Jersey Mike's (NYSE:JMKE) Stock Has Consensus Price Target of $26.91

Key Points

• Analyst sentiment is broadly positive: 21 of 27 analysts rate Jersey Mike’s a buy, five say hold and one says sell. The consensus rating is “Moderate Buy,” with an average 12-month price target of $26.91.
• Quarterly results beat estimates: The company reported EPS of $0.23 versus a $0.16 consensus estimate, while revenue rose 10% year over year to $209 million.
• Investors are due a special dividend: Jersey Mike’s announced a $0.35 per-share payment. Meanwhile, insiders sold about $120.8 million of shares over the last quarter.

Jersey Mike's (NYSE:JMKE - Get Free Report) has received an average recommendation of "Moderate Buy" from the twenty-seven research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $26.91.

JMKE has been the topic of a number of research analyst reports. Mizuho dropped their price objective on shares of Jersey Mike's from $31.00 to $29.00 and set an "outperform" rating on the stock in a report on Thursday, September 10th. William Blair reiterated an "outperform" rating on shares of Jersey Mike's in a research note on Wednesday, September 9th. Evercore began coverage on Jersey Mike's in a research report on Monday, August 24th. They issued an "outperform" rating and a $28.00 target price for the company. Wells Fargo & Company dropped their price target on Jersey Mike's from $25.00 to $21.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 29th. Finally, Weiss Ratings started coverage on shares of Jersey Mike's in a report on Monday, October 26th. They issued a "sell (d)" rating on the stock.

Jersey Mike's Price Performance

NYSE:JMKE opened at $19.02 on Friday. The stock has a 50-day simple moving average of $18.70. Jersey Mike's has a twelve month low of $15.96 and a twelve month high of $24.99. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 1.15.

Jersey Mike's (NYSE:JMKE - Get Free Report) last issued its earnings results on Wednesday, October 28th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.07. The firm had revenue of $209.00 million during the quarter. Jersey Mike's's revenue for the quarter was up 10.0% compared to the same quarter last year. On average, research analysts expect that Jersey Mike's will post 0.64 earnings per share for the current year.

Jersey Mike's Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, November 5th.

Insider Transactions at Jersey Mike's

In other Jersey Mike's news, major shareholder Abu Dhabi Investment Authority sold 382,134 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $21.85, for a total transaction of $8,349,627.90. Following the completion of the transaction, the insider directly owned 35,732,138 shares of the company's stock, valued at approximately $780,747,215.30. This trade represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Submarine Buyer Llc sold 2,572,560 shares of the business's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $21.85, for a total transaction of $56,210,436.00. Following the sale, the insider directly owned 143,699 shares in the company, valued at approximately $3,139,823.15. The trade was a 94.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 5,527,254 shares of company stock worth $120,770,500 over the last quarter.

About Jersey Mike's

Jersey Mike's, commonly known as Jersey Mike's Subs, is a fast-casual restaurant company focused on submarine sandwiches and related food offerings. Its menu includes hot and cold subs, wraps, salads, beverages and desserts, with catering services also available at many locations.

The business operates primarily through a franchise-based model under the Jersey Mike's Subs brand. Restaurants are known for preparing sandwiches to order, including sliced meats and cheeses, fresh vegetables and the company's signature “Mike's Way” preparation.

Jersey Mike's traces its roots to 1956, when the original submarine shop opened in Point Pleasant, New Jersey.

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