Shake Shack Inc (SHAK) Expected to Post Quarterly Sales of $127.62 Million

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Wall Street analysts forecast that Shake Shack Inc (NYSE:SHAK) will report sales of $127.62 million for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Shake Shack’s earnings. The lowest sales estimate is $126.00 million and the highest is $129.74 million. Shake Shack reported sales of $99.12 million during the same quarter last year, which indicates a positive year-over-year growth rate of 28.8%. The firm is expected to report its next earnings results on Thursday, May 2nd.

On average, analysts expect that Shake Shack will report full-year sales of $578.61 million for the current fiscal year, with estimates ranging from $568.50 million to $587.75 million. For the next financial year, analysts forecast that the firm will post sales of $719.93 million, with estimates ranging from $693.80 million to $747.74 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Shake Shack.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Monday, February 25th. The company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.03. Shake Shack had a net margin of 3.30% and a return on equity of 9.57%. The business had revenue of $124.30 million for the quarter, compared to analyst estimates of $119.08 million. During the same quarter in the prior year, the business earned $0.10 EPS. Shake Shack’s quarterly revenue was up 29.3% on a year-over-year basis.

SHAK has been the topic of a number of research reports. Jefferies Financial Group upgraded shares of Shake Shack from an “underperform” rating to a “hold” rating and set a $45.08 price target on the stock in a research note on Wednesday, December 19th. They noted that the move was a valuation call. Stifel Nicolaus decreased their price target on shares of Shake Shack from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, December 12th. Wedbush decreased their price target on shares of Shake Shack from $56.00 to $54.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 26th. Finally, Zacks Investment Research lowered shares of Shake Shack from a “hold” rating to a “sell” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $54.21.

SHAK traded up $1.66 on Thursday, reaching $54.77. The company had a trading volume of 826,723 shares, compared to its average volume of 696,966. Shake Shack has a fifty-two week low of $39.77 and a fifty-two week high of $70.12. The firm has a market cap of $1.97 billion, a P/E ratio of 77.14, a price-to-earnings-growth ratio of 3.80 and a beta of 1.44.

In other Shake Shack news, COO Zach Koff sold 10,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $54.25, for a total transaction of $542,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Randall J. Garutti sold 25,000 shares of the stock in a transaction that occurred on Wednesday, December 26th. The stock was sold at an average price of $42.23, for a total transaction of $1,055,750.00. Following the transaction, the chief executive officer now owns 43,041 shares in the company, valued at approximately $1,817,621.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 455,606 shares of company stock worth $23,871,286. Company insiders own 30.18% of the company’s stock.

Large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Shake Shack by 27.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,799 shares of the company’s stock worth $82,000 after acquiring an additional 390 shares in the last quarter. Advisors Asset Management Inc. boosted 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 worth $212,000 after acquiring an additional 1,077 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of Shake Shack during the 3rd quarter worth approximately $235,000. LS Investment Advisors LLC boosted its position in shares of Shake Shack by 155.3% during the 4th quarter. LS Investment Advisors LLC now owns 4,176 shares of the company’s stock worth $190,000 after acquiring an additional 2,540 shares in the last quarter. Finally, Riverhead Capital Management LLC boosted its position in shares of Shake Shack by 37.1% during the 3rd quarter. Riverhead Capital Management LLC now owns 4,435 shares of the company’s stock worth $280,000 after acquiring an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 83.39% 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 October 9, 2018, it operated 180 locations in 26 U.S.

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