Jack In The Box Inc. (NASDAQ:JACK) to Post Q3 2017 Earnings of $1.01 Per Share, Oppenheimer Holdings Forecasts
Jack In The Box Inc. (NASDAQ:JACK) – Stock analysts at Oppenheimer Holdings cut their Q3 2017 EPS estimates for shares of Jack In The Box in a research note issued to investors on Monday. Oppenheimer Holdings analyst B. Bittner now forecasts that the restaurant operator will post earnings per share of $1.01 for the quarter, down from their prior forecast of $1.10. Oppenheimer Holdings currently has a “Outperform” rating and a $125.00 target price on the stock. Oppenheimer Holdings also issued estimates for Jack In The Box’s Q4 2017 earnings at $0.88 EPS, FY2017 earnings at $4.06 EPS and FY2018 earnings at $4.80 EPS.
JACK has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Jack In The Box from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Jefferies Group LLC reiterated a “buy” rating and issued a $120.00 price target on shares of Jack In The Box in a research note on Thursday, July 27th. Wells Fargo & Company reiterated a “market perform” rating on shares of Jack In The Box in a research note on Sunday, May 14th. Cowen and Company reiterated a “hold” rating and issued a $100.00 price target on shares of Jack In The Box in a research note on Friday, May 12th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $118.00 price target (down from $120.00) on shares of Jack In The Box in a research note on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $117.00.
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Jack In The Box (NASDAQ:JACK) opened at 95.12 on Tuesday. Jack In The Box has a 1-year low of $86.51 and a 1-year high of $113.30. The firm has a 50-day moving average of $98.26 and a 200-day moving average of $101.80. The stock has a market capitalization of $2.80 billion, a PE ratio of 23.50 and a beta of 0.57.
Jack In The Box (NASDAQ:JACK) last released its earnings results on Tuesday, May 16th. The restaurant operator reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.07. The firm had revenue of $369.40 million for the quarter, compared to analysts’ expectations of $369.36 million. Jack In The Box had a net margin of 8.07% and a negative return on equity of 49.06%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 earnings per share.
In other Jack In The Box news, EVP Phillip H. Rudolph sold 6,908 shares of Jack In The Box stock in a transaction that occurred on Monday, May 22nd. The shares were 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 of the company’s stock, valued at $10,287,410.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of JACK. Bridge City Capital LLC purchased a new position in shares of Jack In The Box during the second quarter valued at $1,907,000. Victory Capital Management Inc. increased its position in shares of Jack In The Box by 17.8% in the second quarter. Victory Capital Management Inc. now owns 1,875 shares of the restaurant operator’s stock valued at $185,000 after buying an additional 283 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Jack In The Box by 3.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 19,733 shares of the restaurant operator’s stock valued at $1,944,000 after buying an additional 627 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Jack In The Box during the second quarter valued at $13,593,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of Jack In The Box by 113.4% in the second quarter. BNP Paribas Arbitrage SA now owns 15,862 shares of the restaurant operator’s stock valued at $1,562,000 after buying an additional 8,429 shares in the last quarter. 93.90% of the stock is currently owned by institutional investors and hedge funds.
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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