Jack in the Box (JACK) Reports 4Q Results and 2016 Guidance; Jefferies Reiterates Buy
Jefferies reiterated a Buy rating and $107.00 price target on Jack In The Box (NASDAQ: JACK) following the company's 4Q earnings report. EPS of $0.62 hit the mid-point of guidance, but was below consensus estimates of $0.65. EPS guide for F16 introduced at $3.55-3.70, which is well-above the $3.54 consensus-estimate as SG&A continues to come down and underlying SSS momentum is expected to continue.
Analyst Alexander Slagle commented, "EPS (ex. refranch gains) of $0.62 hit the mid-point of guide but was below cons of $0.65 as JIB & Qdoba delivered inline SSS (6.2% & 6.6%) and store margins improved 200bps Y/Y. F16 EPS outlook introduced at $3.55-3.70 (+21% at midpt), well-above cons $3.54 as SG&A continues to come down and underlying SSS momentum is expected to continue (looking for 2-4%, which is relatively steady on a 2-yr basis). CC tomorrow at 11:30am ET."
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Shares of Jack In The Box closed at $69.99 yesterday.