Equities analysts expect that Shake Shack, Inc. (NYSE:SHAK) will report $93.22 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Shake Shack’s earnings. The highest sales estimate is $94.64 million and the lowest is $91.72 million. Shake Shack reported sales of $73.27 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 27.2%. The company is scheduled to announce its next earnings report on Wednesday, March 7th.
On average, analysts expect that Shake Shack will report full-year sales of $93.22 million for the current financial year, with estimates ranging from $354.30 million to $357.31 million. For the next fiscal year, analysts expect that the firm will post sales of $456.50 million per share, with estimates ranging from $436.57 million to $466.93 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Shake Shack.
Shake Shack (NYSE:SHAK) last released its earnings results on Wednesday, November 1st. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $94.60 million for the quarter, compared to the consensus estimate of $94.17 million. Shake Shack had a return on equity of 9.42% and a net margin of 4.78%. The firm’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period last year, the business earned $0.15 earnings per share.
Several research analysts recently weighed in on SHAK shares. BidaskClub upgraded shares of Shake Shack from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 14th. SunTrust Banks reiterated a “buy” rating and set a $48.00 target price on shares of Shake Shack in a research report on Thursday, October 12th. Cowen upped their price objective on shares of Shake Shack from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, November 2nd. Morgan Stanley upgraded shares of Shake Shack from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company from $43.04 to $34.00 in a research report on Thursday, December 7th. Finally, Barclays upped their target price on shares of Shake Shack from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Shake Shack currently has an average rating of “Hold” and a consensus price target of $37.33.
In other Shake Shack news, CEO Randall J. Garutti sold 8,000 shares of the stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $35.62, for a total value of $284,960.00. Following the transaction, the chief executive officer now directly owns 18,961 shares of the company’s stock, valued at approximately $675,390.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Zach Koff sold 5,000 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $37.00, for a total transaction of $185,000.00. Following the completion of the transaction, the chief operating officer now directly owns 8,978 shares in the company, valued at $332,186. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 699,897 shares of company stock worth $27,591,977. 34.91% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in Shake Shack by 5.7% in the 2nd quarter. FMR LLC now owns 2,615,287 shares of the company’s stock valued at $91,221,000 after acquiring an additional 142,140 shares during the period. Vanguard Group Inc. raised its holdings in Shake Shack by 9.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,641,799 shares of the company’s stock valued at $57,266,000 after acquiring an additional 143,027 shares during the period. Sylebra HK Co Ltd raised its holdings in Shake Shack by 2.6% in the 3rd quarter. Sylebra HK Co Ltd now owns 1,001,849 shares of the company’s stock valued at $33,291,000 after acquiring an additional 25,546 shares during the period. Macquarie Group Ltd. raised its holdings in Shake Shack by 18.9% in the 2nd quarter. Macquarie Group Ltd. now owns 844,390 shares of the company’s stock valued at $29,452,000 after acquiring an additional 134,386 shares during the period. Finally, Lord Abbett & CO. LLC raised its holdings in Shake Shack by 101.3% in the 2nd quarter. Lord Abbett & CO. LLC now owns 706,704 shares of the company’s stock valued at $24,650,000 after acquiring an additional 355,674 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.
Shake Shack (NYSE SHAK) traded down $0.03 during midday trading on Thursday, reaching $45.71. The company’s stock had a trading volume of 643,300 shares, compared to its average volume of 720,761. The firm has a market capitalization of $1,679.98, a P/E ratio of 81.68, a price-to-earnings-growth ratio of 3.95 and a beta of 1.43. Shake Shack has a 12 month low of $30.12 and a 12 month high of $46.90.
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About Shake Shack
Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.
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