FY2024 EPS Estimates for Shake Shack Boosted by Analyst

Shake Shack Inc. (NYSE:SHAK) – Equities researchers at William Blair upped their FY2024 earnings per share estimates for shares of Shake Shack in a research report issued on Wednesday, October 30th. William Blair analyst S. Zackfia now forecasts that the company will earn $0.78 per share for the year, up from their prior estimate 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.

Several other equities research analysts have also recently weighed in on SHAK. Capital One Financial assumed coverage on Shake Shack in a research note on Monday, July 29th. They set an “overweight” rating and a $95.00 target price for the company. Bank of America upped their target price 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. TD Cowen reiterated a “buy” rating and set a $125.00 price target on shares of Shake Shack in a research note on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $115.00 price target on shares of Shake Shack in a research report on Wednesday, August 28th. Finally, Piper Sandler lowered Shake Shack from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $121.00 to $114.00 in a report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $109.06.

Shake Shack Stock Performance

Shares of Shake Shack stock opened at $121.67 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.03 and a current ratio of 2.01. Shake Shack has a one year low of $54.06 and a one year high of $130.20. The company has a market cap 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 business has a 50-day simple moving average of $105.57 and a 200-day simple moving average of $98.49.

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

Institutional Investors Weigh In On Shake Shack

Several institutional investors and hedge funds have recently added to or reduced their stakes in SHAK. Allspring Global Investments Holdings LLC purchased a new position in Shake Shack in the first quarter valued at approximately $25,000. Quest Partners LLC acquired a new stake in shares of Shake Shack in the second quarter worth $38,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Shake Shack in the 3rd quarter valued at $41,000. Kimelman & Baird LLC acquired a new position in shares of Shake Shack during the 2nd quarter valued at $45,000. Finally, Covestor Ltd boosted its position in Shake Shack by 32,150.0% during the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after purchasing an additional 643 shares during the period. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $95.10, for a total value of $30,527.10. Following the completion of the transaction, the chief financial officer now owns 37,143 shares in the company, valued at $3,532,299.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $95.10, for a total transaction of $30,527.10. Following the transaction, the chief financial officer now directly owns 37,143 shares in the company, valued at approximately $3,532,299.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey Flug sold 304 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 3,347 shares of the company’s stock, valued at approximately $302,535.33. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,367 shares of company stock worth $2,337,213. Corporate insiders own 9.73% 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.