Shake Shack (SHAK) Announces Quarterly Earnings Results

Shake Shack (NYSE:SHAK) posted its quarterly earnings data on Thursday. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.11, Bloomberg Earnings reports. The business had revenue of $116.30 million for the quarter, compared to analysts’ expectations of $110.70 million. Shake Shack had a positive return on equity of 9.17% and a negative net margin of 0.27%. The business’s revenue was up 27.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 EPS.

Shares of Shake Shack traded up $1.73, hitting $63.94, during trading hours on Thursday, Marketbeat Ratings reports. 2,260,300 shares of the company’s stock traded hands, compared to its average volume of 945,691. Shake Shack has a 12-month low of $30.12 and a 12-month high of $70.12. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 109.95, a PEG ratio of 5.16 and a beta of 1.26.

Several research firms have weighed in on SHAK. Zacks Investment Research raised Shake Shack from a “sell” rating to a “hold” rating in a research report on Tuesday, July 17th. Cowen reaffirmed a “hold” rating and set a $59.00 price objective on shares of Shake Shack in a research report on Wednesday, July 25th. Morgan Stanley lifted their price objective on Shake Shack from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, July 16th. Longbow Research cut Shake Shack from a “buy” rating to a “neutral” rating and set a $57.96 price objective on the stock. in a research report on Wednesday, May 23rd. They noted that the move was a valuation call. Finally, William Blair reaffirmed a “buy” rating on shares of Shake Shack in a research report on Friday, May 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $49.88.

In other news, Director Daniel Harris Meyer sold 45,000 shares of Shake Shack stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $55.76, for a total transaction of $2,509,200.00. Following the completion of the transaction, the director now directly owns 642 shares in the company, valued at $35,797.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Equity Group L.P. Select sold 74,999 shares of Shake Shack stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $68.42, for a total transaction of $5,131,431.58. The disclosure for this sale can be found here. Insiders have sold 1,369,586 shares of company stock valued at $83,638,501 over the last quarter. Company insiders own 30.18% of the company’s stock.

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 27, 2017, it had 159 Shacks, including 90 domestic company-operated Shacks, 10 domestic licensed Shacks, and 59 international licensed Shacks.

Further Reading: Understanding Average Daily Trade Volume

Earnings History for Shake Shack (NYSE:SHAK)

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