$93.16 Million in Sales Expected for Shake Shack Inc (SHAK) This Quarter

Brokerages expect Shake Shack Inc (NYSE:SHAK) to report $93.16 million in sales for the current quarter, according to Zacks. Five analysts have made estimates for Shake Shack’s earnings, with the lowest sales estimate coming in at $91.72 million and the highest estimate coming in at $94.64 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 27.1%. The business is scheduled to issue its next quarterly earnings report after the market closes on Thursday, February 15th.

On average, analysts expect that Shake Shack will report full year sales of $93.16 million for the current fiscal year, with estimates ranging from $354.30 million to $357.31 million. For the next financial year, analysts anticipate that the business will post sales of $459.41 million per share, with estimates ranging from $442.19 million to $466.93 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Shake Shack.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.02. Shake Shack had a return on equity of 9.42% and a net margin of 4.78%. The firm had revenue of $94.60 million during the quarter, compared to the consensus estimate of $94.17 million. During the same period last year, the business posted $0.15 EPS. Shake Shack’s quarterly revenue was up 26.8% on a year-over-year basis.

Several equities analysts have weighed in on SHAK shares. Jefferies Group downgraded Shake Shack from a “hold” rating to an “underperform” rating and set a $36.00 price target for the company. in a research report on Friday, December 22nd. BidaskClub raised Shake Shack from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 14th. SunTrust Banks reissued a “buy” rating and set a $48.00 price target on shares of Shake Shack in a research report on Thursday, October 12th. Cowen raised their price target on Shake Shack from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, November 2nd. Finally, Morgan Stanley raised Shake Shack from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $43.04 to $34.00 in a research report on Thursday, December 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $38.94.

Shake Shack (NYSE SHAK) opened at $41.91 on Friday. Shake Shack has a one year low of $30.12 and a one year high of $47.39. The firm has a market capitalization of $1,577.14, a P/E ratio of 76.68, a P/E/G ratio of 3.46 and a beta of 1.33.

In other news, COO Zach Koff sold 5,000 shares of Shake Shack stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $37.00, for a total value of $185,000.00. Following the completion of the sale, the chief operating officer now owns 8,978 shares of the company’s stock, valued at $332,186. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel Harris Meyer sold 100,000 shares of Shake Shack stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $42.90, for a total value of $4,290,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,105,107 shares of company stock valued at $46,426,728. Company insiders own 34.91% of the company’s stock.

Several large investors have recently made changes to their positions in SHAK. Cipher Capital LP purchased a new stake in shares of Shake Shack in the third quarter valued at $211,000. Municipal Employees Retirement System of Michigan grew its position in shares of Shake Shack by 58.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,960 shares of the company’s stock valued at $231,000 after purchasing an additional 2,580 shares during the period. Parametric Portfolio Associates LLC purchased a new stake in shares of Shake Shack in the second quarter valued at $247,000. Voya Investment Management LLC grew its position in shares of Shake Shack by 46.3% in the second quarter. Voya Investment Management LLC now owns 9,277 shares of the company’s stock valued at $324,000 after purchasing an additional 2,934 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Shake Shack in the second quarter valued at $362,000. 83.27% of the stock is owned by institutional investors and hedge funds.

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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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