Shake Shack (SHAK) to Release Quarterly Earnings on Wednesday

Shake Shack (NYSE:SHAK) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.19 per share for the quarter. Shake Shack has set its Q3 2024 guidance at EPS and its FY 2024 guidance at EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. The business had revenue of $316.50 million during the quarter, compared to the consensus estimate of $314.37 million. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS. On average, analysts expect Shake Shack to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shake Shack Trading Up 1.1 %

Shake Shack stock opened at $110.45 on Monday. The business has a 50-day simple moving average of $104.82 and a two-hundred day simple moving average of $98.10. The company has a market cap of $4.67 billion, a P/E ratio of 200.82, a P/E/G ratio of 3.21 and a beta of 1.83. Shake Shack has a 52-week low of $54.06 and a 52-week high of $113.50. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.51.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Piper Sandler downgraded Shake Shack from an “overweight” rating to a “neutral” rating and cut their price target for the company from $121.00 to $114.00 in a research note on Monday, August 19th. Robert W. Baird boosted their price target on Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Barclays boosted their price objective on Shake Shack from $110.00 to $115.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Truist Financial reiterated a “buy” rating and set a $127.00 price objective on shares of Shake Shack in a research note on Wednesday, August 28th. Finally, Wedbush reiterated a “neutral” rating and set a $90.00 price objective on shares of Shake Shack in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $107.67.

Insider Buying and Selling

In related news, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 460,337 shares of the company’s stock, valued at approximately $50,673,896.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 460,337 shares of the company’s stock, valued at approximately $50,673,896.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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 directly owns 36,180 shares in the company, valued at approximately $3,760,187.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,330 shares of company stock valued at $2,429,690. 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.