Shake Shack (NYSE:SHAK) Releases Earnings Results, Beats Estimates By $0.04 EPS

Shake Shack (NYSE:SHAKGet Rating) issued its earnings results on Thursday. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04, MarketWatch Earnings reports. The firm had revenue of $203.39 million during the quarter, compared to the consensus estimate of $200.64 million. Shake Shack had a negative net margin of 1.17% and a negative return on equity of 0.60%. The company’s revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 earnings per share.

NYSE SHAK traded down $1.35 during trading hours on Friday, hitting $54.70. 1,369,236 shares of the stock were exchanged, compared to its average volume of 771,384. Shake Shack has a 12-month low of $52.73 and a 12-month high of $111.49. The stock has a 50-day moving average of $64.71 and a 200 day moving average of $70.21. The company has a current ratio of 3.37, a quick ratio of 3.34 and a debt-to-equity ratio of 0.56.

A number of equities analysts recently commented on the stock. Wedbush lowered their target price on shares of Shake Shack from $83.00 to $75.00 in a research note on Friday. MKM Partners lowered their target price on shares of Shake Shack from $81.00 to $75.00 in a research note on Friday, February 18th. Barclays lowered their target price on shares of 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. BTIG Research decreased their price objective on shares of Shake Shack from $85.00 to $70.00 in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Shake Shack from $82.00 to $68.00 in a research note on Friday. Two 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $80.71.

A number of institutional investors and hedge funds have recently modified their holdings of SHAK. Morgan Stanley grew its position in Shake Shack by 27.0% during the second quarter. Morgan Stanley now owns 404,683 shares of the company’s stock worth $43,309,000 after buying an additional 86,150 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Shake Shack in the third quarter valued at approximately $288,000. Legal & General Group Plc grew its position in shares of Shake Shack by 3.3% in the fourth quarter. Legal & General Group Plc now owns 112,990 shares of the company’s stock valued at $8,154,000 after purchasing an additional 3,566 shares during the last quarter. Stifel Financial Corp grew its position in shares of Shake Shack by 1,754.1% in the fourth quarter. Stifel Financial Corp now owns 50,746 shares of the company’s stock valued at $3,662,000 after purchasing an additional 48,009 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of Shake Shack by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 31,853 shares of the company’s stock valued at $2,299,000 after purchasing an additional 219 shares during the last quarter. Institutional investors own 81.03% of the company’s stock.

About Shake Shack (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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Earnings History for Shake Shack (NYSE:SHAK)

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