Analysts Set Expectations for Shake Shack FY2024 Earnings

Shake Shack Inc. (NYSE:SHAK) – Equities researchers at William Blair raised their FY2024 earnings estimates for Shake Shack in a report released on Wednesday, October 30th. William Blair analyst S. Zackfia now expects that the company will post earnings per share of $0.78 for the year, up from their previous forecast of $0.72. The consensus estimate for Shake Shack’s current full-year earnings is $0.74 per share. William Blair also issued estimates for Shake Shack’s FY2025 earnings at $1.10 EPS.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The business had revenue of $316.92 million during the quarter, compared to analyst estimates of $316.03 million. During the same period last year, the business earned $0.17 EPS. The business’s revenue was up 14.7% on a year-over-year basis.

Other equities research analysts have also issued research reports about the company. Wedbush restated a “neutral” rating and set a $90.00 price objective on shares of Shake Shack in a research note on Thursday, August 1st. Oppenheimer raised their price target on shares of Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday. Piper Sandler cut shares of Shake Shack from an “overweight” rating to a “neutral” rating and cut their price target for the company from $121.00 to $114.00 in a report on Monday, August 19th. Truist Financial reissued a “buy” rating and set a $127.00 price objective on shares of Shake Shack in a report on Wednesday, August 28th. Finally, The Goldman Sachs Group upped their target price on shares of Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Shake Shack currently has an average rating of “Hold” and a consensus price target of $109.06.

Shake Shack Stock Down 0.7 %

Shares of Shake Shack stock opened at $121.67 on Friday. Shake Shack has a 1-year low of $54.06 and a 1-year high of $130.20. The company has a market capitalization of $5.17 billion, a PE ratio of 715.71, a P/E/G ratio of 3.58 and a beta of 1.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 2.03. The business has a 50-day moving average of $105.57 and a 200-day moving average of $98.49.

Hedge Funds Weigh In On Shake Shack

Several hedge funds have recently modified their holdings of SHAK. Xponance Inc. raised its position in Shake Shack by 4.5% in the second quarter. Xponance Inc. now owns 2,395 shares of the company’s stock worth $216,000 after acquiring an additional 103 shares in the last quarter. Brighton Jones LLC lifted its stake in Shake Shack by 1.1% during the second quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock valued at $1,612,000 after purchasing an additional 187 shares during the last quarter. Arizona State Retirement System boosted its holdings in Shake Shack by 1.9% during the second quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock worth $945,000 after buying an additional 196 shares in the last quarter. CWM LLC grew its position in Shake Shack by 24.7% in the second quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $94,000 after buying an additional 207 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Shake Shack by 1.8% in the third quarter. Amalgamated Bank now owns 11,721 shares of the company’s stock valued at $1,210,000 after buying an additional 211 shares in the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the sale, the director now owns 470,437 shares of the company’s stock, valued at approximately $51,860,974.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the sale, the director now directly owns 470,437 shares in the company, valued at $51,860,974.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Flug sold 304 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $90.39, for a total transaction of $27,478.56. Following the completion of the transaction, the director now owns 3,347 shares of the company’s stock, valued at $302,535.33. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,367 shares of company stock worth $2,337,213. Insiders own 9.73% of the company’s stock.

Shake Shack Company Profile

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.