Jack in the Box price target raised to $65 from $53 at Oppenheimer Oppenheimer increased its price target on Jack in the Box after the company reported stronger than expected Q1 results. The firm thinks the company could report higher than expected earnings going forward, while its multiple could expand. The firm keeps an Outperform rating on the stock.
Jack in the Box says 'committed' to returning cash to shareholders Says Q2 sales increased in all major markets. Says weather was "more of a factor" in Q2 this year vs.last year. Says during Q2, there were three weeks negatively impacted by weather for Qdoba. Says "pleased" with how both brands are performing. Says "committed" to returning cash to shareholders. Now sees FY commodity costs up approximately 2%. Says FY15 operating EPS guidance now includes expected 6c charge related to removal of existing beverage equipment in Q3 and Q4. Comments made on the Q2 earnings conference call. Jack in the Box is down 4.23% to $87.90 in late-morning trading.
Jack in the Box reports Q2 operating EPS 69c, consensus 67c Reports Q2 revenue $358.1M, consensus $356.14M. Jack in the Box system same-store sales increased 8.9% for the quarter and company same-store sales increased 7.4%. Qdoba same-store sales increased 8.3% system-wide and 7.0% for company restaurants in Q2.