The high-yield issue of debt has a 5.65% coupon and will mature on June 1, 2020. The bonds in the issue are now trading at $90.50 and were trading at $86.75 last week. Price moves in a company’s debt in credit markets often predict parallel moves in its share price. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Holding Company (NYSE:JCP). The opening trade occurred at $8.51 and the highest and the lowest points of the day were $8.69 and $8.44 respectively.
BMO Capital increased its price target on J.C. Penney to $8 from $7. Octafinance place SELL rating on the stock based not only because Brynn’s transaction, but also on our time momentum model which is presented below.
J C Penney management maintained its forecast for the company to break-even cash flow in 2015, despite an elevation in revenue and gross margin guidance provided by the company. The stock closed at $8.55 yesterday and it had average 2 days volume of 4092324 shares. Analysts at Vetr upgraded shares of J C Penney Company from a "sell" rating to a "hold" rating and set a $7.88 price target on the stock in a research note on Thursday. Analysts at Citigroup Inc. reiterated a "market perform" rating on shares of J C Penney Company in a research note on Saturday. J C Penney’s current market cap stands at $2.49 billion.
The most recent analyst actions consisted of UBS downgrading the stock on October 13th and Maxim Group initiating coverage with a downgrading rating back in October. The company reported ($0.57) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.77) by $0.20.
Macy's reported a weaker-than-expected Q1 results on Wednesday in which same-store sales dropped 0.1 percent and operating income fell to $409 million from $443 million in the same quarter a year ago. Mcglinn Capital Management Inc. is another bullish asset manager owning 157,800 shares of the company or 2.43% of their stocks portfolio. J C Penney Company has a consensus rating of "Hold" and a consensus target price of $7.87.
JC Penney reported Q1 2015 earnings that surpassed the consensus estimate and narrowed its net losses significantly compared to the prior-year quarter. The company sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, and home furnishings, as well as provides various services, including styling salon, optical, portrait photography, and custom decorating.