Jack in the Box (NASDAQ:JACK) Issues FY24 Earnings Guidance

Jack in the Box (NASDAQ:JACK) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $6.10 to $6.25 for the period, compared to the consensus earnings per share estimate of $6.31.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on JACK shares. Bank of America decreased their price target on Jack in the Box from $83.00 to $79.00 and set a buy rating on the stock in a research note on Wednesday, July 17th. Loop Capital lowered their price target on shares of Jack in the Box from $118.00 to $112.00 and set a buy rating on the stock in a research note on Wednesday, May 15th. TD Cowen reiterated a hold rating and issued a $59.00 price target on shares of Jack in the Box in a report on Thursday, June 13th. Truist Financial decreased their price objective on shares of Jack in the Box from $99.00 to $83.00 and set a buy rating on the stock in a report on Wednesday, May 15th. Finally, UBS Group dropped their target price on shares of Jack in the Box from $87.00 to $60.00 and set a neutral rating for the company in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $75.17.

Jack in the Box Stock Up 0.4 %

Shares of NASDAQ:JACK traded up $0.21 on Tuesday, reaching $53.03. The company had a trading volume of 538,258 shares, compared to its average volume of 484,283. The stock has a 50-day moving average price of $53.35 and a 200 day moving average price of $62.01. Jack in the Box has a twelve month low of $46.10 and a twelve month high of $96.82. The stock has a market capitalization of $1.03 billion, a P/E ratio of 9.34, a P/E/G ratio of 0.76 and a beta of 1.91.

Jack in the Box (NASDAQ:JACK) last released its earnings results on Tuesday, May 14th. The restaurant operator reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. Jack in the Box had a negative return on equity of 16.97% and a net margin of 7.07%. The firm had revenue of $365.40 million for the quarter, compared to analyst estimates of $369.53 million. During the same quarter last year, the firm posted $1.47 EPS. The company’s revenue was down 7.7% on a year-over-year basis. On average, sell-side analysts predict that Jack in the Box will post 6.29 earnings per share for the current fiscal year.

Jack in the Box Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Thursday, June 6th were given a $0.44 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.76 annualized dividend and a yield of 3.32%. Jack in the Box’s dividend payout ratio is 30.99%.

Insider Activity at Jack in the Box

In other Jack in the Box news, CEO Darin S. Harris sold 598 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $51.64, for a total value of $30,880.72. Following the completion of the transaction, the chief executive officer now owns 90,887 shares of the company’s stock, valued at approximately $4,693,404.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 800 shares of company stock worth $41,514. Company insiders own 1.60% of the company’s stock.

About Jack in the Box

Jack in the Box Inc operates and franchises Jack in the Box and Del Taco quick-service restaurants in the United States. The company was founded in 1951 and is headquartered in San Diego, California.