Shake Shack Inc (NYSE:SHAK) – Jefferies Financial Group lifted their FY2018 earnings per share estimates for shares of Shake Shack in a research report issued to clients and investors on Thursday, November 1st. Jefferies Financial Group analyst A. Barish now forecasts that the company will post earnings of $0.70 per share for the year, up from their prior estimate of $0.60. Jefferies Financial Group also issued estimates for Shake Shack’s Q1 2019 earnings at $0.16 EPS, Q2 2019 earnings at $0.29 EPS, Q3 2019 earnings at $0.23 EPS and FY2020 earnings at $0.90 EPS.
Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, November 1st. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.08. The firm had revenue of $119.65 million during the quarter, compared to analyst estimates of $116.81 million. Shake Shack had a net margin of 0.40% and a return on equity of 11.02%. The business’s quarterly revenue was up 26.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 EPS.
Several other equities analysts have also weighed in on SHAK. ValuEngine lowered shares of Shake Shack from a “strong-buy” rating to a “buy” rating in a report on Friday. Wedbush cut their target price on shares of Shake Shack from $62.00 to $56.00 and set a “neutral” rating for the company in a report on Friday. Zacks Investment Research lowered shares of Shake Shack from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Barclays cut their target price on shares of Shake Shack from $59.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday. Finally, SunTrust Banks cut their target price on shares of Shake Shack to $60.00 and set a “buy” rating for the company in a report on Friday. Two analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $53.90.
NYSE:SHAK opened at $47.45 on Monday. The company has a market cap of $1.75 billion, a PE ratio of 83.19, a PEG ratio of 3.27 and a beta of 1.36. Shake Shack has a 1-year low of $35.96 and a 1-year high of $70.12.
In related news, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $60.24, for a total value of $602,400.00. Following the completion of the sale, the director now owns 1,032 shares of the company’s stock, valued at approximately $62,167.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Equity Group L.P. Select sold 57,404 shares of the business’s stock in a transaction on Tuesday, October 23rd. The stock was sold at an average price of $53.56, for a total transaction of $3,074,558.24. The disclosure for this sale can be found here. In the last three months, insiders sold 1,284,560 shares of company stock valued at $74,700,300. 30.18% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Shake Shack by 15.2% in the 2nd quarter. BlackRock Inc. now owns 2,914,696 shares of the company’s stock worth $192,895,000 after acquiring an additional 384,867 shares in the last quarter. DSAM Partners London Ltd acquired a new stake in Shake Shack during the 2nd quarter worth $6,491,000. CIBC World Markets Inc. acquired a new stake in Shake Shack during the 2nd quarter worth $1,048,000. Rehmann Capital Advisory Group acquired a new stake in Shake Shack during the 2nd quarter worth $124,000. Finally, Alps Advisors Inc. acquired a new stake in Shake Shack during the 2nd quarter worth $649,000. 87.50% of the stock is owned by 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 October 9, 2018, it operated 180 locations in 26 U.S.
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