Wall Street brokerages predict that Shake Shack Inc (NYSE:SHAK) will post $97.29 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Shake Shack’s earnings. The lowest sales estimate is $92.89 million and the highest is $100.31 million. Shake Shack reported sales of $76.75 million during the same quarter last year, which indicates a positive year over year growth rate of 26.8%. The business is expected to issue its next quarterly earnings report on Thursday, May 3rd.
On average, analysts expect that Shake Shack will report full year sales of $97.29 million for the current year, with estimates ranging from $444.34 million to $455.37 million. For the next fiscal year, analysts forecast that the firm will post sales of $583.86 million per share, with estimates ranging from $560.77 million to $610.00 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Shake Shack.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The company had revenue of $96.14 million for the quarter, compared to analysts’ expectations of $92.80 million. Shake Shack had a negative net margin of 0.63% and a positive return on equity of 9.47%. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share.
In related news, Director Daniel Harris Meyer sold 100,000 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $45.93, for a total value of $4,593,000.00. Following the sale, the director now directly owns 642 shares of the company’s stock, valued at approximately $29,487.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Randall J. Garutti sold 40,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $38.15, for a total transaction of $1,526,000.00. The disclosure for this sale can be found here. Insiders sold a total of 726,840 shares of company stock worth $31,287,298 over the last ninety days. 34.91% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in Shake Shack by 3.3% in the 4th quarter. BlackRock Inc. now owns 2,429,663 shares of the company’s stock valued at $104,963,000 after acquiring an additional 77,844 shares in the last quarter. OppenheimerFunds Inc. lifted its position in Shake Shack by 39.1% during the 4th quarter. OppenheimerFunds Inc. now owns 1,005,241 shares of the company’s stock worth $43,427,000 after buying an additional 282,404 shares in the last quarter. Sylebra HK Co Ltd lifted its position in Shake Shack by 2.6% during the 3rd quarter. Sylebra HK Co Ltd now owns 1,001,849 shares of the company’s stock worth $33,291,000 after buying an additional 25,546 shares in the last quarter. State Street Corp lifted its position in Shake Shack by 22.9% during the 2nd quarter. State Street Corp now owns 436,498 shares of the company’s stock worth $15,224,000 after buying an additional 81,392 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Shake Shack by 34.2% during the 2nd quarter. Northern Trust Corp now owns 265,548 shares of the company’s stock worth $9,262,000 after buying an additional 67,717 shares in the last quarter. 82.11% of the stock is currently owned by institutional investors and hedge funds.
Shares of Shake Shack (NYSE SHAK) traded down $0.31 during midday trading on Thursday, hitting $42.17. 444,277 shares of the stock were exchanged, compared to its average volume of 1,180,000. The company has a market capitalization of $1,550.00, a PE ratio of 89.72, a price-to-earnings-growth ratio of 4.12 and a beta of 1.41. Shake Shack has a 52 week low of $30.12 and a 52 week high of $47.39.
About Shake Shack
Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Shake Shack Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shake Shack and related companies with MarketBeat.com's FREE daily email newsletter.