Jamba Trading 10.5% Higher on Better-Than-Expected Earnings (JMBA)
Jamba (NASDAQ:JMBA)’s share price traded up 10.5% on Tuesday after the company announced better than expected quarterly earnings, Analyst Ratings Network.com reports. The stock traded as high as $13.68 and last traded at $13.45, with a volume of 927,068 shares. The stock had previously closed at $12.17.
The company reported $0.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.37 by $0.07. The company had revenue of $64.20 million for the quarter, compared to the consensus estimate of $64.43 million. During the same quarter last year, the company posted $0.36 earnings per share. Jamba’s revenue was down 4.6% compared to the same quarter last year.
Separately, analysts at Craig Hallum initiated coverage on shares of Jamba in a research note on Tuesday, June 17th. They set a “buy” rating and a $18.00 price target on the stock. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Jamba currently has an average rating of “Hold” and an average target price of $14.14.
The stock has a 50-day moving average of $11.94 and a 200-day moving average of $11.8. The company has a market cap of $231.8 million and a price-to-earnings ratio of 69.94.
Jamba, Inc (NASDAQ:JMBA) owns and franchises Jamba Juice stores through its wholly owned subsidiary, Jamba Juice Company.
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