Zacks: Brokerages Anticipate Shake Shack Inc. (NYSE:SHAK) Will Post Quarterly Sales of $200.94 Million

Brokerages expect Shake Shack Inc. (NYSE:SHAK – Get Rating) to post sales of $200.94 million for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have issued estimates for Shake Shack’s earnings. The lowest sales estimate is $198.80 million and the highest is $203.17 million. Shake Shack reported sales of $155.28 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 29.4%. The firm is scheduled to announce its next earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Shake Shack will report full-year sales of $955.48 million for the current year, with estimates ranging from $931.17 million to $993.31 million. For the next year, analysts expect that the company will post sales of $1.20 billion, with estimates ranging from $1.16 billion to $1.31 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Shake Shack.

Shake Shack (NYSE:SHAK – Get Rating) last released its earnings results on Thursday, February 17th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.06. Shake Shack had a negative return on equity of 0.60% and a negative net margin of 1.17%. The business had revenue of $203.26 million during the quarter, compared to analysts’ expectations of $203.06 million. During the same quarter last year, the firm posted ($0.03) earnings per share.

SHAK has been the subject of a number of research reports. Robert W. Baird reduced their price target on shares of Shake Shack from $88.00 to $83.00 in a report on Wednesday, January 12th. Barclays reduced their target price on Shake Shack from $77.00 to $69.00 and set an “equal weight” rating for the company in a research note on Friday, February 18th. Deutsche Bank Aktiengesellschaft cut their price target on Shake Shack from $93.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, February 18th. StockNews.com began coverage on Shake Shack in a report on Thursday, March 31st. They set a “sell” rating for the company. Finally, Morgan Stanley lowered their target price on Shake Shack from $81.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $85.59.

Large investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. lifted its stake in Shake Shack by 2.5% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 40,477 shares of the company’s stock worth $3,176,000 after purchasing an additional 974 shares in the last quarter. Cetera Advisor Networks LLC raised its position in shares of Shake Shack by 22.3% in the third quarter. Cetera Advisor Networks LLC now owns 4,171 shares of the company’s stock worth $327,000 after buying an additional 760 shares in the last quarter. Segall Bryant & Hamill LLC boosted its stake in Shake Shack by 2.6% during the third quarter. Segall Bryant & Hamill LLC now owns 62,589 shares of the company’s stock valued at $4,911,000 after buying an additional 1,610 shares during the period. Citigroup Inc. boosted its stake in Shake Shack by 134.7% during the third quarter. Citigroup Inc. now owns 84,408 shares of the company’s stock valued at $6,623,000 after buying an additional 48,439 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its position in Shake Shack by 2.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 15,118 shares of the company’s stock worth $1,091,000 after buying an additional 431 shares in the last quarter. 81.03% of the stock is owned by institutional investors.

NYSE:SHAK opened at $58.60 on Wednesday. The company has a fifty day moving average of $65.63 and a 200-day moving average of $70.53. The firm has a market capitalization of $2.47 billion, a P/E ratio of -234.40 and a beta of 1.45. The company has a quick ratio of 3.34, a current ratio of 3.37 and a debt-to-equity ratio of 0.56. Shake Shack has a twelve month low of $57.58 and a twelve month high of $111.49.

Shake Shack Company Profile (Get Rating)

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 29, 2021, it operated 369 Shacks, including 218 domestic company-operated Shacks, 25 domestic licensed Shacks, and 126 international licensed Shacks.

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