|Bid||48.62 x 800|
|Ask||49.30 x 800|
|Day's Range||49.25 - 53.09|
|52 Week Range||32.11 - 83.11|
|Beta (5Y Monthly)||1.09|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 22, 2020 - Apr 26, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||52.24|
GrubHub Inc (NYSE: GRUB ) CEO Matt Maloney was a guest on CNBC Wednesday to talk about the COVID-19 virus outbreak, among other hot topics impacting the food delivery industry . Coronavirus A 'Scary Situation' ...
Grubhub, the nation's leading pickup and delivery marketplace with the largest restaurant network, today launched Grubhub+, a new membership program loaded with rewards (Seamless+ also available). Grubhub+ goes above and beyond other subscription programs with member benefits like 10% Cashback and donation matching to high impact organizations like No Kid Hungry.
Shake Shack Inc (NYSE: SHAK) reported fourth-quarter results that fell short of expectations. Shake Shack reported quarterly earnings of 6 cents per share, unchanged from the same period last year. Longbow Research analyst Alton Stump noted that comparable sales were down 3.6% in the quarter, which was worse than the 3% the research firm expected while EBITDA of $11.7 million also missed estimates of $14.2 million.
Shake Shack Inc. said adding Chick'n Bites, its version of chicken nuggets, to the core menu came with a headwind that eased at the back end of the year. In addition, it was the focus of the company's menu innovation for 2019, which Shake Shack says contributed to a traffic decline. Shake Shack shares are down 12.6% in Tuesday trading after it reported a fourth-quarter loss and sales miss. However, analysts are focused on the shift to a single delivery partner, Grubhub Inc. , which Shake Shack has said previously will cause "volatility." "The current disruption is weighing on the results, but the magnitude and duration of the pressure remains TBD," wrote MKM Partners in a note. MKM rates Shake Shack shares neutral with a $70 price target, up from $65. "Significant challenges remain as key markets, such as California, have yet to transition to GrubHub exclusivity, and we believe there is risk the company will struggle to alter consumer behavior away from regional favorites like Postmates and DoorDash," wrote Stifel analysts. Stifel rates Shake Shack stock hold with a $60 price target. And SunTrust Robinson Humphrey analysts are concerned about cannibalization as Shake Shack expands, a concern that has come up previously. SunTrust rates Shack Shack shares hold with a $71 price target, down from $79. Shake Shack stock has gained nearly 23% over the past year while the S&P 500 index is up 14.3% for the period.
(Bloomberg) -- Shake Shack Inc. shares plunged on Tuesday after the company posted worse-than-expected comparable sales and disappointing 2020 targets as growth in delivery slowed amid a shift to a sole partnership with Grubhub Inc.“Results and guidance reinforced our concerns around Shake Shack’s transition to a single delivery partner and increased cannibalization, which drove our recent downgrade,” SunTrust analyst Jake Bartlett wrote. The headwind from the delivery transition is likely “to get worse, before it gets better.” Other analysts remain cautious on the transition, as well.The company also blamed cannibalization for the sales shortfall. Bartlett noted that the issue has been a concern for investors for a few years now, and he anticipates that it will remain a focus.Shares tumbled as much as 17% to $61.15, the biggest intraday decline since Nov. 5. Shares had been up 24% so far this year, following the 31% advance for all of 2019.Here’s more of Wall Street analysts had to say following the report.SunTrust, Jake BartlettWith roughly 50% of the system recently solely integrated with Grubhub vs. 25% at the end of 2019, the analyst expects delivery sales to actually decline as Shack loses customers loyal to its prior partners.“For instance, we found that at the end of January, DoorDash (private) stopped offering access to Shack Shack in Boston, Chicago and DC, all markets that have been recently integrated solely with Grubhub. Of course, we see the greatest risk to sales when SHAK solely integrates with Grubhub in NYC and loses DoorDash sales.”Along with a shorter holiday season, adverse weather, less menu innovation and less of a lift from delivery, management said sales were also hurt by cannibalization from rapid development. This has “long been a topic” among Shake Shack investors -- it contributed to negative comps. in 2017.“Cannibalization will likely remain a focus as delivery sales slow or decline, and SHAK increasingly focuses on infilling markets.”Rates hold, price target to $71 from $79.Wedbush, Nick SetyanThe 2020 comp guidance is predicated on a second-half inflection after the Grub-transition, but the exact timing of the completion of the switch remains an unknown.Setyan believes negative same-store sales guidance (down low single-digits) is “prudent” due to limited visibility around the ongoing transition to an exclusive Grubhub delivery partnership.Restaurant-level margins were a positive surprise in the fourth-quarter, but could prove “optimistic” given the “absence of a stabilization” in second-half comparable sales growth and relatively tame food costs.Rates neutral, price target $75.Morgan Stanley, John Glass“With materially weaker traffic, fourth quarter missed our below-Street comp. expectations and guidance for 2020 suggests to us the start of the year could be similar or modestly worse.”A more gradual transition to Grubhub as a sole delivery partner is the primary reason for the shortfall in the quarter, though weather compares, a shorter holiday season, and potentially cannibalization in in-fill markets were also contributors.“In 2020, add to this the potential impact on licensing revenue from coronavirus.”Bulls waiting for faster earnings growth will have to “remain patient” in 2020.Rates equal-weight, price target to $62 from $63.Raymond James, Brian Vaccaro“We expect weak comp trends seen in 4Q to continue over the next few quarters as the company transitions to Grubhub as its sole delivery partner.”’Management guidance for “stable” store margins in 2020 looks “aggressive in light of negative first-half comps. and continued labor pressures, though lower delivery fees and extra week benefit will help.”Rates underperform.(Updates first and fourth graphs and chart to reflect regular trading)To contact the reporter on this story: Janet Freund in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Will DaleyFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Shake Shack Inc expects its delivery sales to be volatile throughout 2020 after its move last year to an exclusive partnership with third-party platform Grubhub Inc , it said on Monday. The New York City-based fast-casual chain expects "potentially significant volatility in the delivery channel throughout much of 2020," Chief Financial Officer Tara Comonte said during an earnings call on Monday. Shake Shack shares were down more than 12% in after-market trading on disappointing results, with revenues this year forecast between $712 million and $720 million, well below average analyst estimates.
Shake Shack Inc (NYSE: SHAK ) missed analysts' revenue expectations amid a year-over-year drop in comparable store sales in the fourth quarter, sending the burger chain's share price down in after-hours ...
Shake Shack earnings are due late Monday, amid concerns about efforts to streamline its delivery business. Shares are well off its late 2019 peak.
Shake Shack Inc. was downgraded to hold from buy at SunTrust Robinson Humphrey on 2020 guidance fears when the burger chain announces fourth-quarter earnings on Monday. Analysts lowered their price target to $79 from $82. SunTrust says these near- and medium-term concerns could have an impact on same-store sales. The FactSet forecast for fiscal 2020 same-store sales growth is 0.7%. "As Shake Shack transitions to a single delivery partner and focuses on in-filling markets, visibility on positive same-store sales is unusually low," analysts led by Jake Bartlett wrote. Analysts think the move to GrubHub Inc. could come with "deeper and longer" sales risk. And as new Shacks are opened, there's cannibalization risk. Despite the downgrade, analysts still think Shake Shack is one of the strongest growth stories in restaurants, as menu innovation and recent same-store sales growth could offset the aforementioned pressures. Shake Shack stock is down 1.5% in Friday premarket trading, but up 44.8% over the last year. The S&P 500 index has gained 21.6% for the past 12 months.
Food delivery companies DoorDash, Postmates and Uber Technologies Inc (NYSE: UBER) all held some form of merger discussion in 2019, according to The Wall Street Journal's sources. Postmates privately filed to become a public company in 2019, but delayed its IPO in October after looking at Uber's rough IPO debut and WeWork's failed public offering.
Moore Kuehn, PLLC, a securities law firm located on Wall Street in downtown New York City, is investigating potential claims involving directors and officers regarding possible breaches of fiduciary duties and other violations of law related to whether insiders, as alleged in federal securities lawsuits, caused their companies to make false and/or misleading statements and/or failed to disclose, among other things, that:
SAN DIEGO, CA / ACCESSWIRE / February 11, 2020 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in Merit Grubhub Inc. (NYSE:GRUB) shares. Investors, who purchased ...
The retail apocalypse has hollowed out malls across the U.S. And the downward trend has spurred a phenomenon, dubbed “ghost kitchens."
Uber is able to turn a robust positive EBITDA for its core ridesharing business, but its other bets have been pulling down the company's profitability
Uber Technologies is a global company that is transforming the ride-sharing and meal delivery markets. After a much-hyped debut on May 10, Uber stock is one of the most watched IPO stocks today, but is Uber a buy right now in the current stock market? In 2018, Uber had earnings of 59 cents per share, but the profit is expected to be temporary.
Shares of GrubHub Inc. are off about 5% in morning trading Friday after D.A. Davidson analyst Tom Forte downgraded the stock to underperform from neutral, writing that the company has adapted well to changes in the food-delivery industry but that those "adjustments have come at a cost." As GrubHub has pushed to add more quick-service chains to its offerings as a way to keep up with the competition, the company has also added a lower-margin option to its business. He lowered his price target on the stock to $33 from $37. Shares dropped 1.7% in Thursday's session following a mixed earnings report, but they're up 50% over the past three months as the S&P 500 has added 8.1%.
Grubhub Inc. (NYSE:GRUB) last week reported its latest yearly results, which makes it a good time for investors to...