Shake Shack Inc (SHAK) Expected to Post Quarterly Sales of $120.21 Million

Brokerages expect that Shake Shack Inc (NYSE:SHAK) will post sales of $120.21 million for the current quarter, according to Zacks. Seven analysts have issued estimates for Shake Shack’s earnings. The highest sales estimate is $130.00 million and the lowest is $115.85 million. Shake Shack reported sales of $96.14 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 25%. The company is expected to announce its next earnings results on Thursday, February 21st.

On average, analysts expect that Shake Shack will report full-year sales of $454.79 million for the current financial year, with estimates ranging from $450.90 million to $465.00 million. For the next year, analysts forecast that the business will report sales of $577.83 million, with estimates ranging from $571.26 million to $584.81 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Shake Shack.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, November 1st. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. Shake Shack had a return on equity of 10.64% and a net margin of 0.40%. The company had revenue of $119.65 million during the quarter, compared to analyst estimates of $116.81 million. During the same period in the prior year, the company earned $0.17 earnings per share. The firm’s revenue was up 26.5% on a year-over-year basis.

A number of equities research analysts have issued reports on SHAK shares. ValuEngine downgraded Shake Shack from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 2nd. SunTrust Banks decreased their price objective on Shake Shack to $60.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Zacks Investment Research upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Wednesday, November 7th. Longbow Research upgraded Shake Shack from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Tuesday, November 6th. Finally, Barclays decreased their price objective on Shake Shack from $59.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $54.50.

SHAK stock traded down $1.54 during midday trading on Wednesday, reaching $47.93. 614,860 shares of the company traded hands, compared to its average volume of 700,886. Shake Shack has a 52-week low of $36.58 and a 52-week high of $70.12. The company has a market cap of $1.83 billion, a PE ratio of 84.09, a price-to-earnings-growth ratio of 3.20 and a beta of 1.37.

In other news, major shareholder Equity Group L.P. Select sold 6,222 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $62.14, for a total transaction of $386,635.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $60.24, for a total transaction of $602,400.00. Following the sale, the director now directly owns 1,032 shares in the company, valued at approximately $62,167.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 826,669 shares of company stock worth $46,639,889. Company insiders own 30.18% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in SHAK. Rehmann Capital Advisory Group purchased a new stake in shares of Shake Shack during the 2nd quarter valued at approximately $124,000. Advisors Asset Management Inc. raised its position in shares of Shake Shack by 50.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 3,202 shares of the company’s stock valued at $212,000 after buying an additional 1,077 shares during the period. United Services Automobile Association purchased a new stake in shares of Shake Shack during the 3rd quarter valued at approximately $235,000. HM Payson & Co. purchased a new stake in shares of Shake Shack during the 2nd quarter valued at approximately $249,000. Finally, Pinebridge Investments L.P. purchased a new stake in shares of Shake Shack during the 2nd quarter valued at approximately $250,000. 82.35% of the stock is currently owned by hedge funds and other institutional investors.

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 and Estimates for Shake Shack (NYSE:SHAK)

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