Jack in the Box (NASDAQ:JACK) Releases Earnings Results, Beats Expectations By $0.03 EPS

Jack in the Box (NASDAQ:JACK - Get Free Report) announced its earnings results on Tuesday. The restaurant operator reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.03, Briefing.com reports. The company had revenue of $365.40 million during the quarter, compared to analyst estimates of $369.53 million. Jack in the Box had a net margin of 7.03% and a negative return on equity of 17.24%. Jack in the Box's revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.47 earnings per share. Jack in the Box updated its FY24 guidance to $6.25-6.40 EPS and its FY 2024 guidance to 6.250-6.400 EPS.

Jack in the Box Stock Performance

Shares of JACK traded up $0.34 during mid-day trading on Wednesday, hitting $53.41. The company's stock had a trading volume of 910,133 shares, compared to its average volume of 462,356. The stock's 50-day moving average is $63.06 and its two-hundred day moving average is $71.01. The firm has a market capitalization of $1.05 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 0.65 and a beta of 1.81. Jack in the Box has a one year low of $52.01 and a one year high of $99.56.

Jack in the Box Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Thursday, June 6th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Thursday, June 6th. Jack in the Box's dividend payout ratio is currently 30.93%.

Insider Buying and Selling

In other Jack in the Box news, Director Michael W. Murphy sold 1,332 shares of the firm's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $72.58, for a total value of $96,676.56. Following the sale, the director now directly owns 71,035 shares in the company, valued at approximately $5,155,720.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 1,808 shares of company stock valued at $129,530. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

JACK has been the subject of several research analyst reports. Oppenheimer lowered their price target on Jack in the Box from $98.00 to $75.00 and set an "outperform" rating for the company in a research report on Wednesday. StockNews.com upgraded shares of Jack in the Box from a "sell" rating to a "hold" rating in a research note on Friday, March 1st. Wedbush lowered their price objective on shares of Jack in the Box from $78.00 to $68.00 and set an "outperform" rating for the company in a research note on Wednesday. Morgan Stanley cut their target price on shares of Jack in the Box from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Finally, Piper Sandler cut their price objective on Jack in the Box from $81.00 to $67.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 8th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $78.94.

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.