Brokers Set Expectations for Jack in the Box Inc.’s Q1 2018 Earnings (JACK)
Jack in the Box Inc. (NASDAQ:JACK) – Wedbush lowered their Q1 2018 earnings per share (EPS) estimates for Jack in the Box in a research report issued on Friday. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings per share of $1.07 for the quarter, down from their prior forecast of $1.23. Wedbush currently has a “Hold” rating and a $104.00 target price on the stock. Wedbush also issued estimates for Jack in the Box’s Q4 2018 earnings at $0.93 EPS, FY2018 earnings at $4.13 EPS, Q1 2019 earnings at $1.23 EPS, Q2 2019 earnings at $1.13 EPS, Q3 2019 earnings at $1.21 EPS, Q4 2019 earnings at $1.05 EPS and FY2019 earnings at $4.62 EPS.
Other research analysts have also issued reports about the stock. Robert W. Baird reiterated a “buy” rating and set a $115.00 price objective on shares of Jack in the Box in a report on Tuesday, September 19th. Jefferies Group reiterated a “buy” rating and set a $120.00 price objective on shares of Jack in the Box in a report on Thursday, August 31st. Oppenheimer reissued a “buy” rating and set a $125.00 target price on shares of Jack in the Box in a research report on Monday, November 20th. SunTrust Banks set a $109.00 target price on shares of Jack in the Box and gave the stock a “buy” rating in a research report on Friday. Finally, TheStreet downgraded shares of Jack in the Box from a “b-” rating to a “c” rating in a research report on Wednesday, August 9th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Jack in the Box has a consensus rating of “Buy” and an average target price of $112.62.
Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings results on Wednesday, November 29th. The restaurant operator reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.16). The company had revenue of $338.75 million for the quarter, compared to analyst estimates of $341.34 million. Jack in the Box had a negative return on equity of 30.55% and a net margin of 8.71%. The business’s revenue for the quarter was down 15.0% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in Jack in the Box by 9.0% during the second quarter. Royal Bank of Canada now owns 1,274 shares of the restaurant operator’s stock worth $126,000 after acquiring an additional 105 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Jack in the Box by 61.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,585 shares of the restaurant operator’s stock worth $156,000 after acquiring an additional 601 shares during the period. Victory Capital Management Inc. grew its holdings in Jack in the Box by 17.8% during the second quarter. Victory Capital Management Inc. now owns 1,875 shares of the restaurant operator’s stock worth $185,000 after acquiring an additional 283 shares during the period. FNY Managed Accounts LLC grew its holdings in Jack in the Box by 90.6% during the second quarter. FNY Managed Accounts LLC now owns 2,030 shares of the restaurant operator’s stock worth $199,000 after acquiring an additional 965 shares during the period. Finally, Vident Investment Advisory LLC purchased a new position in Jack in the Box in the 3rd quarter worth about $203,000. Institutional investors and hedge funds own 99.18% of the company’s stock.
In other Jack in the Box news, insider Frances L. Allen sold 530 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $102.71, for a total value of $54,436.30. Following the sale, the insider now directly owns 10,979 shares in the company, valued at $1,127,653.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.10% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, December 4th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, December 1st. Jack in the Box’s payout ratio is 35.63%.
About Jack in the Box
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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