Jack in the Box Inc. (NASDAQ:JACK) Expected to Post Quarterly Sales of $287.46 Million

Wall Street brokerages expect Jack in the Box Inc. (NASDAQ:JACK) to post sales of $287.46 million for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Jack in the Box’s earnings. The lowest sales estimate is $277.00 million and the highest is $293.40 million. Jack in the Box posted sales of $255.40 million in the same quarter last year, which would indicate a positive year over year growth rate of 12.6%. The firm is expected to announce its next quarterly earnings results on Wednesday, November 17th.

On average, analysts expect that Jack in the Box will report full year sales of $1.15 billion for the current financial year, with estimates ranging from $1.13 billion to $1.16 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.18 billion, with estimates ranging from $1.13 billion to $1.21 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Jack in the Box.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings data on Tuesday, August 3rd. The restaurant operator reported $1.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.30. The firm had revenue of $269.50 million during the quarter, compared to analysts’ expectations of $258.89 million. Jack in the Box had a net margin of 14.69% and a negative return on equity of 20.52%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the company posted $1.37 EPS.

Several analysts have recently issued reports on the stock. Guggenheim started coverage on shares of Jack in the Box in a research report on Monday, July 26th. They set a “buy” rating and a $135.00 price target on the stock. Barclays lowered their price target on Jack in the Box from $129.00 to $127.00 and set an “equal weight” rating for the company in a report on Wednesday, June 30th. Royal Bank of Canada decreased their price target on shares of Jack in the Box from $140.00 to $132.00 and set an “outperform” rating for the company in a research note on Thursday, August 5th. Wedbush dropped their price objective on shares of Jack in the Box from $135.00 to $117.00 and set an “outperform” rating on the stock in a research note on Thursday, August 5th. Finally, Morgan Stanley lowered their price target on Jack in the Box from $120.00 to $115.00 and set an “equal weight” rating on the stock in a report on Thursday, August 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Jack in the Box has an average rating of “Buy” and an average price target of $119.22.

In other Jack in the Box news, CEO Darin S. Harris sold 524 shares of the stock in a transaction that occurred on Wednesday, June 23rd. The stock was sold at an average price of $121.50, for a total transaction of $63,666.00. Following the transaction, the chief executive officer now directly owns 22,780 shares in the company, valued at approximately $2,767,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Scopus Asset Management L.P. purchased a new position in shares of Jack in the Box in the first quarter worth $60,379,000. Westwood Holdings Group Inc. boosted its position in shares of Jack in the Box by 177.4% during the first quarter. Westwood Holdings Group Inc. now owns 597,994 shares of the restaurant operator’s stock valued at $65,648,000 after buying an additional 382,408 shares during the period. Franklin Resources Inc. lifted its holdings in Jack in the Box by 32.9% during the 2nd quarter. Franklin Resources Inc. now owns 1,328,858 shares of the restaurant operator’s stock valued at $148,088,000 after buying an additional 329,110 shares in the last quarter. Prudential Financial Inc. boosted its position in Jack in the Box by 453.6% during the 1st quarter. Prudential Financial Inc. now owns 269,528 shares of the restaurant operator’s stock valued at $29,589,000 after acquiring an additional 220,843 shares in the last quarter. Finally, FMR LLC raised its stake in Jack in the Box by 72.3% in the second quarter. FMR LLC now owns 515,913 shares of the restaurant operator’s stock valued at $57,493,000 after buying an additional 216,560 shares during the last quarter. Institutional investors and hedge funds own 99.06% of the company’s stock.

Jack in the Box stock traded up $1.84 during midday trading on Friday, reaching $100.36. 7,597 shares of the stock traded hands, compared to its average volume of 353,210. The firm has a market cap of $2.18 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 0.82 and a beta of 1.81. The company has a 50-day simple moving average of $104.85 and a two-hundred day simple moving average of $110.93. Jack in the Box has a 12-month low of $77.69 and a 12-month high of $124.53.

The business also recently announced a quarterly dividend, which was paid on Friday, September 3rd. Stockholders of record on Wednesday, August 18th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Tuesday, August 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.75%. Jack in the Box’s payout ratio is 37.85%.

Jack in the Box Company Profile

Jack in the Box, Inc engages in operating and franchising a chain of quick-service and fast-casual restaurants. It operates through the Jack in the Box Restaurant segments. The Jack in the Box Restaurant segment offers a broad selection of distinctive products including burgers like Jumbo Jack burgers, and product lines such as Buttery Jack burgers including the Brunchfast menu.

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Earnings History and Estimates for Jack in the Box (NASDAQ:JACK)

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