$93.22 Million in Sales Expected for Shake Shack Inc (SHAK) This Quarter

Wall Street brokerages forecast that Shake Shack Inc (NYSE:SHAK) will report sales of $93.22 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued 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 in the same quarter last year, which would suggest a positive year over year growth rate of 27.2%. The company is expected to announce its next quarterly earnings results on Wednesday, March 7th.

According to Zacks, analysts expect that Shake Shack will report full-year sales of $93.22 million for the current fiscal year, with estimates ranging from $354.30 million to $357.31 million. For the next fiscal year, analysts expect that the firm will report sales of $457.31 million per share, with estimates ranging from $442.19 million to $466.93 million. Zacks Investment Research’s sales calculations 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 announced its earnings results 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. The firm 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS.

SHAK has been the topic of a number of research reports. BidaskClub raised Shake Shack from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Morgan Stanley raised Shake Shack from an “underweight” rating to an “equal weight” rating and dropped their price objective for the stock from $43.04 to $34.00 in a research note on Thursday, December 7th. Barclays boosted their price objective on Shake Shack from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. Cowen boosted their price objective on Shake Shack from $36.00 to $42.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 19th. Finally, Jefferies Group downgraded Shake Shack from a “hold” rating to an “underperform” rating and set a $36.00 price objective on the stock. in a research note on Saturday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. Shake Shack has an average rating of “Hold” and a consensus target price of $37.76.

In other Shake Shack news, CEO Randall J. Garutti sold 8,000 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $35.62, for a total value of $284,960.00. Following the transaction, the chief executive officer now owns 18,961 shares in the company, valued at $675,390.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Zach Koff sold 5,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $37.00, for a total value of $185,000.00. Following the completion of the transaction, the chief operating officer now owns 8,978 shares in the company, valued at approximately $332,186. The disclosure for this sale can be found here. Insiders sold a total of 906,461 shares of company stock worth $37,017,489 over the last 90 days. Insiders own 34.91% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of SHAK. Teachers Advisors LLC grew its stake in Shake Shack by 2.6% in the first quarter. Teachers Advisors LLC now owns 26,671 shares of the company’s stock valued at $891,000 after purchasing an additional 688 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in shares of Shake Shack by 6.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 4,380 shares of the company’s stock worth $153,000 after buying an additional 280 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Shake Shack by 5.3% in the second quarter. Great West Life Assurance Co. Can now owns 27,215 shares of the company’s stock worth $949,000 after buying an additional 1,382 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Shake Shack by 43.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 97,226 shares of the company’s stock worth $3,392,000 after buying an additional 29,382 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Shake Shack by 4.3% in the second quarter. Arizona State Retirement System now owns 9,700 shares of the company’s stock worth $338,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 83.16% of the company’s stock.

Shares of Shake Shack (NYSE:SHAK) opened at $43.20 on Friday. Shake Shack has a 12 month low of $30.12 and a 12 month high of $46.90. The company has a market capitalization of $1,586.69, a price-to-earnings ratio of 69.68, a PEG ratio of 3.70 and a beta of 1.43.

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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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