J C Penney Company Inc (JCP) Moves on Morgan Stanley Upgrade

J C Penney Company Inc (NYSE:JCP) stock saw some movement on Monday after an upgrade from Morgan Stanley.

 J C Penney Company Inc, JCP, Morgan Stanley UpgradeMorgan Stanley analysts upgraded J C Penney Company Inc stock from a rating of “Underweight” to a rating of “Equal Weight” on Monday. The company currently has an average rating of “Hold” and a consensus target price of $10.62. JCP has a “Sell” rating from three analysts, a “Hold” rating from 11 and a “Buy” rating from two.

J C Penney Company Inc’s has a 50-day moving average price of $7.22 and a 200-day moving average price of $8.88. The stock has a 12-month low of 6.35. Its 12-month high is $11.99.

J C Penney Company Inc has been struggling lately. It last released an earnings report on Nov. 11, 2016. The retail company reported losses per share of 21 cents and revenue of $2.86 billion. Wall Street was looking for losses per share of 20 cents and revenue of $2.95 billion, reports Community Financial News.

J C Penney Company Inc says that it will release its earnings report for the fourth quarter of 2016 and the full year on Feb. 24, 2017. It will hold a live conference call that same day at 8:30 a.m. Eastern Time.

Wall Street is expecting J C Penney Company Inc to report earnings per share of 62 cents and revenue of $3.98 billion for the fourth quarter of the year. For the full year of 2016, analysts are looking for earnings per share of 4 cents and revenue of $12.57 billion.

JCP stock was up slightly as of noon Monday, but is down 13% year-to-date.

Article printed from InvestorPlace Media, https://investorplace.com/2017/02/j-c-penney-company-inc-jcp-morgan-stanley-upgrade/.

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