Jack in the Box (NASDAQ:JACK) Issues FY24 Earnings Guidance

Jack in the Box (NASDAQ:JACK) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $6.10 to $6.25 for the period, compared to the consensus estimate of $6.31. Jack in the Box also updated its FY 2024 guidance to 6.100-6.250 EPS.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on JACK shares. The Goldman Sachs Group began coverage on Jack in the Box in a research report on Thursday, June 13th. They issued a sell rating and a $55.00 target price on the stock. Loop Capital decreased their target price on shares of Jack in the Box from $118.00 to $112.00 and set a buy rating for the company in a research note on Wednesday, May 15th. Wedbush dropped their price target on shares of Jack in the Box from $68.00 to $60.00 and set an outperform rating on the stock in a research report on Wednesday. StockNews.com downgraded shares of Jack in the Box from a hold rating to a sell rating in a research report on Wednesday. Finally, Bank of America dropped their target price on shares of Jack in the Box from $83.00 to $79.00 and set a buy rating on the stock in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $71.61.

Jack in the Box Price Performance

Shares of NASDAQ:JACK traded up $0.48 on Friday, hitting $53.04. The company’s stock had a trading volume of 72,992 shares, compared to its average volume of 487,952. Jack in the Box has a 1 year low of $46.10 and a 1 year high of $88.36. The company has a market capitalization of $1.03 billion, a PE ratio of 9.25, a PEG ratio of 0.76 and a beta of 1.91. The company has a 50-day simple moving average of $53.30 and a 200 day simple moving average of $61.70.

Jack in the Box (NASDAQ:JACK) last announced its earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.14. The company had revenue of $369.17 million during the quarter, compared to analyst estimates of $371.81 million. Jack in the Box had a net margin of 7.07% and a negative return on equity of 16.97%. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.45 earnings per share. On average, equities research analysts expect that Jack in the Box will post 6.29 earnings per share for the current fiscal year.

Jack in the Box Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, August 30th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Friday, August 30th. Jack in the Box’s dividend payout ratio is 30.99%.

Insider Buying and Selling at Jack in the Box

In related news, CEO Darin S. Harris sold 598 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $51.64, for a total value of $30,880.72. Following the sale, the chief executive officer now directly owns 90,887 shares of the company’s stock, valued at $4,693,404.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 800 shares of company stock worth $41,514. 1.60% of the stock is currently owned by company insiders.

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.