Brokers Offer Predictions for Shake Shack FY2024 Earnings

Shake Shack Inc. (NYSE:SHAK) – Zacks Research raised their FY2024 earnings per share (EPS) estimates for shares of Shake Shack in a note issued to investors on Wednesday, January 8th. Zacks Research analyst H. Ray now expects that the company will post earnings per share of $0.82 for the year, up from their prior forecast of $0.81. The consensus estimate for Shake Shack’s current full-year earnings is $0.82 per share. Zacks Research also issued estimates for Shake Shack’s Q4 2024 earnings at $0.17 EPS, Q1 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.31 EPS, FY2025 earnings at $1.09 EPS, Q3 2026 earnings at $0.39 EPS, Q4 2026 earnings at $0.36 EPS and FY2026 earnings at $1.40 EPS.

A number of other equities research analysts have also issued reports on SHAK. Oppenheimer upped their target price on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday. Gordon Haskett upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price objective for the company in a report on Wednesday. Truist Financial boosted their target price on Shake Shack from $147.00 to $149.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus increased their price target on Shake Shack from $115.00 to $128.00 and gave the company a “hold” rating in a report on Friday. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $102.00 price objective (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $122.89.

Shake Shack Stock Down 3.2 %

Shares of SHAK opened at $128.61 on Friday. The stock has a 50 day moving average price of $130.04 and a 200 day moving average price of $109.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of 756.53, a PEG ratio of 2.83 and a beta of 1.86. Shake Shack has a one year low of $64.16 and a one year high of $139.89.

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

Insider Transactions at Shake Shack

In other news, Director Daniel Harris Meyer sold 22,691 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total transaction of $2,824,348.77. Following the sale, the director now owns 437,646 shares of the company’s stock, valued at approximately $54,473,797.62. This represents a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Katherine Irene Fogertey sold 642 shares of the firm’s stock in a transaction that occurred 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 directly owns 30,717 shares of the company’s stock, 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 three months, insiders have sold 53,333 shares of company stock worth $6,566,330. 9.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Shake Shack

Hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its holdings in Shake Shack by 1.5% during the 2nd quarter. Rhumbline Advisers now owns 106,272 shares of the company’s stock worth $9,564,000 after acquiring an additional 1,523 shares in the last quarter. TD Asset Management Inc increased its holdings in Shake Shack by 6.1% in the second quarter. TD Asset Management Inc now owns 21,000 shares of the company’s stock valued at $1,890,000 after buying an additional 1,200 shares during the last quarter. Arizona State Retirement System increased its holdings in Shake Shack by 1.9% in the second quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock valued at $945,000 after buying an additional 196 shares during the last quarter. Quest Partners LLC acquired a new stake in Shake Shack in the second quarter valued at $38,000. Finally, Texas Permanent School Fund Corp lifted its holdings in Shake Shack by 6.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 34,977 shares of the company’s stock worth $3,148,000 after buying an additional 2,162 shares during the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

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.