Q2 2024 Earnings Estimate for Shake Shack Inc. (NYSE:SHAK) Issued By Wedbush

Shake Shack Inc. (NYSE:SHAK) – Equities research analysts at Wedbush raised their Q2 2024 earnings per share (EPS) estimates for shares of Shake Shack in a report released on Friday, April 26th. Wedbush analyst N. Setyan now expects that the company will post earnings of $0.27 per share for the quarter, up from their previous forecast of $0.25. Wedbush currently has a “Neutral” rating and a $80.00 target price on the stock. The consensus estimate for Shake Shack’s current full-year earnings is $0.71 per share. Wedbush also issued estimates for Shake Shack’s Q1 2025 earnings at $0.14 EPS and Q2 2025 earnings at $0.34 EPS.

A number of other research firms have also issued reports on SHAK. TD Cowen reaffirmed a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a research note on Wednesday, April 10th. UBS Group upped their target price on Shake Shack from $80.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. boosted their price target on Shake Shack from $65.00 to $100.00 and gave the company an “underweight” rating in a report on Monday, March 4th. Robert W. Baird boosted their price target on Shake Shack from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. Finally, Morgan Stanley boosted their price target on Shake Shack from $88.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Shake Shack presently has an average rating of “Hold” and a consensus price target of $88.67.

Shake Shack Price Performance

SHAK stock opened at $104.88 on Monday. Shake Shack has a 1 year low of $52.64 and a 1 year high of $110.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.01 and a current ratio of 2.04. The stock’s 50 day moving average price is $101.55 and its 200 day moving average price is $78.83. The firm has a market cap of $4.44 billion, a P/E ratio of 228.00, a PEG ratio of 3.78 and a beta of 1.80.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, February 15th. The company reported $0.02 earnings per share (EPS) for the quarter. Shake Shack had a return on equity of 3.67% and a net margin of 1.82%. The firm had revenue of $286.20 million for the quarter, compared to analyst estimates of $280.45 million. During the same quarter in the prior year, the company earned ($0.06) EPS. Shake Shack’s revenue was up 20.0% on a year-over-year basis.

Insider Buying and Selling

In related news, Director Daniel Harris Meyer sold 23,966 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $100.13, for a total transaction of $2,399,715.58. Following the completion of the sale, the director now directly owns 526,471 shares of the company’s stock, valued at approximately $52,715,541.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $103.01, for a total value of $31,315.04. Following the completion of the transaction, the director now directly owns 3,754 shares of the company’s stock, valued at approximately $386,699.54. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel Harris Meyer sold 23,966 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $100.13, for a total transaction of $2,399,715.58. Following the completion of the transaction, the director now directly owns 526,471 shares of the company’s stock, valued at $52,715,541.23. The disclosure for this sale can be found here. In the last three months, insiders sold 100,760 shares of company stock valued at $10,190,420. Company insiders own 10.06% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHAK. 12 West Capital Management LP lifted its position in shares of Shake Shack by 82.2% during the third quarter. 12 West Capital Management LP now owns 1,659,600 shares of the company’s stock worth $96,373,000 after purchasing an additional 748,789 shares during the last quarter. Van Berkom & Associates Inc. lifted its position in shares of Shake Shack by 19.3% during the third quarter. Van Berkom & Associates Inc. now owns 1,046,339 shares of the company’s stock worth $60,761,000 after purchasing an additional 168,947 shares during the last quarter. Linonia Partnership LP bought a new position in shares of Shake Shack during the fourth quarter worth about $41,046,000. Qube Research & Technologies Ltd lifted its position in shares of Shake Shack by 130.0% during the third quarter. Qube Research & Technologies Ltd now owns 436,888 shares of the company’s stock worth $25,370,000 after purchasing an additional 246,952 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Shake Shack by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 309,641 shares of the company’s stock worth $22,951,000 after purchasing an additional 12,362 shares during the last quarter. 86.07% of the stock is owned by hedge funds and other 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.