Actionable news
All posts from Actionable news
Actionable news in SHAK: SHAKE SHACK Inc,

Shake Shack Shares Near 2016 Highs Ahead Of Wednesday's Q2 Earnings Report

Ahead of the earnings announcement, Shake Shack Inc SHAK 1.63% investors remained wavering. The stock was down about 1.8 percent at $40.80 heading into the close.

If the past four quarters are taken into account, investors shouldn't be surprised by another earnings beat in the second quarter. In the preceding four quarters, its positive surprise ranged between 14.3 percent and 200 percent.

Last month, Wedbush initiated coverage on Shake Shack with an Underperform rating. Analyst Nick Setyan expects same-store-sales growth headwinds to step up beyond the current year. Barclays maintained its Equal-Weight rating and $40 price target.

More than the second quarter results, the outlook of the company may dictate the direction of the stock price. Barclays believes fundamentals are challenged while visibility is limited. The firm said, "We are cautious on the sector near-term."

Street analysts expect Shake Shack to report EPS of $0.13 on revenues of $63.11 million for the June quarter.

At time of writing, shares of the company traded at $40.90, down $0.68, or 1.64 percent.

© 2016 Benzinga does not provide investment advice. All rights reserved.