Brokers Offer Predictions for Shake Shack Inc.’s FY2024 Earnings (NYSE:SHAK)

Shake Shack Inc. (NYSE:SHAK) – Stock analysts at Wedbush reduced their FY2024 EPS estimates for shares of Shake Shack in a research report issued on Friday, August 2nd. Wedbush analyst N. Setyan now expects that the company will post earnings of $0.74 per share for the year, down from their previous estimate of $0.75. Wedbush currently has a “Neutral” rating and a $90.00 price objective on the stock. The consensus estimate for Shake Shack’s current full-year earnings is $0.76 per share. Wedbush also issued estimates for Shake Shack’s Q4 2024 earnings at $0.11 EPS, Q2 2025 earnings at $0.38 EPS, Q4 2025 earnings at $0.16 EPS and FY2025 earnings at $1.06 EPS.

A number of other brokerages have also weighed in on SHAK. Bank of America reduced their target price on shares of Shake Shack from $116.00 to $96.00 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Shake Shack from $105.00 to $115.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Truist Financial upped their target price on shares of Shake Shack from $125.00 to $127.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Morgan Stanley reduced their target price on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. upped their target price on shares of Shake Shack from $102.00 to $105.00 and gave the stock an “underweight” rating in a research note on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $104.83.

Shake Shack Price Performance

Shares of NYSE SHAK opened at $99.32 on Monday. The firm has a market cap of $4.20 billion, a PE ratio of 180.59, a PEG ratio of 2.58 and a beta of 1.75. The company has a current ratio of 2.06, a quick ratio of 1.99 and a debt-to-equity ratio of 0.51. Shake Shack has a 1-year low of $52.79 and a 1-year high of $111.29. The company has a fifty day moving average price of $88.87 and a 200 day moving average price of $93.83.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The business had revenue of $316.50 million during the quarter, compared to analysts’ expectations of $314.37 million. During the same quarter in the prior year, the company earned $0.18 EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis.

Insider Activity at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 963 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $96.03, for a total value of $92,476.89. Following the completion of the sale, the chief financial officer now directly owns 37,464 shares in the company, valued at approximately $3,597,667.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $90.39, for a total value of $27,478.56. Following the transaction, the director now directly owns 3,347 shares of the company’s stock, valued at approximately $302,535.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Katherine Irene Fogertey sold 963 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $96.03, for a total transaction of $92,476.89. Following the completion of the transaction, the chief financial officer now directly owns 37,464 shares in the company, valued at $3,597,667.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,892 shares of company stock worth $177,134. Insiders own 9.73% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Quest Partners LLC bought a new position in shares of Shake Shack during the second quarter worth approximately $38,000. Arizona State Retirement System increased its holdings in shares of Shake Shack by 1.9% during the second quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock worth $945,000 after purchasing an additional 196 shares during the period. TD Asset Management Inc increased its holdings in shares of Shake Shack by 6.1% during the second quarter. TD Asset Management Inc now owns 21,000 shares of the company’s stock worth $1,890,000 after purchasing an additional 1,200 shares during the period. Larson Financial Group LLC boosted its position in shares of Shake Shack by 2.3% during the 2nd quarter. Larson Financial Group LLC now owns 37,946 shares of the company’s stock worth $3,415,000 after acquiring an additional 866 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of 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. 86.07% of the stock is owned by institutional investors.

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.