Wedbush Forecasts Shake Shack’s FY2024 Earnings (NYSE:SHAK)

Shake Shack Inc. (NYSE:SHAK) – Equities research analysts at Wedbush upped their FY2024 earnings per share estimates for Shake Shack in a report released on Wednesday, January 15th. Wedbush analyst N. Setyan now anticipates that the company will post earnings per share of $0.90 for the year, up from their prior estimate of $0.80. Wedbush currently has a “Neutral” rating and a $130.00 price target on the stock. The consensus estimate for Shake Shack’s current full-year earnings is $0.82 per share. Wedbush also issued estimates for Shake Shack’s Q2 2025 earnings at $0.34 EPS, Q4 2025 earnings at $0.32 EPS and FY2025 earnings at $1.26 EPS.

A number of other brokerages also recently weighed in on SHAK. Barclays raised Shake Shack from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $125.00 to $159.00 in a report on Tuesday, January 7th. TD Cowen reiterated a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a research report on Wednesday, September 18th. UBS Group boosted their target price on Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Gordon Haskett upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price target on the stock in a research note on Wednesday, January 8th. Finally, Truist Financial lowered their price objective on shares of Shake Shack from $149.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $124.78.

Shake Shack Stock Performance

Shares of NYSE:SHAK opened at $116.63 on Thursday. Shake Shack has a 1 year low of $64.16 and a 1 year high of $139.89. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 686.06, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. The company’s 50 day simple moving average is $129.59 and its 200 day simple moving average is $110.96.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Shake Shack during the third quarter worth approximately $41,000. Quest Partners LLC acquired a new position in Shake Shack in the second quarter valued at approximately $38,000. Kimelman & Baird LLC bought a new position in shares of Shake Shack during the 2nd quarter worth approximately $45,000. Covestor Ltd grew its position in shares of Shake Shack by 41.6% during the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock worth $72,000 after buying an additional 205 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Shake Shack by 56.3% in the 4th quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $96,000 after acquiring an additional 265 shares in the last quarter. 86.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Shake Shack

In related news, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction on Friday, November 1st. The shares were sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the completion of the transaction, the director now owns 407,646 shares of the company’s stock, valued at $49,647,206.34. This trade represents a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Katherine Irene Fogertey sold 642 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total transaction of $88,281.42. Following the completion of the transaction, the chief financial officer now owns 30,717 shares in the company, valued at approximately $4,223,894.67. The trade was a 2.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,333 shares of company stock worth $6,566,330. 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.