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February 21, 2013
12:00 EDTJACKJack in the Box shares higher after Q1 results beat expectations
Shares of restaurant operator Jack in the Box (JACK) are trading higher after its Q1 results beat consensus estimates. For the quarter, the company reported adjusted earnings per share of 54c, against estimates for 39c, and revenue of $465.5M, against estimates of $457.8M. Company same-store sales increased 2.1% in the quarter and system same-store sales increased 1.9%. Looking ahead, the company forecast Q2 SSS about flat at Jack in the Box company restaurants and flat to down 2% at Qdoba company restaurants. For FY13, the company sees ongoing earnings per share of $1.48-$1.63, against estimates for $1.55. SSS are expected to increase approximately 1.5%-2.5% at Jack in the Box company restaurants and about 1%-2% at Qdoba restaurants. The company sees overall commodity costs up by about 2%-3% for the fiscal year, with Jack in the Box forecasting beef costs up 4% and chicken prices up approximately 6%. Additionally, the company expects to open 20-25 new Jack in the Box restaurants and 70-85 new Qdoba restaurants, it said. Capital expenditures for the year are slated to come in at $95M-$105M and the tax rate is expected to be approximately 35%-36%. On the Q1 earnings conference call, the company said it plans to repurchase approximately $50M of stock over the next three quarters. Jack in the Box shares are trading up $1.76, or 5.87%, to $31.73 in late-morning trading.
News For JACK From The Last 14 Days
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September 29, 2015
11:38 EDTJACKMcDonald's rises as analysts weigh in on fast food sector
Shares of McDonald's (MCD) rose in morning trading after Credit Suisse upgraded the Big Mac maker to Outperform. Some McDonald's competitors were also active after Telsey Advisory initiated coverage on multiple companies in the quick-serve and fast casual restaurant space. WHAT'S NEW: Credit Suisse analyst Jason West upgraded McDonald's to Outperform and raised his price target on its shares to $112 from $110. West said that more improvements for the company are "forthcoming" even after CEO Steve Easterbrook announced positive operational and financial steps. The analyst added that checks suggest that U.S. same-store sales trends are beginning to turn as a result of operational and menu changes, as well as some new product wins. West said he sees 5%-6% possible upside to current 2016 expectations and views a favorable risk/reward of roughly 2%-3% downside as opposed to 20% upside, even if the turnaround is "fairly modest." NOTABLE INITIATIONS: Separately, Telsey Advisory Group analyst Bob Derrington initiated coverage of several companies in the restaurant sector, stamping Panera (PNRA) with an Outperform rating and a $225 price target. The analyst noted that the company's plan to become a better dining alternative continues to build traction and that same-store sales trends are likely to speed up in 2016 and 2017. Derrington initiated Jack in the Box (JACK) with an Outperform rating and a price target of $95, as he sees it being positioned for strong appreciation in the year ahead based on management's plan to revitalize and differentiate the Jack in the Box brand. The analyst also expects the company to further differentiate, improve the returns, and position its Qdoba brand for quick growth and recycle its franchise cash flow for better shareholder returns. Derrington initiated coverage of Chipotle (CMG) with a Market Perform rating and an $800 price target, saying that despite the firm's positive prospects due to better-than-most-peer same-store sales and revenue growth, the company's margin risk makes him take a more cautious approach to his rating of the stock. The analyst also tagged Buffalo Wild Wings (BWLD) with a Market Perform rating and a $220 price target, noting that the company's strong growth prospects seem to be reflected in its premium valuation. PRICE ACTION: In morning trading, McDonald's shares rose 1.6% to $97.49, Panera shares gained 0.9% to $191, Jack in the Box advanced 1.1% to $78.24, Chipotle added 1% to $715 and Buffalo Wild Wings were 1.3% higher at $195.68.
10:00 EDTJACKOn The Fly: Analyst Initiation Summary
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06:10 EDTJACKJack in the Box initiated with an Outperform at Telsey Advisory
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September 24, 2015
07:32 EDTJACKJack in the Box has reached 'interesting' entry point, says Oppenheimer
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September 21, 2015
16:07 EDTJACKJack in the Box announces new $200M share repurchase program
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