Analysts expect Shake Shack Inc. (NYSE:SHAK) to report $161.06 million in sales for the current quarter, Zacks Investment Research reports. Twelve analysts have provided estimates for Shake Shack's earnings, with the highest sales estimate coming in at $173.30 million and the lowest estimate coming in at $152.10 million. Shake Shack posted sales of $143.17 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.5%. The company is expected to report its next quarterly earnings results on Monday, May 3rd.
On average, analysts expect that Shake Shack will report full year sales of $737.50 million for the current year, with estimates ranging from $673.40 million to $773.19 million. For the next financial year, analysts anticipate that the company will report sales of $950.57 million, with estimates ranging from $907.20 million to $1.04 billion. Zacks' sales averages are a mean average based on a survey of sell-side analysts that follow Shake Shack.
Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Thursday, February 25th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.08. Shake Shack had a negative return on equity of 5.11% and a negative net margin of 4.80%.
Several research analysts have commented on the stock. Truist boosted their price objective on shares of Shake Shack from $99.00 to $105.00 in a research report on Thursday, March 18th. JPMorgan Chase & Co. increased their price objective on Shake Shack from $62.00 to $70.00 and gave the company an "underweight" rating in a report on Monday, January 25th. Raymond James reaffirmed a "sell" rating on shares of Shake Shack in a research report on Tuesday, March 30th. The Goldman Sachs Group assumed coverage on shares of Shake Shack in a research report on Tuesday, January 19th. They set a "neutral" rating and a $107.00 price target on the stock. Finally, Piper Sandler increased their price objective on shares of Shake Shack from $122.00 to $135.00 and gave the stock an "overweight" rating in a research report on Thursday, March 4th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of "Hold" and an average target price of $91.50.
In other news, Director Daniel Harris Meyer sold 110,000 shares of the company's stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of $116.53, for a total value of $12,818,300.00. Following the completion of the sale, the director now owns 985 shares of the company's stock, valued at approximately $114,782.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Randall J. Garutti sold 145,000 shares of the business's stock in a transaction that occurred on Friday, January 15th. The stock was sold at an average price of $111.39, for a total transaction of $16,151,550.00. Following the transaction, the chief executive officer now owns 196,891 shares of the company's stock, valued at approximately $21,931,688.49. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 369,380 shares of company stock valued at $41,678,450. 14.98% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in shares of Shake Shack by 9.9% in the 4th quarter. BlackRock Inc. now owns 5,563,174 shares of the company's stock valued at $471,646,000 after acquiring an additional 500,504 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its position in shares of Shake Shack by 5.3% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,631,801 shares of the company's stock valued at $138,343,000 after buying an additional 81,613 shares during the last quarter. Morgan Stanley increased its position in Shake Shack by 15.6% during the fourth quarter. Morgan Stanley now owns 517,401 shares of the company's stock worth $43,864,000 after purchasing an additional 69,977 shares during the last quarter. Norges Bank acquired a new stake in shares of Shake Shack during the fourth quarter valued at about $29,946,000. Finally, Nuveen Asset Management LLC increased its position in shares of Shake Shack by 7.8% during the fourth quarter. Nuveen Asset Management LLC now owns 312,850 shares of the company's stock valued at $26,523,000 after acquiring an additional 22,602 shares during the last quarter. Institutional investors and hedge funds own 89.61% of the company's stock.
SHAK stock opened at $115.74 on Thursday. The company's 50-day simple moving average is $118.21 and its 200 day simple moving average is $94.46. Shake Shack has a 52 week low of $38.69 and a 52 week high of $138.38. The company has a market capitalization of $4.86 billion, a PE ratio of -172.74, a price-to-earnings-growth ratio of 35.53 and a beta of 1.78.
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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