Equities Analysts Offer Predictions for Shake Shack Inc.’s FY2022 Earnings (NYSE:SHAK)

Shake Shack Inc. (NYSE:SHAKGet Rating) – Equities research analysts at Jefferies Financial Group upped their FY2022 earnings estimates for shares of Shake Shack in a note issued to investors on Wednesday, January 11th. Jefferies Financial Group analyst A. Barish now expects that the company will earn ($0.35) per share for the year, up from their previous forecast of ($0.45). The consensus estimate for Shake Shack’s current full-year earnings is ($0.39) per share. Jefferies Financial Group also issued estimates for Shake Shack’s Q4 2022 earnings at ($0.10) EPS, Q1 2023 earnings at ($0.11) EPS, Q2 2023 earnings at $0.04 EPS, Q3 2023 earnings at ($0.02) EPS, Q4 2023 earnings at ($0.09) EPS and FY2023 earnings at ($0.18) EPS.

Other equities analysts also recently issued reports about the stock. Barclays cut their price target on shares of Shake Shack from $46.00 to $42.00 and set an “equal weight” rating on the stock in a report on Thursday, January 5th. StockNews.com started coverage on shares of Shake Shack in a report on Wednesday, October 12th. They issued a “sell” rating on the stock. Wedbush downgraded shares of Shake Shack from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $58.00 to $49.00 in a report on Wednesday, December 21st. Credit Suisse Group cut their price target on shares of Shake Shack from $61.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, November 7th. Finally, Morgan Stanley cut their price target on shares of Shake Shack from $52.00 to $50.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $58.43.

Shake Shack Stock Performance

NYSE SHAK opened at $56.36 on Monday. Shake Shack has a 1 year low of $37.72 and a 1 year high of $79.25. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 2.51. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -95.53 and a beta of 1.58. The company has a fifty day moving average price of $48.14 and a 200-day moving average price of $48.21.

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

Institutional Investors Weigh In On Shake Shack

Several hedge funds and other institutional investors have recently modified their holdings of SHAK. Raymond James & Associates increased its position in shares of Shake Shack by 96.3% during the first quarter. Raymond James & Associates now owns 22,358 shares of the company’s stock valued at $1,518,000 after buying an additional 10,967 shares during the period. Bank of Montreal Can increased its position in shares of Shake Shack by 22.8% in the first quarter. Bank of Montreal Can now owns 16,446 shares of the company’s stock worth $1,118,000 after purchasing an additional 3,054 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Shake Shack by 54.5% in the first quarter. MetLife Investment Management LLC now owns 20,457 shares of the company’s stock worth $1,389,000 after purchasing an additional 7,216 shares during the last quarter. Rhumbline Advisers increased its position in shares of Shake Shack by 6.7% in the first quarter. Rhumbline Advisers now owns 95,267 shares of the company’s stock worth $6,469,000 after purchasing an additional 5,985 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Shake Shack by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,742 shares of the company’s stock worth $2,291,000 after purchasing an additional 4,160 shares during the last quarter. 83.55% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Zach Koff sold 3,900 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,709,675. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 9.98% of the company’s stock.

About Shake Shack

(Get Rating)

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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Earnings History and Estimates for Shake Shack (NYSE:SHAK)

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