Shake Shack (NYSE:SHAK) Posts Earnings Results, Beats Expectations By $0.05 EPS

Shake Shack (NYSE:SHAK) issued its quarterly earnings results on Wednesday. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05, Briefing.com reports. The business had revenue of $316.92 million for the quarter, compared to the consensus estimate of $316.03 million. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. Shake Shack updated its Q4 2024 guidance to EPS.

Shake Shack Stock Performance

Shares of Shake Shack stock traded down $0.40 during trading on Thursday, hitting $122.07. 760,009 shares of the company’s stock traded hands, compared to its average volume of 939,736. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.06 and a quick ratio of 2.03. Shake Shack has a 1 year low of $54.06 and a 1 year high of $130.20. The stock has a market capitalization of $5.16 billion, a P/E ratio of 221.93, a PEG ratio of 3.23 and a beta of 1.83. The business has a 50-day simple moving average of $105.57 and a 200-day simple moving average of $98.49.

Insider Activity at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $110.24, for a total value of $1,102,400.00. Following the transaction, the director now directly owns 470,437 shares of the company’s stock, valued at approximately $51,860,974.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Katherine Irene Fogertey sold 963 shares of Shake Shack stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $96.03, for a total transaction of $92,476.89. Following the sale, the chief financial officer now owns 37,464 shares of the company’s stock, valued at approximately $3,597,667.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $110.24, for a total value 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,330 shares of company stock valued at $2,429,690 over the last ninety days. Insiders own 9.73% of the company’s stock.

Analyst Upgrades and Downgrades

SHAK has been the subject of a number of recent analyst reports. Robert W. Baird upped their price objective on Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Bank of America boosted their price target on shares of Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Oppenheimer lifted their target price on Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday. Wedbush reiterated a “neutral” rating and issued a $90.00 price target on shares of Shake Shack in a report on Thursday, August 1st. Finally, The Goldman Sachs Group boosted their price objective on shares of Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $109.06.

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.