FY2024 EPS Estimates for Shake Shack Lifted by William Blair

Shake Shack Inc. (NYSE:SHAK) – Stock analysts at William Blair increased their FY2024 EPS estimates for Shake Shack in a research note issued to investors on Wednesday, October 30th. William Blair analyst S. Zackfia now forecasts that the company will post earnings of $0.78 per share for the year, up from their prior forecast of $0.72. The consensus estimate for Shake Shack’s current full-year earnings is $0.74 per share. William Blair also issued estimates for Shake Shack’s FY2025 earnings at $1.10 EPS.

Shake Shack (NYSE:SHAK) last issued its earnings results on Wednesday, October 30th. The company reported $0.25 EPS 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 for the quarter, compared to the consensus estimate of $316.03 million. During the same period in the previous year, the firm earned $0.17 earnings per share. Shake Shack’s quarterly revenue was up 14.7% compared to the same quarter last year.

Other equities analysts also recently issued reports about the stock. Morgan Stanley reduced their target price on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Wedbush reiterated a “neutral” rating and set a $90.00 price target on shares of Shake Shack in a research report on Thursday, August 1st. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $102.00 price target (down from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. TD Cowen reiterated a “buy” rating and set a $125.00 price target on shares of Shake Shack in a research report on Wednesday, September 18th. Finally, Piper Sandler cut shares of Shake Shack from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $121.00 to $114.00 in a research report on Monday, August 19th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $110.00.

Shake Shack Price Performance

Shares of SHAK stock opened at $124.10 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 2.03. The firm’s 50-day moving average is $105.87 and its two-hundred day moving average is $98.65. Shake Shack has a 12 month low of $54.06 and a 12 month high of $130.20. The company has a market capitalization of $5.27 billion, a PE ratio of 728.76, a price-to-earnings-growth ratio of 3.58 and a beta of 1.83.

Institutional Trading of Shake Shack

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Shake Shack during the 1st quarter worth approximately $25,000. Quest Partners LLC purchased a new stake in shares of Shake Shack during the 2nd quarter worth approximately $38,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Shake Shack during the 3rd quarter worth approximately $41,000. Kimelman & Baird LLC purchased a new stake in shares of Shake Shack during the 2nd quarter worth approximately $45,000. Finally, Covestor Ltd lifted its position in shares of Shake Shack by 32,150.0% during the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after buying an additional 643 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Insider Activity at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.10, for a total value of $30,527.10. Following the completion of the transaction, the chief financial officer now owns 37,143 shares in the company, valued at $3,532,299.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Daniel Harris Meyer sold 22,691 shares of Shake Shack stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total value of $2,824,348.77. Following the completion of the transaction, the director now owns 437,646 shares in the company, valued at $54,473,797.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $95.10, for a total transaction of $30,527.10. Following the sale, the chief financial officer now owns 37,143 shares of the company’s stock, valued at $3,532,299.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,058 shares of company stock worth $5,161,562. Corporate insiders own 9.73% of the company’s stock.

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.