Zacks: Analysts Expect Shake Shack Inc (SHAK) Will Announce Earnings of $0.17 Per Share

Wall Street analysts expect that Shake Shack Inc (NYSE:SHAK) will report $0.17 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Shake Shack’s earnings, with the lowest EPS estimate coming in at $0.10 and the highest estimate coming in at $0.23. Shake Shack posted earnings per share of $0.20 in the same quarter last year, which indicates a negative year over year growth rate of 15%. The company is expected to issue its next quarterly earnings results on Thursday, August 2nd.

On average, analysts expect that Shake Shack will report full-year earnings of $0.54 per share for the current year, with EPS estimates ranging from $0.47 to $0.61. For the next fiscal year, analysts anticipate that the company will post earnings of $0.76 per share, with EPS estimates ranging from $0.59 to $1.05. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that cover Shake Shack.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, May 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.07. Shake Shack had a negative net margin of 0.27% and a positive return on equity of 9.17%. The company had revenue of $99.20 million for the quarter, compared to analysts’ expectations of $96.77 million. During the same period in the prior year, the business earned $0.10 EPS. The firm’s quarterly revenue was up 29.3% on a year-over-year basis.

Several research analysts have issued reports on SHAK shares. TheStreet cut shares of Shake Shack from a “c” rating to a “d+” rating in a report on Friday, March 16th. ValuEngine upgraded shares of Shake Shack from a “hold” rating to a “buy” rating in a report on Saturday, April 7th. Zacks Investment Research upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Thursday, April 19th. Wedbush reiterated a “hold” rating and set a $48.00 target price on shares of Shake Shack in a report on Friday, May 4th. Finally, Morgan Stanley raised their price target on shares of Shake Shack from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Friday, May 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $47.55.

Shares of Shake Shack stock opened at $65.54 on Thursday. Shake Shack has a 1 year low of $30.12 and a 1 year high of $69.96. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 114.98, a price-to-earnings-growth ratio of 5.34 and a beta of 1.35.

In related news, COO Zach Koff sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $59.00, for a total value of $177,000.00. Following the completion of the transaction, the chief operating officer now directly owns 9,809 shares of the company’s stock, valued at approximately $578,731. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan D. Sokoloff sold 627,440 shares of the stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $58.81, for a total transaction of $36,899,746.40. The disclosure for this sale can be found here. Insiders sold a total of 1,175,942 shares of company stock worth $70,191,856 over the last 90 days. Company insiders own 30.18% of the company’s stock.

Several institutional investors have recently made changes to their positions in SHAK. Schwab Charles Investment Management Inc. raised its position in shares of Shake Shack by 2.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 83,173 shares of the company’s stock valued at $3,594,000 after purchasing an additional 2,077 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Shake Shack in the 4th quarter valued at approximately $309,000. Swiss National Bank raised its position in shares of Shake Shack by 6.6% in the 4th quarter. Swiss National Bank now owns 35,400 shares of the company’s stock valued at $1,529,000 after purchasing an additional 2,200 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Shake Shack by 866.7% in the 4th quarter. Wells Fargo & Company MN now owns 241,473 shares of the company’s stock valued at $10,432,000 after purchasing an additional 216,494 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of Shake Shack by 227.9% in the 4th quarter. Arizona State Retirement System now owns 30,820 shares of the company’s stock valued at $1,331,000 after purchasing an additional 21,420 shares during the last quarter. 73.77% of the stock is owned by hedge funds and other institutional investors.

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

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