This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Jackson Hewitt Boosts Wal-Mart Presence

Stocks in this article: JTXWMT

NEW YORK ( TheStreet) -- Jackson Hewitt Tax Services (JTX) plans to operate in more than 2,000 Wal-Mart Stores (WMT)locations in the coming tax season, expanding its presence by roughly 10% from last year's level.

"Across our system, franchisees and company-owned operations managers are energized and prepared to begin setting up Jackson Hewitt kiosks in Walmart stores beginning next week in anticipation of the opening of the tax season," said Harry Buckley, the company's president and CEO, in a press release.

"As we move forward in the second year of our exclusive national arrangement with Walmart, our relationship is stronger than ever," Buckley continued.



The Parsippany, N.J.-based provider of tax preparation services, which has both franchised and company-owned locations, said it operated in around 1,800 Wal-Mart locations last year.

The stock closed Thursday's regular session at $2.27, down a penny. Year-to-date, the shares have fallen roughly 48%, although they scraped a near-term low of 75 cents as recently as Nov. 24. The stock made a strong move higher this past Monday, surging 55 cents, or more than 30%, to close at $2.30 on volume of 6.6 million. The volatile issue's trailing three-month daily average volume sits at 1.1 million.

Of the four analysts covering the stock, three rate it as a hold and one says sell. The company is typically profitable in its fiscal third and fourth quarters ending in January and April respectively. The current average estimates of the analysts polled by Thomson Reuters are for earnings of 32 cents a share on revenue of $76.5 million in the current third quarter and earnings of 99 cents a share on revenue of $122.1 million in the fourth quarter.

In last year's equivalent periods, Jackson Hewitt earned 46 cents a share on revenue of $79.1 million in the January-ended quarter and posted a profit of $1.14 a share on revenue of $125.6 million in the April-ended quarter.

Jackson Hewitt reported its fiscal second-quarter results on Dec. 10, coming in with a narrower than expected loss of $19 million, or 66 cents a share.

-- Written by Michael Baron in New York.



>To contact the writer of this article, click here: Michael Baron.

>To submit a news tip, send an email to: tips@thestreet.com

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,399.67 +19.26 0.12%
S&P 500 1,904.01 +17.25 0.91%
NASDAQ 4,316.0740 +57.6360 1.35%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs