Wedbush Analysts Cut Earnings Estimates for Jack In The Box Inc. (JACK)
Jack In The Box Inc. (NASDAQ:JACK) – Research analysts at Wedbush reduced their Q2 2017 earnings per share estimates for Jack In The Box in a report released on Tuesday. Wedbush analyst N. Setyan now anticipates that the firm will earn $1.04 per share for the quarter, down from their previous forecast of $1.08. Wedbush has a “Outperform” rating and a $125.00 price objective on the stock. Wedbush also issued estimates for Jack In The Box’s Q3 2017 earnings at $1.30 EPS, Q4 2017 earnings at $1.17 EPS, FY2017 earnings at $4.75 EPS, Q1 2018 earnings at $1.59 EPS, Q2 2018 earnings at $1.27 EPS, Q4 2018 earnings at $1.38 EPS and FY2018 earnings at $5.80 EPS.
A number of other research analysts have also recently commented on the stock. Goldman Sachs Group Inc. started coverage on shares of Jack In The Box in a research note on Monday, October 24th. They set a “sell” rating and a $88.00 price target for the company. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $97.00 price target on shares of Jack In The Box in a research note on Tuesday, August 2nd. Zacks Investment Research cut shares of Jack In The Box from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 17th. TheStreet upgraded shares of Jack In The Box from a “hold” rating to a “buy” rating in a research note on Friday, August 12th. Finally, Telsey Advisory Group raised their price target on shares of Jack In The Box from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. Jack In The Box has an average rating of “Hold” and a consensus target price of $101.63.
Jack In The Box (NASDAQ:JACK) opened at 107.63 on Thursday. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 29.60 and a beta of 0.50. Jack In The Box has a one year low of $61.78 and a one year high of $109.40. The company has a 50-day moving average price of $97.10 and a 200-day moving average price of $91.67.
Jack In The Box (NASDAQ:JACK) last issued its quarterly earnings data on Monday, November 21st. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.15. Jack In The Box had a negative return on equity of 94.78% and a net margin of 7.76%. The business earned $398.42 million during the quarter, compared to analyst estimates of $398.67 million. During the same period in the prior year, the company posted $0.62 EPS. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year.
Several institutional investors have recently made changes to their positions in JACK. Bank of Montreal Can raised its position in shares of Jack In The Box by 109.1% in the third quarter. Bank of Montreal Can now owns 1,306 shares of the company’s stock valued at $126,000 after buying an additional 15,681 shares during the period. Seven Eight Capital LLC raised its position in shares of Jack In The Box by 125.0% in the second quarter. Seven Eight Capital LLC now owns 1,800 shares of the company’s stock valued at $155,000 after buying an additional 1,000 shares during the period. LS Investment Advisors LLC raised its position in shares of Jack In The Box by 58.9% in the second quarter. LS Investment Advisors LLC now owns 1,992 shares of the company’s stock valued at $171,000 after buying an additional 738 shares during the period. World Asset Management Inc purchased a new position in shares of Jack In The Box during the third quarter valued at about $205,000. Finally, Weiss Asset Management LP purchased a new position in shares of Jack In The Box during the third quarter valued at about $234,000. 99.67% of the stock is owned by institutional investors.
In other Jack In The Box news, Director David Goebel sold 1,480 shares of Jack In The Box stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $101.46, for a total transaction of $150,160.80. Following the completion of the sale, the director now owns 23,377 shares of the company’s stock, valued at approximately $2,371,830.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Carol A. Diraimo sold 2,000 shares of Jack In The Box stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $105.00, for a total transaction of $210,000.00. Following the sale, the vice president now directly owns 16,059 shares of the company’s stock, valued at approximately $1,686,195. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Monday, December 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Thursday, December 1st. This is a positive change from Jack In The Box’s previous quarterly dividend of $0.30. Jack In The Box’s payout ratio is currently 32.97%.
Jack In The Box Company Profile
Jack in the Box Inc is a restaurant company. The Company operates and franchises approximately 2,910 Jack in the Box quick-service restaurants (QSR) and Qdoba Mexican Eats fast-casual restaurants (Qdoba). Its segments are Jack in the Box and Qdoba Restaurant operations. It operates and franchises approximately 2,250 Jack in the Box restaurants, primarily in the western and southern United States, including one in Guam, over 660 Qdoba restaurants across the United States, and approximately four in Canada.
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