Jack in the Box Inc. Expected to Post Q4 2023 Earnings of $1.31 Per Share (NASDAQ:JACK)

Jack in the Box Inc. (NASDAQ:JACK – Get Rating) – Investment analysts at KeyCorp lowered their Q4 2023 EPS estimates for Jack in the Box in a research note issued on Wednesday, May 17th. KeyCorp analyst E. Gonzalez now forecasts that the restaurant operator will post earnings per share of $1.31 for the quarter, down from their prior forecast of $1.39. The consensus estimate for Jack in the Box’s current full-year earnings is $6.06 per share. KeyCorp also issued estimates for Jack in the Box’s FY2024 earnings at $6.64 EPS.

Jack in the Box (NASDAQ:JACK – Get Rating) last posted its quarterly earnings results on Wednesday, May 17th. The restaurant operator reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.27. Jack in the Box had a net margin of 8.61% and a negative return on equity of 17.88%. The firm had revenue of $395.70 million during the quarter, compared to the consensus estimate of $385.44 million. During the same period in the previous year, the firm posted $1.16 earnings per share. The business’s revenue was up 22.8% compared to the same quarter last year.

Several other equities research analysts also recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Jack in the Box from $85.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, April 17th. Barclays lifted their price objective on shares of Jack in the Box from $84.00 to $99.00 in a report on Thursday. Oppenheimer lifted their price objective on shares of Jack in the Box from $96.00 to $108.00 and gave the company an “outperform” rating in a report on Monday, May 15th. 51job reiterated a “maintains” rating on shares of Jack in the Box in a report on Monday, May 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Jack in the Box from $75.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $96.24.

Jack in the Box Trading Down 2.2 %

JACK opened at $92.69 on Monday. Jack in the Box has a 1-year low of $54.80 and a 1-year high of $97.99. The company has a market cap of $1.89 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 0.92 and a beta of 1.64. The company has a fifty day moving average price of $88.58 and a two-hundred day moving average price of $80.51.

Jack in the Box Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 13th. Stockholders of record on Wednesday, May 31st will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, May 30th. Jack in the Box’s dividend payout ratio is currently 24.93%.

Insider Activity

In related news, insider Chad Gretzema sold 521 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $97.99, for a total transaction of $51,052.79. Following the sale, the insider now directly owns 10,933 shares in the company, valued at approximately $1,071,324.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Chad Gretzema sold 521 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $97.99, for a total transaction of $51,052.79. Following the sale, the insider now directly owns 10,933 shares in the company, valued at approximately $1,071,324.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Sarah L. Super sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $93.90, for a total transaction of $328,650.00. Following the sale, the senior vice president now owns 6,875 shares in the company, valued at $645,562.50. The disclosure for this sale can be found here. Insiders sold 6,264 shares of company stock valued at $570,006 in the last three months. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Jack in the Box

A number of institutional investors have recently modified their holdings of JACK. Capital World Investors purchased a new stake in shares of Jack in the Box during the 1st quarter valued at approximately $98,706,000. BlackRock Inc. lifted its stake in Jack in the Box by 36.3% in the 1st quarter. BlackRock Inc. now owns 3,284,343 shares of the restaurant operator’s stock worth $306,789,000 after purchasing an additional 874,419 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Jack in the Box in the 3rd quarter worth approximately $55,268,000. Millennium Management LLC lifted its stake in Jack in the Box by 4,575.5% in the 2nd quarter. Millennium Management LLC now owns 313,963 shares of the restaurant operator’s stock worth $17,601,000 after purchasing an additional 307,248 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Jack in the Box by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 2,254,354 shares of the restaurant operator’s stock worth $210,580,000 after purchasing an additional 207,183 shares in the last quarter. 99.78% of the stock is currently owned by hedge funds and other 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.