Goldman Cuts Numbers on J. C. Penney (JCP) as Dream Team Breaks-Up
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Price: $18.01 -4.15%
Rating Summary:
4 Buy, 14 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
4 Buy, 14 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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J. C. Penney's (NYSE: JCP) management "dream team" is breaking up and analysts at Goldman Sachs are using the opportunity to take down numbers.
After the close, the retailer announced that President Michael Francis will leave the
company effective immediately. Goldman said the departure "likely suggests persistent weakness in top-line trends on the heels of 1Q’s disappointing -19% comps."
Goldman cut FY12/FY13/FY14 EPS estimates to $1.05/$1.90/$2.40 from $1.45/$2.30/$2.78.
The firm's price target goes from $31 to $27, while their Neutral rating was maintained.
For an analyst ratings summary and ratings history on J. C. Penney click here. For more ratings news on J. C. Penney click here.
Shares of J. C. Penney closed at $24.33 yesterday, with a 52 week range of $23.14-$43.18.
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After the close, the retailer announced that President Michael Francis will leave the
company effective immediately. Goldman said the departure "likely suggests persistent weakness in top-line trends on the heels of 1Q’s disappointing -19% comps."
Goldman cut FY12/FY13/FY14 EPS estimates to $1.05/$1.90/$2.40 from $1.45/$2.30/$2.78.
The firm's price target goes from $31 to $27, while their Neutral rating was maintained.
For an analyst ratings summary and ratings history on J. C. Penney click here. For more ratings news on J. C. Penney click here.
Shares of J. C. Penney closed at $24.33 yesterday, with a 52 week range of $23.14-$43.18.
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