Wedbush Analysts Lift Earnings Estimates for Jack in the Box Inc. (NASDAQ:JACK)

Jack in the Box Inc. (NASDAQ:JACK) – Equities research analysts at Wedbush raised their Q3 2021 earnings per share estimates for shares of Jack in the Box in a research report issued on Thursday, May 13th. Wedbush analyst N. Setyan now anticipates that the restaurant operator will earn $1.44 per share for the quarter, up from their previous estimate of $1.43. Wedbush currently has a “Outperform” rating and a $135.00 target price on the stock. Wedbush also issued estimates for Jack in the Box’s Q4 2021 earnings at $1.66 EPS, FY2021 earnings at $6.74 EPS, Q2 2022 earnings at $1.55 EPS, Q3 2022 earnings at $1.74 EPS, Q4 2022 earnings at $1.58 EPS and Q2 2023 earnings at $1.72 EPS.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings results on Tuesday, May 11th. The restaurant operator reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.23. The company had revenue of $257.22 million during the quarter, compared to analyst estimates of $248.04 million. Jack in the Box had a net margin of 8.79% and a negative return on equity of 12.94%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 earnings per share.

Other equities research analysts also recently issued reports about the stock. Cowen upped their price objective on shares of Jack in the Box from $120.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, May 10th. Morgan Stanley upped their price objective on shares of Jack in the Box from $113.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday. Barclays upped their price objective on shares of Jack in the Box from $113.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday. Stifel Nicolaus upped their price objective on shares of Jack in the Box from $125.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, April 20th. Finally, OTR Global raised shares of Jack in the Box to a “positive” rating in a report on Wednesday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $120.19.

JACK opened at $118.92 on Friday. The firm has a market cap of $2.71 billion, a P/E ratio of 30.57, a PEG ratio of 1.61 and a beta of 1.67. The firm has a 50-day moving average of $116.37 and a 200 day moving average of $100.69. Jack in the Box has a fifty-two week low of $61.00 and a fifty-two week high of $124.53.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its position in Jack in the Box by 1.5% during the first quarter. BlackRock Inc. now owns 2,806,744 shares of the restaurant operator’s stock valued at $308,124,000 after acquiring an additional 42,366 shares during the last quarter. Wells Fargo & Company MN grew its position in Jack in the Box by 13.0% during the fourth quarter. Wells Fargo & Company MN now owns 1,116,978 shares of the restaurant operator’s stock valued at $103,654,000 after acquiring an additional 128,358 shares during the last quarter. Franklin Resources Inc. grew its position in Jack in the Box by 5.2% during the first quarter. Franklin Resources Inc. now owns 999,748 shares of the restaurant operator’s stock valued at $109,753,000 after acquiring an additional 49,072 shares during the last quarter. Jennison Associates LLC grew its position in Jack in the Box by 5.8% during the fourth quarter. Jennison Associates LLC now owns 745,582 shares of the restaurant operator’s stock valued at $69,190,000 after acquiring an additional 41,110 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its position in Jack in the Box by 177.4% during the first quarter. Westwood Holdings Group Inc. now owns 597,994 shares of the restaurant operator’s stock valued at $65,648,000 after acquiring an additional 382,408 shares during the last quarter.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 11th. Investors of record on Wednesday, May 26th will be paid a $0.44 dividend. This is an increase from Jack in the Box’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, May 25th. Jack in the Box’s dividend payout ratio (DPR) is currently 34.41%.

Jack in the Box Company Profile

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of September 27, 2020, it operated and franchised 2,241 Jack in the Box quick-service restaurants primarily in the western and southern United States, including one in Guam. The company was founded in 1951 and is headquartered in San Diego, California.

See Also: What is the strike price in options trading?

Earnings History and Estimates for Jack in the Box (NASDAQ:JACK)

Receive News & Ratings for Jack in the Box Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jack in the Box and related companies with MarketBeat.com's FREE daily email newsletter.