Q3 2024 Earnings Forecast for Shake Shack Inc. (NYSE:SHAK) Issued By William Blair

Shake Shack Inc. (NYSE:SHAK) – Equities researchers at William Blair boosted their Q3 2024 earnings per share estimates for shares of Shake Shack in a research note issued to investors on Thursday, May 2nd. William Blair analyst S. Zackfia now expects that the company will post earnings of $0.23 per share for the quarter, up from their previous estimate of $0.20. The consensus estimate for Shake Shack’s current full-year earnings is $0.72 per share. William Blair also issued estimates for Shake Shack’s Q4 2024 earnings at $0.05 EPS, FY2024 earnings at $0.65 EPS and FY2025 earnings at $0.95 EPS.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The firm had revenue of $290.50 million during the quarter, compared to the consensus estimate of $291.00 million. Shake Shack had a return on equity of 4.86% and a net margin of 2.08%. The company’s revenue was up 14.7% on a year-over-year basis. During the same period last year, the company earned ($0.01) earnings per share.

SHAK has been the subject of several other reports. StockNews.com cut shares of Shake Shack from a “hold” rating to a “sell” rating in a report on Monday, March 4th. TD Cowen reissued a “buy” rating and set a $125.00 price target on shares of Shake Shack in a report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price objective on Shake Shack from $65.00 to $100.00 and gave the stock an “underweight” rating in a report on Monday, March 4th. BTIG Research upped their price objective on Shake Shack from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Monday. Finally, UBS Group upped their price target on shares of Shake Shack from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $98.24.

Shake Shack Stock Down 1.7 %

Shake Shack stock opened at $105.59 on Monday. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 191.99, a PEG ratio of 3.79 and a beta of 1.78. The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 0.52. Shake Shack has a 12 month low of $52.79 and a 12 month high of $111.29. The stock has a fifty day simple moving average of $102.46 and a two-hundred day simple moving average of $81.12.

Institutional Investors Weigh In On Shake Shack

Institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in Shake Shack during the 1st quarter valued at $25,000. GAMMA Investing LLC purchased a new position in Shake Shack in the fourth quarter valued at about $32,000. Ramirez Asset Management Inc. bought a new position in Shake Shack in the third quarter worth about $35,000. C M Bidwell & Associates Ltd. lifted its position in shares of Shake Shack by 122.6% during the third quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company’s stock valued at $65,000 after buying an additional 612 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Shake Shack in the 1st quarter valued at about $97,000. 86.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Daniel Harris Meyer sold 23,966 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $100.13, for a total value of $2,399,715.58. Following the completion of the transaction, the director now owns 526,471 shares of the company’s stock, valued at approximately $52,715,541.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Daniel Harris Meyer sold 23,966 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $100.13, for a total value of $2,399,715.58. Following the sale, the director now owns 526,471 shares of the company’s stock, valued at $52,715,541.23. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $103.01, for a total transaction of $31,315.04. Following the transaction, the director now directly owns 3,754 shares of the company’s stock, valued at $386,699.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,608 shares of company stock worth $10,178,861. Insiders own 10.06% 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.