Brokers Set Expectations for Shake Shack FY2024 Earnings

Shake Shack Inc. (NYSE:SHAK) – Investment analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for Shake Shack in a research note issued on Wednesday, November 13th. Zacks Research analyst H. Ray now expects that the company will post earnings of $0.81 per share for the year, up from their previous forecast of $0.72. The consensus estimate for Shake Shack’s current full-year earnings is $0.82 per share. Zacks Research also issued estimates for Shake Shack’s Q4 2024 earnings at $0.16 EPS, Q1 2025 earnings at $0.18 EPS, Q2 2025 earnings at $0.34 EPS, Q3 2025 earnings at $0.30 EPS, Q4 2025 earnings at $0.25 EPS, FY2025 earnings at $1.07 EPS, Q1 2026 earnings at $0.25 EPS, Q2 2026 earnings at $0.41 EPS, Q3 2026 earnings at $0.38 EPS and FY2026 earnings at $1.33 EPS.

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

Other equities research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $115.00 price target on shares of Shake Shack in a research report on Wednesday, August 28th. Robert W. Baird lifted their price objective on Shake Shack from $93.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Bank of America boosted their price target on Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Piper Sandler cut Shake Shack from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $121.00 to $114.00 in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $102.00 price target (down from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $112.94.

Shake Shack Price Performance

Shares of NYSE SHAK opened at $116.49 on Monday. The company’s fifty day moving average is $112.08 and its two-hundred day moving average is $100.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. The firm has a market capitalization of $4.95 billion, a P/E ratio of 685.24, a PEG ratio of 2.78 and a beta of 1.81. Shake Shack has a one year low of $59.92 and a one year high of $134.90.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SHAK. Neo Ivy Capital Management bought a new position in Shake Shack in the 3rd quarter worth $142,000. Geode Capital Management LLC lifted its holdings in shares of Shake Shack by 3.1% during the third quarter. Geode Capital Management LLC now owns 876,380 shares of the company’s stock worth $90,470,000 after buying an additional 26,620 shares during the last quarter. State Street Corp boosted its position in shares of Shake Shack by 3.5% in the third quarter. State Street Corp now owns 1,452,736 shares of the company’s stock valued at $149,937,000 after acquiring an additional 49,324 shares during the period. Point72 DIFC Ltd grew its stake in shares of Shake Shack by 20.0% in the third quarter. Point72 DIFC Ltd now owns 6,906 shares of the company’s stock worth $713,000 after acquiring an additional 1,153 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in Shake Shack by 154.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock valued at $67,157,000 after purchasing an additional 395,311 shares during the last quarter. Institutional investors own 86.07% of the company’s stock.

Insider Activity

In related news, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $110.08, for a total value of $1,100,800.00. Following the completion of the sale, the director now directly owns 460,337 shares of the company’s stock, valued at approximately $50,673,896.96. This represents a 2.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Katherine Irene Fogertey sold 321 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total value of $33,361.53. Following the completion of the transaction, the chief financial officer now owns 36,180 shares in the company, valued at $3,760,187.40. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,433 shares of company stock worth $7,654,856 over the last 90 days. 9.73% of the stock is currently owned by company insiders.

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.