Shake Shack (SHAK) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Shake Shack (NYSE:SHAK) issued its quarterly earnings data on Thursday. The company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.08, Briefing.com reports. The company had revenue of $119.65 million for the quarter, compared to analyst estimates of $116.81 million. Shake Shack had a net margin of 0.42% and a return on equity of 10.39%. The company’s revenue was up 26.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 earnings per share. Shake Shack updated its FY 2018 guidance to EPS.

NYSE:SHAK traded down $7.61 during mid-day trading on Friday, reaching $47.19. 4,094,218 shares of the company’s stock were exchanged, compared to its average volume of 658,642. Shake Shack has a one year low of $35.56 and a one year high of $70.12. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 82.79, a P/E/G ratio of 3.85 and a beta of 1.36.

In related news, major shareholder Equity Group L.P. Select sold 57,404 shares of the firm’s stock in a transaction dated Tuesday, October 23rd. The shares were sold at an average price of $53.56, for a total transaction of $3,074,558.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Daniel Harris Meyer sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $62.08, for a total transaction of $620,800.00. Following the transaction, the director now directly owns 1,032 shares in the company, valued at $64,066.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,284,560 shares of company stock worth $74,700,300. 30.18% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in SHAK. Dimensional Fund Advisors LP increased its position in Shake Shack by 12.7% during the first quarter. Dimensional Fund Advisors LP now owns 115,486 shares of the company’s stock worth $4,808,000 after acquiring an additional 13,000 shares during the period. Principal Financial Group Inc. increased its holdings in Shake Shack by 5.9% in the 1st quarter. Principal Financial Group Inc. now owns 145,283 shares of the company’s stock valued at $6,048,000 after buying an additional 8,066 shares during the period. Legal & General Group Plc increased its holdings in Shake Shack by 4.6% in the 1st quarter. Legal & General Group Plc now owns 35,930 shares of the company’s stock valued at $1,485,000 after buying an additional 1,589 shares during the period. Radnor Capital Management LLC bought a new position in Shake Shack in the 2nd quarter valued at about $450,000. Finally, Xact Kapitalforvaltning AB bought a new position in Shake Shack in the 2nd quarter valued at about $265,000. 87.50% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on SHAK. ValuEngine lowered shares of Shake Shack from a “strong-buy” rating to a “buy” rating in a research report on Friday. Wedbush dropped their price objective on shares of Shake Shack from $62.00 to $56.00 and set a “neutral” rating on the stock in a research report on Friday. Barclays dropped their price objective on shares of Shake Shack from $59.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Friday. Zacks Investment Research lowered shares of Shake Shack from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 23rd. Finally, SunTrust Banks dropped their price objective on shares of Shake Shack to $60.00 and set a “buy” rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $53.90.

Shake Shack Company Profile

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of October 9, 2018, it operated 180 locations in 26 U.S.

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Earnings History for Shake Shack (NYSE:SHAK)

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