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Maxim Group analyst Rick Snyder reiterated a Hold rating on J. C. Penney (NYSE: JCP) following last week's solid Q1 results but said that they believe that Gresham's Law will govern the share price action for the time being.
Snyder said,... More
Moody's Investors Service today stated that J.C. Penney Company, Inc. (NYSE: JCP) first quarter operating results exceeded its expectations and are viewed as a credit positive.
The principal methodology used in this rating was the Global Retail Industry Methodology published in June 2011.... More
Wells Fargo maintained a Market Perform rating on J. C. Penney (NYSE: JCP) with a price target of $6-$7. Analyst Paul Lejuez was not overly impressed with Q1, as improvement in comp benefited from Home, which was previously under construction.
"JCPs +6.2% comp exceeded consensus of +3.8%, but digging into the drivers of the comp, results seem much less impressive, in our view. Half of the comp came from the home category, benefiting from home departments being closed in 1Q13. GM was... More
BofA/Merrill Lynch analyst Lorraine Hutchinson reiterated a Neutral rating and bumped her price target on J. C. Penney (NYSE: JCP) to $11.00 (from $9.50) following Q1 results. The analyst noted some comp progress and better liquidity options.
Hutchinson notes the 1Q EPS of $(1.14)... More
Deutsche Bank maintained a Hold rating on J. C. Penney (NYSE: JCP) and raised its price target to $10.00 (from $6.00). The change follows Q1 results.
Analyst Paul Trussell said, "JCPenney posted a very impressive 1Q14 print, led by: 1) the companys best quarterly SSS performance (+6.2%) since 3Q06; 2) large YOY improvement in GPM +225 bps despite heavy clearance merchandise... More
J.C. Penney Co., Inc. (NYSE: JCP) reported Q1 EPS of ($1.15), $0.10 better than the analyst estimate of ($1.25). Revenue for the quarter came in at $2.8 billion versus the consensus estimate of $2.71 billion.
Same store sales increase 6.2%, exceeding guidance; second consecutive quarter of growth
Financial Position
The Company also announced today that it has obtained a fully committed and underwritten $2.35 billion senior secured ABL credit facility to replace the Company's existing $1.85 billion ABL bank line, which matures in April... More
