Q3 2024 EPS Estimates for Shake Shack Inc. Boosted by William Blair (NYSE:SHAK)

Shake Shack Inc. (NYSE:SHAK) – Stock analysts at William Blair increased their Q3 2024 earnings per share estimates for 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 per share of $0.23 for the quarter, up from their previous forecast 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.

Several other brokerages also recently weighed in on SHAK. Oppenheimer raised their target price on Shake Shack from $108.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Morgan Stanley lifted their price target on Shake Shack from $88.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Robert W. Baird lifted their target price on Shake Shack from $102.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. StockNews.com downgraded Shake Shack from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. Finally, Wedbush lifted their price target on Shake Shack from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Shake Shack presently has a consensus rating of “Hold” and an average target price of $98.24.

Shake Shack Trading Down 0.5 %

Shares of SHAK opened at $105.08 on Monday. The stock’s fifty day simple moving average is $102.51 and its 200 day simple moving average is $81.47. 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 twelve month low of $52.79 and a twelve month high of $111.29. The firm has a market capitalization of $4.45 billion, a P/E ratio of 191.06, a price-to-earnings-growth ratio of 3.79 and a beta of 1.78.

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

Hedge Funds Weigh In On Shake Shack

Several institutional investors and hedge funds have recently modified their holdings of the stock. 12 West Capital Management LP lifted its position in Shake Shack by 82.2% during the 3rd quarter. 12 West Capital Management LP now owns 1,659,600 shares of the company’s stock worth $96,373,000 after acquiring an additional 748,789 shares during the last quarter. Van Berkom & Associates Inc. grew its stake in Shake Shack by 19.3% during the third quarter. Van Berkom & Associates Inc. now owns 1,046,339 shares of the company’s stock worth $60,761,000 after buying an additional 168,947 shares during the last quarter. Linonia Partnership LP bought a new stake in Shake Shack during the fourth quarter worth about $41,046,000. Qube Research & Technologies Ltd grew its stake in Shake Shack by 130.0% during the third quarter. Qube Research & Technologies Ltd now owns 436,888 shares of the company’s stock worth $25,370,000 after buying an additional 246,952 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Shake Shack by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 309,641 shares of the company’s stock valued at $22,951,000 after purchasing an additional 12,362 shares during the last quarter. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $103.01, for a total value of $31,315.04. Following the transaction, the director now owns 3,754 shares of the company’s stock, valued at $386,699.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Shake Shack news, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction that occurred 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 transaction, the director now directly owns 3,754 shares in the company, valued at approximately $386,699.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel Harris Meyer sold 23,966 shares of Shake Shack stock in a transaction that occurred 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 transaction, the director now owns 526,471 shares in the company, valued at $52,715,541.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,608 shares of company stock valued at $10,178,861. Corporate insiders own 10.06% 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.