Q2 2024 EPS Estimates for Shake Shack Inc. Raised by Analyst (NYSE:SHAK)

Shake Shack Inc. (NYSE:SHAK) – Wedbush lifted their Q2 2024 EPS estimates for Shake Shack in a research note issued to investors on Friday, April 26th. Wedbush analyst N. Setyan now forecasts that the company will post earnings per share of $0.27 for the quarter, up from their prior forecast of $0.25. Wedbush currently has a “Neutral” rating and a $80.00 price objective on the stock. The consensus estimate for Shake Shack’s current full-year earnings is $0.71 per share. Wedbush also issued estimates for Shake Shack’s Q1 2025 earnings at $0.14 EPS and Q2 2025 earnings at $0.34 EPS.

Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, February 15th. The company reported $0.02 earnings per share for the quarter. The firm had revenue of $286.20 million for the quarter, compared to the consensus estimate of $280.45 million. Shake Shack had a net margin of 1.82% and a return on equity of 3.67%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) EPS.

A number of other analysts have also recently weighed in on SHAK. StockNews.com cut Shake Shack from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. Robert W. Baird increased their price target on shares of Shake Shack from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, February 13th. Oppenheimer upped their price objective on shares of Shake Shack from $108.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. increased their price objective on Shake Shack from $65.00 to $100.00 and gave the company an “underweight” rating in a report on Monday, March 4th. Finally, UBS Group raised their price target on Shake Shack from $80.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $88.67.

Shake Shack Stock Performance

Shares of Shake Shack stock opened at $105.86 on Monday. The business has a 50-day simple moving average of $101.70 and a 200-day simple moving average of $79.34. The company has a market cap of $4.48 billion, a PE ratio of 230.13, a P/E/G ratio of 3.78 and a beta of 1.80. Shake Shack has a one year low of $52.64 and a one year high of $110.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.01 and a current ratio of 2.04.

Hedge Funds Weigh In On Shake Shack

Large investors have recently bought and sold shares of the business. QRG Capital Management Inc. grew its position in Shake Shack by 4.5% in the 4th quarter. QRG Capital Management Inc. now owns 3,711 shares of the company’s stock worth $275,000 after purchasing an additional 161 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Shake Shack in the 1st quarter valued at approximately $25,000. SG Americas Securities LLC raised its stake in Shake Shack by 6.9% during the 3rd quarter. SG Americas Securities LLC now owns 3,747 shares of the company’s stock valued at $218,000 after acquiring an additional 243 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in Shake Shack by 5.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 4,560 shares of the company’s stock worth $265,000 after acquiring an additional 247 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in shares of Shake Shack by 1.4% in the third quarter. Los Angeles Capital Management LLC now owns 19,679 shares of the company’s stock worth $1,143,000 after purchasing an additional 274 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

Insider Activity

In related news, Director Daniel Harris Meyer sold 23,966 shares of Shake Shack stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $100.13, for a total transaction of $2,399,715.58. Following the transaction, the director now owns 526,471 shares in the company, valued at approximately $52,715,541.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Jeffrey Flug sold 304 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $103.01, for a total value of $31,315.04. Following the transaction, the director now owns 3,754 shares in the company, valued at $386,699.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel Harris Meyer sold 23,966 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $100.13, for a total transaction of $2,399,715.58. Following the sale, the director now directly owns 526,471 shares of the company’s stock, valued at approximately $52,715,541.23. The disclosure for this sale can be found here. Insiders have sold 100,760 shares of company stock valued at $10,190,420 in the last three months. Corporate insiders own 10.06% of the company’s stock.

About Shake Shack

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.