Wedbush Weighs in on Shake Shack Inc.’s Q2 2024 Earnings (NYSE:SHAK)

Shake Shack Inc. (NYSE:SHAK) – Research analysts at Wedbush upped their Q2 2024 earnings per share estimates for Shake Shack in a research note issued on Friday, April 26th. Wedbush analyst N. Setyan now anticipates that the company will earn $0.27 per share for the quarter, up from their prior estimate of $0.25. Wedbush currently has a “Neutral” rating and a $80.00 target price 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.

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

Other research analysts also recently issued reports about the company. Truist Financial upped their price target on Shake Shack from $112.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Robert W. Baird lifted their price target on shares of Shake Shack from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. StockNews.com downgraded shares of Shake Shack from a “hold” rating to a “sell” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. raised their target price on shares of Shake Shack from $65.00 to $100.00 and gave the stock an “underweight” rating in a report on Monday, March 4th. Finally, BTIG Research boosted their target price on shares of Shake Shack from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $88.67.

Shake Shack Price Performance

Shares of NYSE SHAK opened at $105.80 on Monday. The company has a 50 day moving average of $101.55 and a 200 day moving average of $78.98. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.52. Shake Shack has a twelve month low of $52.64 and a twelve month high of $110.90. The firm has a market cap of $4.48 billion, a P/E ratio of 230.00, a PEG ratio of 3.78 and a beta of 1.80.

Insider Activity

In related news, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $108.05, for a total value of $32,847.20. Following the completion of the transaction, the director now owns 4,058 shares of the company’s stock, valued at approximately $438,466.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $108.05, for a total transaction of $32,847.20. Following the completion of the transaction, the director now owns 4,058 shares in the company, valued at $438,466.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $95.25, for a total value of $2,857,500.00. Following the completion of the sale, the director now directly owns 550,437 shares in the company, valued at $52,429,124.25. The disclosure for this sale can be found here. Insiders have sold 100,760 shares of company stock worth $10,190,420 in the last three months. Company insiders own 10.06% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SHAK. Allspring Global Investments Holdings LLC bought a new position in Shake Shack during the 1st quarter valued at about $25,000. GAMMA Investing LLC purchased a new position in shares of Shake Shack in the 4th quarter valued at $32,000. Ramirez Asset Management Inc. purchased a new position in Shake Shack in the third quarter valued at about $35,000. C M Bidwell & Associates Ltd. raised its stake in shares of Shake Shack by 122.6% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company’s stock worth $65,000 after acquiring an additional 612 shares in the last quarter. Finally, CWM LLC increased its position in shares of Shake Shack by 37.4% during the third quarter. CWM LLC now owns 1,349 shares of the company’s stock worth $78,000 after purchasing an additional 367 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.