Jack in the Box Inc. (NASDAQ:JACK) to Post FY2024 Earnings of $6.18 Per Share, Wedbush Forecasts

Jack in the Box Inc. (NASDAQ:JACK) – Equities research analysts at Wedbush cut their FY2024 earnings estimates for Jack in the Box in a note issued to investors on Tuesday, August 6th. Wedbush analyst N. Setyan now anticipates that the restaurant operator will post earnings per share of $6.18 for the year, down from their previous forecast of $6.35. Wedbush has a “Outperform” rating and a $60.00 price objective on the stock. The consensus estimate for Jack in the Box’s current full-year earnings is $6.29 per share. Wedbush also issued estimates for Jack in the Box’s Q1 2025 earnings at $2.05 EPS, Q2 2025 earnings at $1.58 EPS, Q3 2025 earnings at $1.63 EPS, Q4 2025 earnings at $1.34 EPS and FY2025 earnings at $6.61 EPS.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 EPS for the quarter, topping the consensus estimate of $1.51 by $0.14. The company had revenue of $369.17 million for the quarter, compared to the consensus estimate of $371.81 million. Jack in the Box had a net margin of 7.07% and a negative return on equity of 16.97%. The firm’s revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.45 EPS.

JACK has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Jack in the Box from $59.00 to $56.00 and set a “hold” rating on the stock in a research note on Wednesday. UBS Group reduced their price target on shares of Jack in the Box from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Wednesday. Royal Bank of Canada cut their target price on shares of Jack in the Box from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday. Barclays cut their price objective on shares of Jack in the Box from $80.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 15th. Finally, Morgan Stanley cut their price objective on shares of Jack in the Box from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $71.61.

Jack in the Box Stock Up 1.8 %

JACK stock traded up $0.97 during trading on Thursday, hitting $53.53. The company had a trading volume of 445,378 shares, compared to its average volume of 490,386. The firm has a market capitalization of $1.04 billion, a P/E ratio of 9.42, a PEG ratio of 0.76 and a beta of 1.91. Jack in the Box has a 52-week low of $46.10 and a 52-week high of $88.36. The company has a 50 day simple moving average of $53.26 and a 200-day simple moving average of $61.52.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in Jack in the Box in the fourth quarter valued at about $900,000. Allspring Global Investments Holdings LLC lifted its position in Jack in the Box by 11.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 499,987 shares of the restaurant operator’s stock valued at $40,814,000 after buying an additional 53,294 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Jack in the Box in the fourth quarter valued at about $824,000. Phocas Financial Corp. lifted its position in shares of Jack in the Box by 1.8% during the fourth quarter. Phocas Financial Corp. now owns 76,898 shares of the restaurant operator’s stock worth $6,277,000 after purchasing an additional 1,375 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Jack in the Box by 3.5% during the fourth quarter. Victory Capital Management Inc. now owns 137,037 shares of the restaurant operator’s stock worth $11,186,000 after purchasing an additional 4,635 shares in the last quarter. Institutional investors and hedge funds own 99.79% of the company’s stock.

Insider Transactions at Jack in the Box

In other news, CEO Darin S. Harris sold 598 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $51.64, for a total transaction of $30,880.72. Following the transaction, the chief executive officer now owns 90,887 shares of the company’s stock, valued at approximately $4,693,404.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold 800 shares of company stock valued at $41,514 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Jack in the Box Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Friday, August 30th. Jack in the Box’s payout ratio is 30.99%.

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.