Wall Street brokerages expect Shake Shack Inc (NYSE:SHAK) to post $97.29 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Shake Shack’s earnings. The highest sales estimate is $100.31 million and the lowest is $92.89 million. Shake Shack posted sales of $76.75 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 26.8%. The business is scheduled to issue its next quarterly earnings report on Thursday, May 3rd.
On average, analysts expect that Shake Shack will report full-year sales of $97.29 million for the current year, with estimates ranging from $444.34 million to $455.37 million. For the next year, analysts expect that the business will report sales of $583.86 million per share, with estimates ranging from $560.77 million to $610.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Shake Shack.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.04. The business had revenue of $96.14 million for the quarter, compared to analyst estimates of $92.80 million. Shake Shack had a positive return on equity of 9.50% and a negative net margin of 0.63%. The company’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 EPS.
Several brokerages have recently commented on SHAK. Barclays decreased their price target on Shake Shack from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Friday, February 16th. Wedbush reissued a “hold” rating and set a $38.00 price target on shares of Shake Shack in a research note on Friday, February 16th. SunTrust Banks set a $54.00 price target on Shake Shack and gave the stock a “buy” rating in a research note on Friday, February 16th. Morgan Stanley boosted their price target on Shake Shack from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. Finally, Cowen boosted their price target on Shake Shack from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $39.12.
Shares of Shake Shack (SHAK) traded up $0.26 during trading hours on Tuesday, hitting $37.89. The stock had a trading volume of 806,441 shares, compared to its average volume of 1,014,526. The stock has a market cap of $1,413.33, a price-to-earnings ratio of -473.00, a price-to-earnings-growth ratio of 3.58 and a beta of 1.33. Shake Shack has a fifty-two week low of $30.12 and a fifty-two week high of $47.39.
In related news, Director Daniel Harris Meyer sold 100,000 shares of Shake Shack stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $45.93, for a total transaction of $4,593,000.00. Following the completion of the transaction, the director now directly owns 642 shares in the company, valued at approximately $29,487.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Randall J. Garutti sold 11,000 shares of Shake Shack stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $44.64, for a total value of $491,040.00. Following the transaction, the chief executive officer now owns 21,961 shares of the company’s stock, valued at $980,339.04. The disclosure for this sale can be found here. Insiders have sold a total of 1,026,707 shares of company stock valued at $43,550,348 over the last 90 days. Insiders own 34.91% of the company’s stock.
Several institutional investors have recently modified their holdings of SHAK. Elkfork Partners LLC acquired a new position in shares of Shake Shack during the 4th quarter worth approximately $123,000. Cipher Capital LP acquired a new position in Shake Shack in the 3rd quarter valued at $211,000. Sciencast Management LP acquired a new position in Shake Shack in the 4th quarter valued at $227,000. Millennium Management LLC acquired a new position in Shake Shack in the 4th quarter valued at $228,000. Finally, Municipal Employees Retirement System of Michigan raised its holdings in Shake Shack by 58.9% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 6,960 shares of the company’s stock valued at $231,000 after acquiring an additional 2,580 shares during the last quarter. Hedge funds and other institutional investors own 82.49% of the company’s stock.
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Shake Shack Company Profile
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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