.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul J. Brown acquired 25,000 shares of the stock in a transaction dated Monday, August 21st. The stock was acquired at an average price of $3.62 per share, for a total transaction of $90,500.00. Following the completion of the acquisition, the director now directly owns 68,123 shares of the company’s stock, valued at $246,605.26. The disclosure for this purchase can be found here. Insiders bought 310,135 shares of company stock worth $1,111,391 over the last quarter. 1.02% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tudor Investment Corp ET AL grew its stake in shares of J.C. Penney Company, Inc. Holding by 12.8% in the first quarter. Tudor Investment Corp ET AL now owns 22,900 shares of the department store operator’s stock valued at $141,000 after buying an additional 2,600 shares in the last quarter. Blair William & Co. IL grew its stake in shares of J.C. Penney Company, Inc. Holding by 3.1% in the second quarter. Blair William & Co. IL now owns 33,625 shares of the department store operator’s stock valued at $156,000 after buying an additional 1,000 shares in the last quarter. Quinn Opportunity Partners LLC grew its stake in shares of J.C. Penney Company, Inc. Holding by 13.9% in the second quarter. Quinn Opportunity Partners LLC now owns 40,900 shares of the department store operator’s stock valued at $190,000 after buying an additional 5,000 shares in the last quarter. Pinebridge Investments L.P. bought a new position in shares of J.C. Penney Company, Inc. Holding in the second quarter valued at $190,000. Finally, US Bancorp DE grew its stake in shares of J.C. Penney Company, Inc. Holding by 1.7% in the second quarter. US Bancorp DE now owns 63,629 shares of the department store operator’s stock valued at $296,000 after buying an additional 1,054 shares in the last quarter. Institutional investors own 70.46% of the company’s stock.

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 $969.51, a P/E ratio of 11.32 and a beta of 0.53.

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J.C. Penney Company, Inc. Holding Company Profile

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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