FY2024 EPS Estimates for Jack in the Box Reduced by Wedbush

Jack in the Box Inc. (NASDAQ:JACK) – Investment analysts at Wedbush lowered their FY2024 EPS estimates for shares of Jack in the Box in a research note issued on Monday, November 18th. Wedbush analyst N. Setyan now anticipates that the restaurant operator will post earnings per share of $6.17 for the year, down from their previous forecast of $6.18. Wedbush has a “Outperform” rating and a $50.00 price objective on the stock. The consensus estimate for Jack in the Box’s current full-year earnings is $6.19 per share. Wedbush also issued estimates for Jack in the Box’s Q4 2024 earnings at $1.10 EPS, Q1 2025 earnings at $1.78 EPS, Q3 2025 earnings at $1.46 EPS and Q4 2025 earnings at $1.27 EPS.

A number of other research analysts also recently commented on the company. Oppenheimer reduced their target price on Jack in the Box from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday. Barclays decreased their price objective on shares of Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, October 22nd. TD Cowen dropped their target price on shares of Jack in the Box from $57.00 to $50.00 and set a “hold” rating on the stock in a report on Wednesday, October 16th. Northcoast Research downgraded shares of Jack in the Box from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Finally, Loop Capital lowered their price objective on shares of Jack in the Box from $87.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $62.81.

Jack in the Box Trading Up 4.1 %

NASDAQ:JACK opened at $46.61 on Tuesday. Jack in the Box has a one year low of $40.84 and a one year high of $86.20. The stock has a 50-day simple moving average of $46.04 and a 200 day simple moving average of $50.38.

Institutional Investors Weigh In On Jack in the Box

Institutional investors have recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new position in Jack in the Box during the second quarter worth about $3,311,000. Seven Eight Capital LP acquired a new stake in Jack in the Box during the first quarter valued at approximately $1,096,000. Aigen Investment Management LP boosted its holdings in Jack in the Box by 238.5% during the third quarter. Aigen Investment Management LP now owns 21,869 shares of the restaurant operator’s stock worth $1,018,000 after buying an additional 15,409 shares in the last quarter. Access Investment Management LLC bought a new position in shares of Jack in the Box in the third quarter valued at $1,475,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Jack in the Box by 26.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock valued at $31,937,000 after buying an additional 130,214 shares in the last quarter. 99.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Jack in the Box

In other news, CFO Brian M. Scott sold 696 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $48.66, for a total value of $33,867.36. Following the completion of the transaction, the chief financial officer now directly owns 13,201 shares in the company, valued at $642,360.66. This trade represents a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

Jack in the Box Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 30th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a yield of 3.78%. Jack in the Box’s dividend payout ratio (DPR) is presently -88.44%.

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.