Wedbush Decreases Earnings Estimates for Jack in the Box

Jack in the Box Inc. (NASDAQ:JACK) – Stock analysts at Wedbush lowered their FY2024 EPS estimates for shares of Jack in the Box in a report issued on Monday, November 18th. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings per share of $6.17 for the year, down from their prior estimate of $6.18. Wedbush currently has a “Outperform” rating and a $50.00 target price 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.

Several other analysts also recently issued reports on JACK. Truist Financial reduced their price target on Jack in the Box from $83.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Piper Sandler decreased their price target on shares of Jack in the Box from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Oppenheimer lowered their price target on shares of Jack in the Box from $70.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price objective on shares of Jack in the Box in a report on Monday, November 4th. Finally, Northcoast Research cut shares of Jack in the Box from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $62.81.

Jack in the Box Stock Down 1.2 %

Shares of JACK stock opened at $46.03 on Tuesday. Jack in the Box has a 12-month low of $40.84 and a 12-month high of $86.20. The company has a market capitalization of $880.37 million, a PE ratio of -23.13, a price-to-earnings-growth ratio of 0.70 and a beta of 1.93. The firm has a 50 day moving average price of $46.12 and a two-hundred day moving average price of $50.32.

Hedge Funds Weigh In On Jack in the Box

Hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Jack in the Box by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 9,733 shares of the restaurant operator’s stock valued at $496,000 after purchasing an additional 358 shares in the last quarter. EntryPoint Capital LLC boosted its holdings in Jack in the Box by 73.2% during the 1st quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock worth $59,000 after acquiring an additional 366 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Jack in the Box by 11.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,997 shares of the restaurant operator’s stock worth $255,000 after acquiring an additional 503 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Jack in the Box by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,914 shares of the restaurant operator’s stock valued at $1,090,000 after purchasing an additional 644 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Jack in the Box by 4.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 18,486 shares of the restaurant operator’s stock valued at $1,265,000 after purchasing an additional 790 shares in the last quarter. Institutional investors and hedge funds own 99.79% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Brian M. Scott sold 696 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $48.66, for a total value of $33,867.36. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Friday, August 30th. Jack in the Box’s dividend payout ratio (DPR) is presently -88.44%.

Jack in the Box Company Profile

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.