Zacks Research Equities Analysts Reduce Earnings Estimates for Jack in the Box Inc. (NASDAQ:JACK)

Jack in the Box Inc. (NASDAQ:JACK – Get Rating) – Investment analysts at Zacks Research decreased their Q2 2023 earnings per share estimates for Jack in the Box in a report issued on Wednesday, March 15th. Zacks Research analyst H. Ray now forecasts that the restaurant operator will earn $0.99 per share for the quarter, down from their previous estimate of $1.05. The consensus estimate for Jack in the Box’s current full-year earnings is $5.80 per share. Zacks Research also issued estimates for Jack in the Box’s Q4 2023 earnings at $1.20 EPS, Q1 2024 earnings at $2.07 EPS, Q2 2024 earnings at $1.25 EPS, Q4 2024 earnings at $1.40 EPS, FY2024 earnings at $6.12 EPS, Q1 2025 earnings at $2.31 EPS and FY2025 earnings at $6.64 EPS.

A number of other brokerages have also recently issued reports on JACK. Morgan Stanley boosted their target price on shares of Jack in the Box from $79.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, March 2nd. Wedbush increased their target price on Jack in the Box from $82.00 to $92.00 and gave the stock a “neutral” rating in a report on Thursday, March 2nd. Stifel Nicolaus cut their target price on Jack in the Box from $96.00 to $80.00 in a report on Monday, November 28th. StockNews.com started coverage on Jack in the Box in a research report on Thursday. They issued a “hold” rating for the company. Finally, Cowen raised their target price on Jack in the Box from $80.00 to $87.00 and gave the company a “market perform” rating in a research report on Thursday, March 2nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $87.56.

Jack in the Box Price Performance

JACK stock opened at $81.01 on Friday. The company has a fifty day moving average price of $78.82 and a two-hundred day moving average price of $77.65. Jack in the Box has a one year low of $54.80 and a one year high of $94.68. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 0.82 and a beta of 1.62.

Jack in the Box (NASDAQ:JACK – Get Rating) last posted its earnings results on Wednesday, March 1st. The restaurant operator reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.25. Jack in the Box had a negative return on equity of 16.57% and a net margin of 7.86%. The firm had revenue of $527.10 million during the quarter, compared to analysts’ expectations of $506.98 million. During the same period in the previous year, the firm earned $1.97 earnings per share. The company’s revenue was up 52.9% on a year-over-year basis.

Jack in the Box Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 28th. Shareholders of record on Wednesday, March 15th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Tuesday, March 14th. Jack in the Box’s payout ratio is 28.57%.

Insiders Place Their Bets

In related news, insider Chad Gretzema sold 712 shares of the stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $85.97, for a total transaction of $61,210.64. Following the completion of the sale, the insider now owns 11,454 shares in the company, valued at $984,700.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Chad Gretzema sold 712 shares of the stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $85.97, for a total transaction of $61,210.64. Following the completion of the transaction, the insider now directly owns 11,454 shares of the company’s stock, valued at $984,700.38. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael W. Murphy sold 1,390 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $83.26, for a total value of $115,731.40. Following the transaction, the director now directly owns 68,092 shares of the company’s stock, valued at $5,669,339.92. The disclosure for this sale can be found here. Insiders sold a total of 5,907 shares of company stock worth $440,935 over the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Jack in the Box

Several institutional investors have recently modified their holdings of JACK. State Board of Administration of Florida Retirement System raised its holdings in shares of Jack in the Box by 3.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 5,121 shares of the restaurant operator’s stock worth $349,000 after buying an additional 170 shares during the period. Arizona State Retirement System increased its holdings in shares of Jack in the Box by 3.9% in the 4th quarter. Arizona State Retirement System now owns 5,941 shares of the restaurant operator’s stock valued at $405,000 after acquiring an additional 222 shares during the period. Texas Permanent School Fund increased its holdings in shares of Jack in the Box by 1.5% in the 2nd quarter. Texas Permanent School Fund now owns 15,183 shares of the restaurant operator’s stock valued at $851,000 after acquiring an additional 223 shares during the period. Ancora Advisors LLC purchased a new position in shares of Jack in the Box in the 1st quarter valued at $25,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of Jack in the Box by 102.6% in the 4th quarter. Advisors Asset Management Inc. now owns 468 shares of the restaurant operator’s stock valued at $32,000 after acquiring an additional 237 shares during the period. 99.78% of the stock is owned by institutional investors.

About Jack in the Box

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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.