Shake Shack (NYSE:SHAK) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Shake Shack (NYSE:SHAK) posted its quarterly earnings results on Thursday. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03, Briefing.com reports. The firm had revenue of $290.50 million for the quarter, compared to the consensus estimate of $291.00 million. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.01) earnings per share.

Shake Shack Price Performance

Shares of SHAK stock traded up $2.53 during trading hours on Friday, reaching $107.47. 998,288 shares of the company were exchanged, compared to its average volume of 746,591. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.03 and a quick ratio of 2.01. The stock’s fifty day moving average is $102.37 and its two-hundred day moving average is $80.42. Shake Shack has a fifty-two week low of $52.79 and a fifty-two week high of $110.90. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 195.40, a P/E/G ratio of 3.71 and a beta of 1.78.

Insiders Place Their Bets

In other news, Director Daniel Harris Meyer sold 23,966 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $100.13, for a total transaction of $2,399,715.58. Following the transaction, the director now owns 526,471 shares of the company’s stock, valued at $52,715,541.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Shake Shack news, Director Daniel Harris Meyer sold 23,966 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $100.13, for a total transaction of $2,399,715.58. Following the transaction, the director now owns 526,471 shares in the company, valued at $52,715,541.23. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $108.05, for a total transaction of $32,847.20. Following the transaction, the director now directly owns 4,058 shares in the company, valued at approximately $438,466.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,760 shares of company stock valued at $10,190,420. 10.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Truist Financial raised their price objective on shares of Shake Shack from $115.00 to $124.00 and gave the stock a “buy” rating in a report on Friday. UBS Group raised their price target on shares of Shake Shack from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday. Wedbush lifted their price objective on Shake Shack from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Friday. Barclays increased their target price on Shake Shack from $92.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Morgan Stanley boosted their price target on Shake Shack from $88.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $96.33.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.