Shake Shack (NYSE:SHAK) Releases Quarterly Earnings Results, Hits Expectations

Shake Shack (NYSE:SHAK) announced its quarterly earnings results on Thursday. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27, Briefing.com reports. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. The company had revenue of $316.50 million for the quarter, compared to analysts’ expectations of $314.37 million. During the same period in the prior year, the company posted $0.18 EPS. Shake Shack’s revenue was up 16.4% compared to the same quarter last year. Shake Shack updated its Q3 2024 guidance to EPS and its FY 2024 guidance to EPS.

Shake Shack Trading Down 5.8 %

Shares of Shake Shack stock traded down $5.98 during trading on Friday, reaching $96.43. The company’s stock had a trading volume of 2,512,328 shares, compared to its average volume of 952,773. The firm’s 50-day moving average is $88.89 and its two-hundred day moving average is $92.82. The company has a quick ratio of 1.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.52. Shake Shack has a 52-week low of $52.79 and a 52-week high of $111.29. The company has a market cap of $4.08 billion, a price-to-earnings ratio of 175.33, a PEG ratio of 2.34 and a beta of 1.75.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SHAK shares. UBS Group increased their target price on Shake Shack from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. TD Cowen restated a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a research note on Thursday. Deutsche Bank Aktiengesellschaft lifted their target price on Shake Shack from $105.00 to $115.00 and gave the company a “hold” rating in a report on Friday. Wedbush reissued a “neutral” rating and issued a $90.00 price target on shares of Shake Shack in a report on Thursday. Finally, Barclays boosted their price objective on shares of Shake Shack from $108.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $103.05.

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.