Jack in the Box Inc. (NASDAQ:JACK) announced a $200 million share repurchase program on September 21, exactly a month ago. The announcement has certainly caused some influence on the company’s stock performance.
The share buyback program was part of the company’s efforts to return capital to its shareholders. The firm strategically issued the announcement just as the shares were at their highest values for the past five years. The news seems to have evoked a positive response from the stock market, though not as much. Jack shares rose in value by an overall 1.89% in the past one month despite a shortfall of 0.52% over the past one week. Looking at the share performance from a wider angle, the stock has dropped by 16.74% over the last three months.
The S&P index, however, registered some negative numbers including a 1.87% decline over the past four weeks and 1.41% over the past one week. The company managed to rise by 1.04% on Friday, starting the trading day at $ $76.22 and ending the trading session at $77.01. JACK’s shares hit the day’s high at $ $77.37 and the day’s low at $76.03. The company’s trading volume for the day was 262, 725 shares the 52-week average share price ranged between $99.99 and $63.84. JACK’s market capitalization was $2,817 million.
The overall analysis of the company’s shares indicates that investors have been optimistic about the stock though there was not much influence. Jack In The Box Inc. (NASDAQ:JACK) reported an EPS of $.61 before making tax, amortization and debt deductions. Zacks estimate has provided an EPS projection of $0.81 per share for the current quarter. The projection was based on a data analysis average from four firms in which the highest projection was $ 0.91 while the lowest value provided was $ 0.71. Insider selling activities indicates that the firm unloaded shares worth $1,151,820 with an average share price of $90.
