Jersey Mike’s Subs Inc. (NYSE:JMKE) on Wednesday reported higher adjusted earnings, while revenue came in roughly in line with Wall Street expectations.

Jersey Mike’s reported fiscal second-quarter revenue of $208 million, up 10% year over year and roughly in line with the $208.79 million analyst consensus estimate.

The company expects full-year same-store sales growth of 2.5% to 3%. It forecast third-quarter growth of 3% to 4%. Jersey Mike’s also expects net unit growth of at least 8% and adjusted EBITDA growth of at least 20% for the year.

“Our second quarter same-store sales demonstrate strong progress against our long-term objective of achieving $2 million average unit volumes,” said Charlie Morrison, Chief Executive Officer. “Same-store sales accelerated in the second quarter, driven by transaction growth, which is particularly encouraging given challenged traffic trends across the industry. That acceleration has continued into the third quarter as we seek to broaden our consumer base, grow our digital channels, bring thoughtful innovation to the market, and of course, continue to deliver on our vision of being the world’s most beloved destination for authentic sub sandwiches.”

Jersey Mike’s shares fell 1.5% to trade at $22.04 on Thursday.

These analysts made changes to their price targets on Jersey Mike’s following earnings announcement.

• B of A Securities analyst Sara Senatore maintained the stock with a Buy and raised the price target from $27 to $29.
• Bernstein analyst Danilo Gargiulo maintained the stock with a Market Perform and raised the price target from $26 to $27.

Considering buying JMKE stock? Here’s what analysts think:

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