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

Shake Shack Inc. (NYSE:SHAK) – Research analysts at Wedbush boosted their Q2 2024 EPS estimates for Shake Shack in a research report issued on Friday, April 26th. Wedbush analyst N. Setyan now expects that the company will earn $0.27 per share for the quarter, up from their previous estimate of $0.25. Wedbush has a “Neutral” rating and a $80.00 price objective 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 brokerages have also issued reports on SHAK. Truist Financial upped their target price on shares of Shake Shack from $112.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. StockNews.com lowered shares of Shake Shack from a “hold” rating to a “sell” rating in a research report on Monday, March 4th. Robert W. Baird upped their target price on shares of Shake Shack from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Raymond James increased their price objective on shares of Shake Shack from $90.00 to $115.00 and gave the company a “strong-buy” rating in a report on Friday, February 16th. Finally, Morgan Stanley increased their price objective on shares of Shake Shack from $88.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $88.67.

Shake Shack Price Performance

Shares of 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 firm’s 50 day moving average is $101.55 and its 200-day moving average is $78.83. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 228.00, a PEG ratio of 3.78 and a beta of 1.80. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.52.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Shake Shack

Large investors have recently made changes to their positions in the stock. CWM LLC grew its position in Shake Shack by 37.4% in the third quarter. CWM LLC now owns 1,349 shares of the company’s stock valued at $78,000 after purchasing an additional 367 shares in the last quarter. SG Americas Securities LLC grew its position in Shake Shack by 6.9% in the third quarter. SG Americas Securities LLC now owns 3,747 shares of the company’s stock valued at $218,000 after purchasing an additional 243 shares in the last quarter. DAVENPORT & Co LLC grew its position in Shake Shack by 8.9% in the third quarter. DAVENPORT & Co LLC now owns 9,939 shares of the company’s stock valued at $577,000 after purchasing an additional 814 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in Shake Shack in the third quarter valued at $253,000. Finally, Commonwealth Equity Services LLC grew its position in Shake Shack by 5.7% in the third quarter. Commonwealth Equity Services LLC now owns 4,560 shares of the company’s stock valued at $265,000 after purchasing an additional 247 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

Shake Shack Company Profile

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.