Shake Shack Inc (NYSE:SHAK) Expected to Announce Quarterly Sales of $147.54 Million

Analysts forecast that Shake Shack Inc (NYSE:SHAK) will report sales of $147.54 million for the current quarter, according to Zacks. Seven analysts have provided estimates for Shake Shack’s earnings, with estimates ranging from $144.50 million to $151.42 million. Shake Shack posted sales of $116.28 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 26.9%. The business is scheduled to issue its next earnings results on Thursday, August 1st.

According to Zacks, analysts expect that Shake Shack will report full-year sales of $584.80 million for the current fiscal year, with estimates ranging from $579.60 million to $596.70 million. For the next financial year, analysts expect that the business will report sales of $730.88 million, with estimates ranging from $709.10 million to $756.43 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Shake Shack.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $132.60 million during the quarter, compared to analysts’ expectations of $127.23 million. Shake Shack had a return on equity of 9.64% and a net margin of 2.88%. The company’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 EPS.

Several equities analysts have commented on the company. Credit Suisse Group assumed coverage on Shake Shack in a report on Tuesday. They issued an “outperform” rating and a $77.00 price target for the company. SunTrust Banks upped their price target on Shake Shack to $70.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Zacks Investment Research cut Shake Shack from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Stifel Nicolaus upped their price target on Shake Shack from $45.00 to $50.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, Morgan Stanley upped their price target on Shake Shack from $52.00 to $56.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $57.89.

In related news, Director Jonathan D. Sokoloff sold 250,000 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $58.36, for a total transaction of $14,590,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel Harris Meyer sold 1,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $60.11, for a total value of $60,110.00. Following the sale, the director now owns 1,032 shares in the company, valued at $62,033.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,089,923 shares of company stock worth $65,383,148. Corporate insiders own 21.85% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC acquired a new stake in shares of Shake Shack in the fourth quarter valued at approximately $2,613,000. Geode Capital Management LLC raised its stake in shares of Shake Shack by 9.0% in the fourth quarter. Geode Capital Management LLC now owns 262,094 shares of the company’s stock valued at $11,904,000 after acquiring an additional 21,649 shares during the period. Blueshift Asset Management LLC purchased a new stake in shares of Shake Shack in the fourth quarter valued at $1,439,000. Sapphire Star Partners LP raised its stake in shares of Shake Shack by 2.8% in the fourth quarter. Sapphire Star Partners LP now owns 9,212 shares of the company’s stock valued at $419,000 after acquiring an additional 253 shares during the period. Finally, Wasatch Advisors Inc. raised its stake in shares of Shake Shack by 1.8% in the first quarter. Wasatch Advisors Inc. now owns 763,267 shares of the company’s stock valued at $45,147,000 after acquiring an additional 13,797 shares during the period. Institutional investors and hedge funds own 84.37% of the company’s stock.

Shake Shack stock opened at $72.20 on Friday. The firm has a 50 day moving average price of $62.93. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.15 and a current ratio of 1.17. The firm has a market cap of $2.49 billion, a PE ratio of 101.69, a price-to-earnings-growth ratio of 5.15 and a beta of 1.33. Shake Shack has a 12 month low of $40.67 and a 12 month high of $72.40.

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 26, 2018, it operated 208 Shacks, including 124 domestic company-operated Shacks, 12 domestic licensed Shacks, and 72 international licensed Shacks.

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