Zacks: Brokerages Anticipate Jack in the Box Inc. (JACK) Will Post Quarterly Sales of $174.99 Million
Equities research analysts expect Jack in the Box Inc. (NASDAQ:JACK) to report $174.99 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Jack in the Box’s earnings. The lowest sales estimate is $169.67 million and the highest is $177.19 million. Jack in the Box reported sales of $338.75 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 48.3%. The firm is expected to issue its next earnings results after the market closes on Monday, November 19th.
According to Zacks, analysts expect that Jack in the Box will report full-year sales of $867.88 million for the current fiscal year, with estimates ranging from $861.89 million to $871.93 million. For the next fiscal year, analysts anticipate that the company will post sales of $773.58 million, with estimates ranging from $764.34 million to $789.80 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Jack in the Box.
Several brokerages recently issued reports on JACK. ValuEngine raised Jack in the Box from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. UBS Group upped their target price on Jack in the Box from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, August 10th. Cowen reaffirmed a “hold” rating and set a $94.00 target price on shares of Jack in the Box in a research report on Thursday, August 9th. BidaskClub raised Jack in the Box from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Finally, Stifel Nicolaus reduced their target price on Jack in the Box from $93.00 to $88.00 and set a “reduce” rating on the stock in a research report on Monday, October 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. Jack in the Box presently has an average rating of “Hold” and an average price target of $99.46.
Institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. grew its stake in Jack in the Box by 11.0% during the 2nd quarter. Macquarie Group Ltd. now owns 509,379 shares of the restaurant operator’s stock valued at $43,358,000 after purchasing an additional 50,570 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Jack in the Box in the second quarter worth about $5,044,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Jack in the Box in the second quarter worth about $628,000. Assenagon Asset Management S.A. purchased a new stake in shares of Jack in the Box in the third quarter worth about $4,145,000. Finally, Nokota Management LP boosted its stake in shares of Jack in the Box by 11.4% in the second quarter. Nokota Management LP now owns 417,606 shares of the restaurant operator’s stock worth $35,547,000 after buying an additional 42,606 shares during the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.
Shares of NASDAQ:JACK opened at $79.17 on Friday. Jack in the Box has a 1 year low of $75.09 and a 1 year high of $108.55. The stock has a market cap of $2.20 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.37 and a beta of 0.52.
About Jack in the Box
Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of April 15, 2018, it operated and franchised 2,245 Jack in the Box restaurants primarily in the western and southern United States and Guam. The company was founded in 1951 and is headquartered in San Diego, California.
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