Q2 2023 EPS Estimates for Shake Shack Inc. (NYSE:SHAK) Increased by Analyst

Shake Shack Inc. (NYSE:SHAKGet Rating) – Equities researchers at William Blair upped their Q2 2023 earnings per share estimates for Shake Shack in a note issued to investors on Wednesday, January 11th. William Blair analyst S. Zackfia now expects that the company will post earnings per share of $0.16 for the quarter, up from their prior forecast of $0.11. The consensus estimate for Shake Shack’s current full-year earnings is ($0.42) per share. William Blair also issued estimates for Shake Shack’s Q3 2023 earnings at $0.00 EPS and FY2024 earnings at $0.29 EPS.

Several other research analysts also recently commented on SHAK. BTIG Research decreased their price objective on Shake Shack from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, November 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on Shake Shack from $53.00 to $56.00 and gave the stock a “hold” rating in a report on Monday, November 7th. Credit Suisse Group decreased their price objective on Shake Shack from $61.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, November 7th. StockNews.com began coverage on Shake Shack in a report on Wednesday, October 12th. They issued a “sell” rating on the stock. Finally, Morgan Stanley cut their target price on Shake Shack from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Shake Shack presently has an average rating of “Hold” and a consensus price target of $58.43.

Shake Shack Stock Up 2.6 %

SHAK opened at $55.09 on Thursday. The company has a market cap of $2.32 billion, a P/E ratio of -93.37 and a beta of 1.58. The business’s 50-day moving average price is $47.95 and its 200-day moving average price is $47.99. The company has a current ratio of 2.54, a quick ratio of 2.51 and a debt-to-equity ratio of 0.57. Shake Shack has a 12 month low of $37.72 and a 12 month high of $79.25.

Shake Shack (NYSE:SHAKGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). Shake Shack had a negative return on equity of 3.52% and a negative net margin of 2.67%. The business had revenue of $227.81 million for the quarter, compared to the consensus estimate of $226.79 million.

Institutional Trading of Shake Shack

A number of hedge funds have recently made changes to their positions in SHAK. Interval Partners LP bought a new stake in shares of Shake Shack in the 3rd quarter worth approximately $19,656,000. Van Berkom & Associates Inc. boosted its position in shares of Shake Shack by 43.7% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,047,116 shares of the company’s stock worth $41,340,000 after purchasing an additional 318,266 shares in the last quarter. Balyasny Asset Management LLC boosted its position in shares of Shake Shack by 61.8% in the 3rd quarter. Balyasny Asset Management LLC now owns 821,070 shares of the company’s stock worth $36,932,000 after purchasing an additional 313,623 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Shake Shack by 5.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,044,682 shares of the company’s stock worth $181,929,000 after purchasing an additional 200,222 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Shake Shack by 2,372.2% in the 2nd quarter. Millennium Management LLC now owns 176,739 shares of the company’s stock worth $6,978,000 after purchasing an additional 169,590 shares in the last quarter. 83.55% of the stock is owned by institutional investors.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, COO Zach Koff sold 3,900 shares of Shake Shack stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $55.00, for a total transaction of $214,500.00. Following the sale, the chief operating officer now directly owns 31,085 shares of the company’s stock, valued at approximately $1,709,675. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 9.98% of the company’s stock.

About Shake Shack

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Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 29, 2021, it operated 369 Shacks, including 218 domestic company-operated Shacks, 25 domestic licensed Shacks, and 126 international licensed Shacks.

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