Shake Shack, Inc. (SHAK) Expected to Announce Quarterly Sales of $97.68 Million
Equities analysts forecast that Shake Shack, Inc. (NYSE:SHAK) will post sales of $97.68 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Shake Shack’s earnings, with the lowest sales estimate coming in at $93.60 million and the highest estimate coming in at $100.81 million. Shake Shack posted sales of $74.57 million during the same quarter last year, which would indicate a positive year over year growth rate of 31%. The firm is scheduled to issue its next earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Shake Shack will report full-year sales of $97.68 million for the current year, with estimates ranging from $350.50 million to $363.20 million. For the next financial year, analysts forecast that the business will report sales of $452.88 million per share, with estimates ranging from $414.41 million to $462.30 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Shake Shack.
Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.04. Shake Shack had a net margin of 4.70% and a return on equity of 8.92%. The company had revenue of $91.30 million for the quarter, compared to analysts’ expectations of $89 million. During the same period in the prior year, the business earned $0.14 earnings per share. Shake Shack’s revenue for the quarter was up 37.3% compared to the same quarter last year.
Several analysts have recently issued reports on SHAK shares. Zacks Investment Research raised Shake Shack from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Wedbush reaffirmed a “hold” rating and issued a $33.00 price objective on shares of Shake Shack in a research report on Friday, May 5th. Buckingham Research raised Shake Shack from a “neutral” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Friday, May 5th. They noted that the move was a valuation call. Cowen and Company cut their price objective on 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. Finally, Barclays PLC lowered their target price on Shake Shack from $38.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, May 8th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $37.60.
In other Shake Shack news, Director Jeffrey Flug sold 3,321 shares of Shake Shack stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $37.45, for a total transaction of $124,371.45. Following the completion of the sale, the director now directly owns 6,645 shares of the company’s stock, valued at approximately $248,855.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Equity Group L.P. Select sold 51,971 shares of Shake Shack stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $37.71, for a total value of $1,959,826.41. The disclosure for this sale can be found here. Insiders sold 381,011 shares of company stock valued at $14,110,511 over the last ninety days. Insiders own 34.91% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new stake in Shake Shack during the fourth quarter valued at $230,000. RPG Investment Advisory LLC increased its stake in Shake Shack by 12.3% in the first quarter. RPG Investment Advisory LLC now owns 12,813 shares of the company’s stock valued at $427,000 after buying an additional 1,400 shares in the last quarter. Arizona State Retirement System bought a new stake in Shake Shack during the first quarter valued at approximately $311,000. Thrivent Financial For Lutherans bought a new stake in Shake Shack during the first quarter valued at approximately $333,000. Finally, Point72 Asset Management L.P. increased its stake in Shake Shack by 520.9% in the first quarter. Point72 Asset Management L.P. now owns 396,100 shares of the company’s stock valued at $13,230,000 after buying an additional 332,301 shares in the last quarter. 97.46% of the stock is owned by institutional investors.
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Shake Shack (NYSE:SHAK) opened at 31.35 on Friday. The firm’s 50-day moving average is $35.48 and its 200-day moving average is $35.01. Shake Shack has a 12 month low of $30.36 and a 12 month high of $42.94. The company has a market capitalization of $807.48 million, a PE ratio of 58.27 and a beta of 1.29.
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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