Guggenheim Securities Initiates Coverage on J C Penney Company Inc to Neutral

Guggenheim Securities Initiates Coverage on J C Penney Company Inc(NYSE:JCP). The shares have been rated Neutral. The rating by Guggenheim Securities was issued on Sep 30, 2016.

In a different note, On Aug 18, 2016, Morgan Stanley said it Maintains its rating on J C Penney Company Inc. In the research note, the firm Raises the price-target to $7.50 per share. The shares have been rated ‘Underweight’ by the firm.

J C Penney Company Inc (JCP) shares turned negative on Tuesdays trading session with the shares closing down -0.02 points or -0.22% at a volume of 1,15,96,295. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $9.08. The peak price level was also seen at $9.08 while the days lowest was $8.86. Finally the shares closed at $8.99. The 52-week high of the shares is $11.99 while the 52-week low is $6. According to the latest information available, the market cap of the company is $2,766 M.

J C Penney Company Inc(JCP) last announced its earnings results on Aug 12, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.92B. Analysts had an estimated revenue of $2.93B. Earnings per share were $-0.05. Analysts had estimated an EPS of $-0.15.

Several Insider Transactions has been reported to the SEC. On Aug 25, 2016, Marvin R Ellison (CEO) purchased 50,000 shares at $9.92 per share price.Also, On May 17, 2016, Ronald W Tysoe (director) purchased 25,000 shares at $7.24 per share price.On May 18, 2015, Brynn Evanson (EVP, HR) sold 6,761 shares at $8.44 per share price, according to the Form-4 filing with the securities and exchange commission.

J. C. Penney Company Inc. (JCPenney) is a holding company. The Company’s operating subsidiary is J. C. Penney Corporation Inc. (JCP). The Company’s business consists of selling merchandise and services to consumers through its department stores and Website at which utilizes applications for desktop mobile and tablet devices. The Company’s online customer purchases by direct shipment to the customer from its distribution facilities and stores or from its suppliers’ warehouses and by in store customer pick up. The Company sells family apparel and footwear accessories fine and fashion jewelry beauty products through Sephora inside JCPenney and home furnishings. The Company’s department stores provide its customers with services such as styling salon optical portrait photography and custom decorating.

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