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Published on Aug 11, 2016
Shake
Shack is overvalued and the level of skepticism about its shares on
Wall Street is rising, said TheStreet's Jim Cramer. Shake Shack reported
earnings on Wednesday afternoon that left investors unsated despite an
earnings beat. The burger-flipper said its same-restaurant growth
declined from a year ago. However, the company's second-quarter earnings
were $3.3 million, or 14 cents a share, beating analyst estimates of 13
cents. And net sales of $66.5 million, a rise of 37.2% from a year ago,
also beat expectations of $63.2 million. Shake Shack said it plans to
open 18 new U.S. restaurants in 2017, above the 16 initially forecast.
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