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

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Ahead of the earnings announcement, Shake Shack Inc
SHAK
investors remained wavering. On the one side, the stock reached the near high of the current year at $41.80 while on the other hand, it reached the day's low of $40.01. If the past four quarters are taken into account, investors should not be surprised by another earnings beat in the second quarter. In the preceding four quarters, its positive surprise ranged between 14.30 percent and 200 percent. However, investors appeared to have taken a view after the Wendy's Company
WEN
disclosed its outlook for the current year earlier in the day. Last month, Wedbush initiated coverage on Shake Shack shares with an Underperform rating. Its analyst, Nick Setyan, expects same-store-sales growth headwinds to step up beyond the current year. Barclays maintained its Equal Weight rating and price target of $40.00. More than the second quarter results, the outlook of the company would dictate the direction of the stock price. Barclays believes that fundamentals are challenged while visibility is limited. The company said "we are cautious on the sector near-term." Street analysts expect Shake Shack to report an EPS of $0.13 on revenues of $63.11 million for the June quarter. At time of writing this, shares of the company traded at $40.90, down $0.68, or 1.64 percent.
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