Shake Shack Inc. (NYSE:SHAK) – Equities research analysts at Oppenheimer lowered their Q2 2022 earnings per share (EPS) estimates for shares of Shake Shack in a research note issued to investors on Tuesday, January 11th. Oppenheimer analyst M. Tamas now anticipates that the company will post earnings per share of $0.17 for the quarter, down from their prior forecast of $0.18. Oppenheimer also issued estimates for Shake Shack’s FY2022 earnings at $0.15 EPS and FY2023 earnings at $0.56 EPS.
Several other equities analysts also recently commented on the stock. MKM Partners dropped their price objective on shares of Shake Shack from $103.00 to $83.00 and set a “neutral” rating for the company in a research note on Tuesday, November 2nd. Morgan Stanley dropped their price objective on shares of Shake Shack from $87.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday. Northcoast Research downgraded shares of Shake Shack from a “buy” rating to a “neutral” rating in a research note on Monday, November 8th. UBS Group initiated coverage on shares of Shake Shack in a research note on Friday, December 3rd. They set a “neutral” rating and a $78.00 price target for the company. Finally, Truist Securities raised their price target on shares of Shake Shack from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Shake Shack currently has an average rating of “Hold” and a consensus price target of $93.17.
Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Thursday, November 4th. The company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The business had revenue of $193.90 million during the quarter, compared to the consensus estimate of $197.47 million. Shake Shack had a negative net margin of 2.64% and a positive return on equity of 0.19%. The firm’s revenue was up 48.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.11) EPS.
A number of hedge funds and other institutional investors have recently made changes to their positions in SHAK. Envestnet Asset Management Inc. grew its holdings in Shake Shack by 38.1% in the second quarter. Envestnet Asset Management Inc. now owns 17,685 shares of the company’s stock worth $1,893,000 after purchasing an additional 4,878 shares during the period. HighTower Advisors LLC grew its holdings in Shake Shack by 7.5% in the second quarter. HighTower Advisors LLC now owns 6,286 shares of the company’s stock worth $673,000 after purchasing an additional 441 shares during the period. Citigroup Inc. grew its holdings in Shake Shack by 102.3% in the second quarter. Citigroup Inc. now owns 35,969 shares of the company’s stock worth $3,849,000 after purchasing an additional 18,190 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in Shake Shack by 9.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 12,477 shares of the company’s stock worth $1,335,000 after purchasing an additional 1,095 shares during the period. Finally, BNP Paribas Arbitrage SA grew its holdings in Shake Shack by 77.2% in the second quarter. BNP Paribas Arbitrage SA now owns 14,562 shares of the company’s stock worth $1,558,000 after purchasing an additional 6,345 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.
Shake Shack Company Profile
Shake Shack, Inc operates as a holding company. The firm engages in operating fast food hamburger restaurants. It offers beef burgers, flat-top dogs, chicken sandwiches, frozen custard and crinkle cut fries and includes all the mobile ordering essentials. The company was founded by Daniel Harris Meyer on September 23, 2014 and is headquartered in New York, NY.
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