Zacks: Brokerages Anticipate Shake Shack Inc (SHAK) Will Announce Quarterly Sales of $117.16 Million

Brokerages forecast that Shake Shack Inc (NYSE:SHAK) will report sales of $117.16 million for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Shake Shack’s earnings, with the highest sales estimate coming in at $123.56 million and the lowest estimate coming in at $109.31 million. Shake Shack reported sales of $94.61 million during the same quarter last year, which indicates a positive year-over-year growth rate of 23.8%. The business is scheduled to report its next earnings results on Wednesday, November 7th.

According to Zacks, analysts expect that Shake Shack will report full year sales of $453.24 million for the current financial year, with estimates ranging from $445.16 million to $467.72 million. For the next year, analysts expect that the business will report sales of $585.64 million per share, with estimates ranging from $564.58 million to $609.48 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Shake Shack.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, August 2nd. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.11. Shake Shack had a return on equity of 10.39% and a net margin of 0.42%. The company had revenue of $116.30 million during the quarter, compared to analysts’ expectations of $110.70 million. During the same period last year, the business posted $0.20 earnings per share. The firm’s revenue was up 27.4% compared to the same quarter last year.

SHAK has been the subject of several research analyst reports. Cowen restated a “hold” rating and issued a $59.00 price objective on shares of Shake Shack in a research note on Wednesday, July 25th. Morgan Stanley raised their price objective on Shake Shack from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Friday, May 4th. Longbow Research cut Shake Shack from a “buy” rating to a “neutral” rating and set a $57.96 price objective for the company. in a research note on Wednesday, May 23rd. They noted that the move was a valuation call. Wedbush restated a “hold” rating and issued a $62.00 price objective on shares of Shake Shack in a research note on Friday, August 3rd. Finally, Zacks Investment Research cut Shake Shack from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. Shake Shack currently has a consensus rating of “Hold” and an average price target of $53.00.

Shake Shack stock opened at $57.53 on Tuesday. Shake Shack has a one year low of $30.12 and a one year high of $70.12. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 103.18, a price-to-earnings-growth ratio of 4.27 and a beta of 1.26.

In other news, CEO Randall J. Garutti sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, June 26th. The stock was sold at an average price of $67.51, for a total value of $2,025,300.00. Following the completion of the transaction, the chief executive officer now directly owns 48,041 shares in the company, valued at $3,243,247.91. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel Harris Meyer sold 95,000 shares of the firm’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $60.02, for a total value of $5,701,900.00. Following the completion of the transaction, the director now owns 642 shares of the company’s stock, valued at $38,532.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 737,696 shares of company stock valued at $46,874,070. Company insiders own 30.18% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. DSAM Partners London Ltd purchased a new position in Shake Shack during the second quarter valued at approximately $6,491,000. Principal Financial Group Inc. raised its position in Shake Shack by 5.9% during the first quarter. Principal Financial Group Inc. now owns 145,283 shares of the company’s stock valued at $6,048,000 after acquiring an additional 8,066 shares in the last quarter. Markel Corp raised its position in Shake Shack by 164.5% during the second quarter. Markel Corp now owns 29,100 shares of the company’s stock valued at $1,926,000 after acquiring an additional 18,100 shares in the last quarter. Radnor Capital Management LLC purchased a new position in Shake Shack during the second quarter valued at approximately $450,000. Finally, Boston Advisors LLC purchased a new position in Shake Shack during the second quarter valued at approximately $1,087,000. Institutional investors own 87.48% of the company’s stock.

About Shake Shack

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 December 27, 2017, it had 159 Shacks, including 90 domestic company-operated Shacks, 10 domestic licensed Shacks, and 59 international licensed Shacks.

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