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6 Stocks That May Not Survive the Coronavirus in 2020 - 1 of 6

 
#1 - J.C. Penney (NYSE:JCP)

J C Penney logo

Sector: Consumer Discretionary

Few names bring memories of retail’s glory days as J.C. Penney (NYSE:JCP). But those days seem like ancient history. The company was already struggling mightily prior to the outbreak of the coronavirus. It was lagging behind in the e-commerce world, and store sales were shrinking. Now J.C. Penney is furloughing most of its part-time workforce, instituting a hiring freeze, and shutting the doors for its brick-and-mortar stores.

None of these moves are unique to Penney’s. And to be fair, the retailer has no choice but to put the safety of its employees first. But this could be the final blow to JCP stock, which is down over 70% in 2020 and is well below the $1 mark. This means if the company cannot reverse its fortunes, it most assuredly will be de-listed.

How likely is a turnaround? Unfortunately, it’s not very likely. The immediate problem is that J.C. Penney’s is woefully short on cash. As of their last earnings report, the company has just $386 million in cash and short-term investments compared with $3.7 billion in total debt. Plus, the company has limited options to get additional financing for the debt that will come due. 

About J C Penney
J. C. Penney Company, Inc., through its subsidiary J. C. Penney Corporation, Inc., sells merchandise through department stores. The company primarily sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, and home furnishings; and provides services, including styling salon, optical, portrait photography, and custom decorating services. As of February 2, 2019, it operated 864 department stores in 49 states of the United States and Puerto Rico. The company also sells its products through its Website, jcpenney.com. The company was founded in 1902 and is based in Plano, Texas.

Current Price: $0.18
Consensus Rating: Hold
Ratings Breakdown: 0 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $1.00 (449.8% Upside)




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