Shake Shack Inc (SHAK) Expected to Post Quarterly Sales of $89.99 Million
Wall Street brokerages predict that Shake Shack Inc (NYSE:SHAK) will post $89.99 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Shake Shack’s earnings, with estimates ranging from $86.60 million to $92.70 million. Shake Shack reported sales of $66.47 million in the same quarter last year, which indicates a positive year over year growth rate of 35.4%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, August 9th.
On average, analysts expect that Shake Shack will report full-year sales of $89.99 million for the current year, with estimates ranging from $351.40 million to $363.20 million. For the next year, analysts anticipate that the firm will report sales of $448.79 million per share, with estimates ranging from $414.41 million to $463.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Shake Shack.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, May 4th. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.02. Shake Shack had a return on equity of 5.81% and a net margin of 5.03%. The company had revenue of $76.70 million during the quarter, compared to analysts’ expectations of $74.71 million. During the same period in the prior year, the company earned $0.08 EPS. Shake Shack’s revenue was up 41.5% compared to the same quarter last year.
SHAK has been the subject of several recent research reports. Wedbush raised shares of Shake Shack from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $30.00 to $33.00 in a research note on Monday, March 20th. Goldman Sachs Group, Inc. (The) lowered their price target on shares of Shake Shack from $34.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, April 6th. Zacks Investment Research raised shares of Shake Shack from a “sell” rating to a “hold” rating in a research note on Wednesday, May 3rd. Buckingham Research raised shares of Shake Shack from a “neutral” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Friday, May 5th. They noted that the move was a valuation call. Finally, Cowen and Company decreased their price objective on shares of Shake Shack from $37.00 to $35.00 and set a “market perform” rating on the stock in a research report on Friday, May 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $37.88.
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In related news, COO Zach Koff sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $38.00, for a total transaction of $190,000.00. Following the transaction, the chief operating officer now owns 8,978 shares in the company, valued at $341,164. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Peggy Rubenzer sold 10,719 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $36.68, for a total transaction of $393,172.92. Following the transaction, the senior vice president now owns 28,134 shares in the company, valued at approximately $1,031,955.12. The disclosure for this sale can be found here. Insiders sold 478,307 shares of company stock worth $17,295,134 in the last 90 days. Corporate insiders own 34.91% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. FNY Partners Fund LP acquired a new stake in shares of Shake Shack during the first quarter worth $100,000. BNP Paribas Arbitrage SA boosted its stake in shares of Shake Shack by 206.3% in the first quarter. BNP Paribas Arbitrage SA now owns 3,666 shares of the company’s stock worth $122,000 after buying an additional 2,469 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Shake Shack by 109.7% in the first quarter. Victory Capital Management Inc. now owns 3,715 shares of the company’s stock worth $124,000 after buying an additional 1,943 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Shake Shack by 85.2% in the second quarter. State of Alaska Department of Revenue now owns 3,630 shares of the company’s stock worth $126,000 after buying an additional 1,670 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of Shake Shack during the first quarter worth $137,000. Institutional investors own 97.02% of the company’s stock.
Shares of Shake Shack (NYSE SHAK) traded up 0.14% on Friday, hitting $35.30. The stock had a trading volume of 158,639 shares. The firm has a 50-day moving average of $37.28 and a 200 day moving average of $35.41. Shake Shack has a 1-year low of $30.36 and a 1-year high of $42.94. The company has a market capitalization of $909.22 million, a PE ratio of 65.61 and a beta of 1.32.
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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