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

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

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data 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. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. The company had revenue of $290.50 million during the quarter, compared to analysts’ expectations of $291.00 million. During the same period in the prior year, the company posted ($0.01) earnings per share. Shake Shack’s revenue for the quarter was up 14.7% compared to the same quarter last year.

Several other brokerages have also issued reports on SHAK. BTIG Research increased their target price on shares of Shake Shack from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com lowered shares of Shake Shack from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. TD Cowen reissued a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research note on Thursday, May 2nd. Morgan Stanley increased their target price on shares of Shake Shack from $88.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Finally, Wedbush increased their target price on shares of Shake Shack from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $98.24.

Shake Shack Trading Down 0.5 %

SHAK opened at $105.08 on Monday. Shake Shack has a twelve month low of $52.79 and a twelve month high of $111.29. The company has a quick ratio of 1.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average of $102.51 and a 200-day moving average of $81.47. The stock has a market cap of $4.45 billion, a PE ratio of 191.06, a price-to-earnings-growth ratio of 3.79 and a beta of 1.78.

Insider Activity at Shake Shack

In related news, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $386,699.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction dated 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 owns 3,754 shares in the company, valued at $386,699.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the director now owns 480,437 shares of the company’s stock, valued at approximately $51,089,670.58. The disclosure for this sale can be found here. Insiders have sold 100,608 shares of company stock valued at $10,178,861 over the last ninety days. Corporate insiders own 10.06% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

Hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new position in Shake Shack during the third quarter valued at approximately $1,700,000. Raymond James Financial Services Advisors Inc. increased its position in Shake Shack by 60.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 77,901 shares of the company’s stock valued at $5,774,000 after purchasing an additional 29,431 shares during the period. California Public Employees Retirement System grew its position in shares of Shake Shack by 14.6% in the 3rd quarter. California Public Employees Retirement System now owns 67,466 shares of the company’s stock worth $3,918,000 after buying an additional 8,615 shares during the period. Aigen Investment Management LP purchased a new stake in shares of Shake Shack in the 3rd quarter worth about $216,000. Finally, Campbell & CO Investment Adviser LLC grew its position in shares of Shake Shack by 1,816.5% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 80,339 shares of the company’s stock worth $4,665,000 after buying an additional 76,147 shares during the period. Hedge funds and other institutional investors own 86.07% of the company’s stock.

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.