Shake Shack Inc (SHAK) reported quarterly earnings results on Wednesday, Aug-10-2016. The company said it had a profit of $0.14 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.13. The company posted revenue of $66.50 million in the period, compared to analysts expectations of $63.14 million. The company’s revenue was up 37.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS.
Many Wall Street Analysts have commented on Shake Shack Inc. Wedbush Initiated Shake Shack Inc on Jul 7, 2016 to “Underperform”, Price Target of the shares are set at $30.Buckingham Research Initiated Shake Shack Inc on Jun 16, 2016 to “Buy”, Price Target of the shares are set at $45.
Shake Shack Inc opened for trading at $40.71 and hit $41.75 on the upside on Monday, eventually ending the session at $41.38, with a gain of 2.68% or 1.08 points. The heightened volatility saw the trading volume jump to 8,00,663 shares. Company has a market cap of $1,501 M.
In a different news, on Mar 17, 2016, Peggy Rubenzer (SVP, People Resources) sold 2,000 shares at $33.49 per share price. According to the SEC, on Aug 20, 2015, Jeffrey J Uttz (Chief Financial Officer) sold 26,235 shares at $57.75 per share price. On Feb 6, 2015, Jenna Lyons (director) purchased 10,000 shares at $21.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Shake Shack Inc. (Shake Shack) is a holding company with no direct operations and its principal asset is the equity interest in SSE Holdings LLC (SSE Holdings). The Company holds 33.3% ownership interest in SSE Holdings. SSE Holdings operates and licenses restaurants in the global restaurant industry serving hamburgers hot dogs crinkle-cut fries shakes frozen custard beer and wine. As of December 31 2014 the Company had 63 Shake Shack restaurants (Shacks) in nine countries and 34 cities. The Company owns and operates Shacks in 10 states and the District of Columbia. As of December 31 2014 the Company had 31 company-operated Shacks in operation in the United States. The Company also has license arrangements with affiliated and unaffiliated operators to develop and operate Shacks. As of December 31 2014 32 licensed Shacks were in operation under license agreements in North America Europe and Asia.