Zacks: Brokerages Expect Shake Shack Inc (NYSE:SHAK) to Announce -$0.40 Earnings Per Share

Wall Street analysts forecast that Shake Shack Inc (NYSE:SHAK) will announce earnings per share of ($0.40) for the current quarter, according to Zacks Investment Research. Eleven analysts have made estimates for Shake Shack’s earnings, with the highest EPS estimate coming in at ($0.28) and the lowest estimate coming in at ($0.56). Shake Shack posted earnings per share of $0.26 during the same quarter last year, which indicates a negative year over year growth rate of 253.8%. The business is expected to announce its next quarterly earnings results on Monday, November 2nd.

On average, analysts expect that Shake Shack will report full year earnings of ($0.77) per share for the current financial year, with EPS estimates ranging from ($0.93) to ($0.28). For the next fiscal year, analysts expect that the company will report earnings of $0.12 per share, with EPS estimates ranging from ($0.27) to $0.43. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Shake Shack.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.08). Shake Shack had a negative net margin of 1.64% and a negative return on equity of 1.40%. The company had revenue of $91.79 million for the quarter, compared to analyst estimates of $93.29 million.

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Shake Shack from $47.00 to $51.00 and gave the company an “underweight” rating in a research note on Wednesday, June 24th. Wedbush upgraded shares of Shake Shack from a “neutral” rating to an “outperform” rating and upped their price target for the company from $53.00 to $77.00 in a research note on Thursday, August 20th. Piper Sandler upped their price target on shares of Shake Shack from $60.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 14th. Zacks Investment Research lowered shares of Shake Shack from a “hold” rating to a “sell” rating in a research note on Tuesday, August 4th. Finally, Credit Suisse Group increased their price objective on shares of Shake Shack from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $57.94.

Shake Shack stock traded up $0.39 during mid-day trading on Friday, reaching $64.87. 1,084,054 shares of the company traded hands, compared to its average volume of 1,844,519. Shake Shack has a fifty-two week low of $30.01 and a fifty-two week high of $95.79. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of -308.90 and a beta of 1.72. The firm’s fifty day moving average is $63.61 and its two-hundred day moving average is $52.61.

In related news, Director Daniel Harris Meyer sold 23,334 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $55.03, for a total transaction of $1,284,070.02. Following the sale, the director now directly owns 1,364 shares of the company’s stock, valued at $75,060.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Tara Comonte sold 2,985 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $70.02, for a total transaction of $209,009.70. Following the transaction, the chief financial officer now directly owns 54,046 shares in the company, valued at $3,784,300.92. The disclosure for this sale can be found here. Insiders have sold 161,942 shares of company stock worth $10,357,726 over the last three months. 14.98% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of SHAK. New York State Common Retirement Fund lifted its holdings in Shake Shack by 40.5% during the first quarter. New York State Common Retirement Fund now owns 36,670 shares of the company’s stock valued at $1,384,000 after purchasing an additional 10,570 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Shake Shack by 9.1% in the first quarter. Bank of New York Mellon Corp now owns 351,460 shares of the company’s stock worth $13,263,000 after buying an additional 29,458 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Shake Shack by 165.9% in the first quarter. Russell Investments Group Ltd. now owns 2,231 shares of the company’s stock worth $84,000 after buying an additional 1,392 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Shake Shack by 94.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,260 shares of the company’s stock worth $123,000 after buying an additional 1,586 shares in the last quarter. Finally, Mackay Shields LLC purchased a new position in shares of Shake Shack in the first quarter worth about $381,000. 92.25% of the stock is currently owned by institutional investors and hedge funds.

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 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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Earnings History and Estimates for Shake Shack (NYSE:SHAK)

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