Jack In The Box Inc. (NASDAQ:JACK) Expected to Post Quarterly Sales of $361.70 Million
Equities research analysts predict that Jack In The Box Inc. (NASDAQ:JACK) will post $361.70 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Jack In The Box’s earnings, with estimates ranging from $357.61 million to $367.60 million. Jack In The Box reported sales of $368.94 million during the same quarter last year, which indicates a negative year over year growth rate of 2%. The company is expected to announce its next earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that Jack In The Box will report full year sales of $361.70 million for the current year, with estimates ranging from $1.56 billion to $1.59 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.44 billion per share, with estimates ranging from $1.42 billion to $1.49 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Jack In The Box.
Jack In The Box (NASDAQ:JACK) last released its quarterly earnings data on Tuesday, May 16th. The restaurant operator reported $0.98 EPS for the quarter, beating the consensus estimate of $0.91 by $0.07. Jack In The Box had a net margin of 8.07% and a negative return on equity of 49.06%. The business had revenue of $369.40 million during the quarter, compared to the consensus estimate of $369.36 million. During the same quarter in the prior year, the firm earned $0.85 EPS. The business’s revenue was up 2.3% on a year-over-year basis.
Several equities research analysts recently weighed in on the stock. Telsey Advisory Group downgraded shares of Jack In The Box from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $125.00 to $118.00 in a research note on Thursday, May 18th. TheStreet raised shares of Jack In The Box from a “c+” rating to a “b-” rating in a research report on Thursday, June 15th. Cowen and Company reaffirmed a “market perform” rating and issued a $105.00 target price (up from $100.00) on shares of Jack In The Box in a research report on Friday, May 19th. Bank of America Corporation reiterated a “buy” rating on shares of Jack In The Box in a research note on Tuesday, May 30th. They noted that the move was a valuation call. Finally, BidaskClub cut shares of Jack In The Box from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $115.00.
Jack In The Box (NASDAQ:JACK) opened at 94.76 on Thursday. The company has a market cap of $2.79 billion, a P/E ratio of 23.41 and a beta of 0.58. The company has a 50 day moving average of $101.78 and a 200-day moving average of $102.75. Jack In The Box has a one year low of $86.52 and a one year high of $113.30.
In other Jack In The Box news, EVP Phillip H. Rudolph sold 6,908 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $103.64, for a total transaction of $715,945.12. Following the transaction, the executive vice president now owns 99,261 shares in the company, valued at $10,287,410.04. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.10% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in JACK. BlackRock Inc. raised its stake in shares of Jack In The Box by 20,582.3% in the first quarter. BlackRock Inc. now owns 3,274,426 shares of the restaurant operator’s stock worth $333,074,000 after buying an additional 3,258,594 shares in the last quarter. FMR LLC raised its position in Jack In The Box by 72.6% in the first quarter. FMR LLC now owns 1,283,344 shares of the restaurant operator’s stock valued at $130,542,000 after buying an additional 539,805 shares during the period. State Street Corp raised its position in Jack In The Box by 2.0% in the first quarter. State Street Corp now owns 1,060,981 shares of the restaurant operator’s stock valued at $107,920,000 after buying an additional 20,786 shares during the period. Credit Suisse AG raised its position in Jack In The Box by 514.2% in the first quarter. Credit Suisse AG now owns 943,680 shares of the restaurant operator’s stock valued at $95,990,000 after buying an additional 790,044 shares during the period. Finally, AQR Capital Management LLC raised its position in Jack In The Box by 2.3% in the first quarter. AQR Capital Management LLC now owns 555,430 shares of the restaurant operator’s stock valued at $56,498,000 after buying an additional 12,645 shares during the period.
Jack In The Box Company Profile
Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants (QSRs) and Qdoba Mexican Eats (Qdoba) fast-casual restaurants. The Company operates in two segments: Jack in the Box and Qdoba restaurant operations. Qdoba is a fast-casual Mexican food brand in the United States, offering food items including burritos, tacos, salads, and quesadillas.
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