KeyCorp Equities Analysts Boost Earnings Estimates for Jack in the Box Inc. (NASDAQ:JACK)

Jack in the Box Inc. (NASDAQ:JACK – Get Rating) – Analysts at KeyCorp raised their FY2023 earnings per share (EPS) estimates for shares of Jack in the Box in a research report issued on Wednesday, March 1st. KeyCorp analyst E. Gonzalez now forecasts that the restaurant operator will earn $5.92 per share for the year, up from their prior estimate of $5.54. The consensus estimate for Jack in the Box’s current full-year earnings is $5.54 per share. KeyCorp also issued estimates for Jack in the Box’s Q1 2024 earnings at $2.07 EPS, Q2 2024 earnings at $1.41 EPS, Q3 2024 earnings at $1.54 EPS, Q4 2024 earnings at $1.67 EPS and FY2024 earnings at $6.68 EPS.

A number of other equities research analysts have also recently commented on JACK. Oppenheimer raised their price objective on Jack in the Box from $85.00 to $96.00 in a report on Thursday. Royal Bank of Canada raised their price objective on Jack in the Box from $80.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday. Credit Suisse Group raised their price objective on Jack in the Box from $73.00 to $80.00 and gave the stock an “underperform” rating in a report on Thursday. UBS Group raised their price objective on Jack in the Box from $75.00 to $88.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Cowen raised their price objective on Jack in the Box from $80.00 to $87.00 and gave the stock a “market perform” rating in a report on Thursday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Jack in the Box currently has a consensus rating of “Hold” and a consensus target price of $87.56.

Jack in the Box Stock Performance

Shares of NASDAQ:JACK opened at $87.46 on Friday. The business’s fifty day moving average price is $75.99 and its two-hundred day moving average price is $78.19. The stock has a market cap of $1.80 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 0.90 and a beta of 1.62. Jack in the Box has a one year low of $54.80 and a one year high of $94.68.

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

Jack in the Box Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Tuesday, March 14th. Jack in the Box’s dividend payout ratio (DPR) is presently 28.57%.

Insider Buying and Selling at Jack in the Box

In other Jack in the Box news, CMO Ryan Lee Ostrom sold 326 shares of the firm’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $79.89, for a total value of $26,044.14. Following the transaction, the chief marketing officer now directly owns 10,536 shares of the company’s stock, valued at $841,721.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Darin S. Harris sold 2,034 shares of Jack in the Box stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $67.06, for a total transaction of $136,400.04. Following the sale, the chief executive officer now directly owns 33,486 shares of the company’s stock, valued at $2,245,571.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Ryan Lee Ostrom sold 326 shares of Jack in the Box stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $79.89, for a total value of $26,044.14. Following the sale, the chief marketing officer now directly owns 10,536 shares in the company, valued at $841,721.04. The disclosure for this sale can be found here. Insiders have sold 5,177 shares of company stock valued at $358,825 over the last three months. 1.30% of the stock is owned by company insiders.

Institutional Trading of Jack in the Box

A number of hedge funds and other institutional investors have recently modified their holdings of JACK. Ancora Advisors LLC purchased a new stake in shares of Jack in the Box during the first quarter worth about $25,000. Lazard Asset Management LLC purchased a new stake in shares of Jack in the Box during the third quarter worth about $31,000. Advisors Asset Management Inc. increased its position in shares of Jack in the Box by 102.6% during the fourth quarter. Advisors Asset Management Inc. now owns 468 shares of the restaurant operator’s stock worth $32,000 after acquiring an additional 237 shares during the last quarter. Repertoire Partners LP purchased a new stake in shares of Jack in the Box during the second quarter worth about $56,000. Finally, US Asset Management LLC purchased a new stake in shares of Jack in the Box during the fourth quarter worth about $59,000. 99.78% of the stock is owned by hedge funds and other institutional investors.

Jack in the Box Company Profile

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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.