What is Wedbush’s Forecast for Shake Shack FY2024 Earnings?

Shake Shack Inc. (NYSE:SHAK) – Research analysts at Wedbush boosted their FY2024 earnings estimates for Shake Shack in a research report issued to clients and investors on Wednesday, January 15th. Wedbush analyst N. Setyan now anticipates that the company will post earnings per share of $0.90 for the year, up from their prior forecast of $0.80. Wedbush has a “Neutral” rating and a $130.00 price objective on the stock. The consensus estimate for Shake Shack’s current full-year earnings is $0.82 per share. Wedbush also issued estimates for Shake Shack’s Q2 2025 earnings at $0.34 EPS, Q4 2025 earnings at $0.32 EPS and FY2025 earnings at $1.26 EPS.

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

Other research analysts have also issued research reports about the stock. Stifel Nicolaus dropped their price objective on shares of Shake Shack from $128.00 to $110.00 and set a “hold” rating for the company in a report on Friday. Truist Financial dropped their price target on shares of Shake Shack from $149.00 to $143.00 and set a “buy” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $102.00 price target (down previously from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. UBS Group increased their price objective on Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Finally, Barclays raised Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $125.00 to $159.00 in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $123.78.

Shake Shack Stock Performance

Shares of SHAK stock opened at $115.25 on Thursday. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of 677.94, a PEG ratio of 1.91 and a beta of 1.86. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $128.97 and its 200-day moving average price is $111.20. Shake Shack has a 12 month low of $66.06 and a 12 month high of $139.89.

Institutional Trading of Shake Shack

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quest Partners LLC bought a new position in shares of Shake Shack in the second quarter valued at $38,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Shake Shack in the 3rd quarter worth about $41,000. Kimelman & Baird LLC bought a new position in Shake Shack in the 2nd quarter valued at about $45,000. Covestor Ltd increased its holdings in Shake Shack by 41.6% during the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock worth $72,000 after purchasing an additional 205 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Shake Shack by 56.3% during the 4th quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $96,000 after purchasing an additional 265 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 30,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $121.79, for a total value of $3,653,700.00. Following the completion of the sale, the director now directly owns 407,646 shares of the company’s stock, valued at $49,647,206.34. The trade was a 6.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total value of $88,281.42. Following the completion of the transaction, the chief financial officer now owns 30,717 shares in the company, 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. Insiders sold 53,333 shares of company stock worth $6,566,330 in the last quarter. 9.73% of the stock is owned by corporate insiders.

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.