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

Shake Shack Inc. (NYSE:SHAK) – Stock analysts at William Blair upped their Q3 2024 earnings per share (EPS) estimates for Shake Shack in a research note issued on Thursday, May 2nd. William Blair analyst S. Zackfia now anticipates that the company will post earnings per share of $0.23 for the quarter, up from their prior 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.

Other research analysts have also recently issued research reports about the company. Raymond James raised their price target on Shake Shack from $90.00 to $115.00 and gave the company a “strong-buy” rating in a research report on Friday, February 16th. BTIG Research lifted their target price on shares of Shake Shack from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Morgan Stanley upped their price target on shares of Shake Shack from $88.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. TD Cowen reissued a “buy” rating and set a $125.00 price objective on shares of Shake Shack in a research note on Thursday. Finally, Barclays upped their target price on Shake Shack from $92.00 to $108.00 and gave the company an “equal weight” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Shake Shack currently has a consensus rating of “Hold” and an average target price of $97.94.

Shake Shack Stock Performance

NYSE:SHAK opened at $107.47 on Monday. The firm’s fifty day simple moving average is $102.37 and its 200-day simple moving average is $80.77. The company has a quick ratio of 2.01, a current ratio of 2.03 and a debt-to-equity ratio of 0.52. The stock has a market cap of $4.55 billion, a PE ratio of 195.40, a price-to-earnings-growth ratio of 3.80 and a beta of 1.78. Shake Shack has a fifty-two week low of $52.79 and a fifty-two week high of $110.90.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The company 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 firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.01) EPS.

Insider Activity

In other news, Director Daniel Harris Meyer sold 40,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $106.34, for a total transaction of $4,253,600.00. Following the completion of the sale, the director now directly owns 480,437 shares in the company, valued at $51,089,670.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Daniel Harris Meyer sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $106.34, for a total transaction of $4,253,600.00. Following the completion of the sale, the director now owns 480,437 shares of the company’s stock, valued at $51,089,670.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 3,754 shares in the company, valued at $386,699.54. The disclosure for this sale can be found here. Insiders have sold 100,608 shares of company stock worth $10,178,861 over the last 90 days. Company insiders own 10.06% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

Several large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Shake Shack during the first quarter valued at approximately $25,000. GAMMA Investing LLC bought a new position in Shake Shack during the 4th quarter worth $32,000. Ramirez Asset Management Inc. acquired a new stake in Shake Shack in the third quarter worth $35,000. C M Bidwell & Associates Ltd. increased its position in Shake Shack by 122.6% in the third quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company’s stock worth $65,000 after buying an additional 612 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Shake Shack in the first quarter valued at $97,000. 86.07% of the stock is currently owned by institutional investors.

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.