Shake Shack (NYSE:SHAK) Announces Quarterly Earnings Results

Shake Shack (NYSE:SHAK) released its quarterly earnings data on Thursday. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 during the quarter, compared to the consensus estimate of $314.37 million. During the same period in the previous year, the firm earned $0.18 earnings per share. Shake Shack’s revenue for the quarter was up 16.4% on a year-over-year basis. Shake Shack updated its Q3 2024 guidance to EPS and its FY 2024 guidance to EPS.

Shake Shack Price Performance

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SHAK shares. JPMorgan Chase & Co. increased their target price on shares of Shake Shack from $102.00 to $105.00 and gave the stock an “underweight” rating in a report on Monday, June 3rd. Barclays increased their target price on shares of Shake Shack from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday. Capital One Financial started coverage on shares of Shake Shack in a report on Monday. They set an “overweight” rating and a $95.00 target price on the stock. Wedbush reissued a “neutral” rating and set a $90.00 target price on shares of Shake Shack in a report on Thursday. Finally, The Goldman Sachs Group increased their target price on shares of Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shake Shack currently has a consensus rating of “Hold” and an average price target of $103.05.

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.