Zacks Research Comments on Shake Shack Inc.’s Q3 2024 Earnings (NYSE:SHAK)

Shake Shack Inc. (NYSE:SHAK) – Equities researchers at Zacks Research dropped their Q3 2024 earnings estimates for shares of Shake Shack in a note issued to investors on Wednesday, August 14th. Zacks Research analyst H. Ray now expects that the company will post earnings per share of $0.21 for the quarter, down from their previous forecast of $0.23. The consensus estimate for Shake Shack’s current full-year earnings is $0.73 per share. Zacks Research also issued estimates for Shake Shack’s Q4 2024 earnings at $0.11 EPS, FY2024 earnings at $0.72 EPS, Q1 2025 earnings at $0.15 EPS, Q2 2025 earnings at $0.37 EPS, Q4 2025 earnings at $0.21 EPS, FY2025 earnings at $0.99 EPS, Q1 2026 earnings at $0.22 EPS, Q2 2026 earnings at $0.39 EPS and FY2026 earnings at $1.23 EPS.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, August 1st. The company reported $0.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.27. The business had revenue of $316.50 million for the quarter, compared to the consensus estimate of $314.37 million. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share.

A number of other research analysts also recently weighed in on SHAK. Capital One Financial began coverage on Shake Shack in a research note on Monday, July 29th. They set an “overweight” rating and a $95.00 price target on the stock. TD Cowen restated a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a research note on Thursday, August 1st. Bank of America cut their price objective on shares of Shake Shack from $116.00 to $96.00 and set a “neutral” rating for the company in a report on Wednesday, July 17th. JPMorgan Chase & Co. lifted their target price on Shake Shack from $102.00 to $105.00 and gave the company an “underweight” rating in a report on Monday, June 3rd. Finally, Wedbush reiterated a “neutral” rating and issued a $90.00 price objective on shares of Shake Shack in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $104.83.

Shake Shack Stock Performance

NYSE:SHAK opened at $107.37 on Friday. The stock’s 50-day moving average is $90.43 and its 200-day moving average is $95.25. The stock has a market cap of $4.56 billion, a P/E ratio of 195.22, a price-to-earnings-growth ratio of 3.18 and a beta of 1.75. Shake Shack has a 1-year low of $52.79 and a 1-year high of $111.29. The company has a current ratio of 2.06, a quick ratio of 2.03 and a debt-to-equity ratio of 0.51.

Institutional Trading of Shake Shack

A number of hedge funds have recently made changes to their positions in the stock. Madison Asset Management LLC increased its stake in Shake Shack by 52.6% in the 4th quarter. Madison Asset Management LLC now owns 84,062 shares of the company’s stock worth $6,231,000 after purchasing an additional 28,975 shares in the last quarter. Virtu Financial LLC bought a new position in Shake Shack in the first quarter worth $653,000. Lisanti Capital Growth LLC acquired a new stake in Shake Shack during the fourth quarter valued at approximately $2,784,000. Janney Montgomery Scott LLC acquired a new position in Shake Shack during the first quarter worth $853,000. Finally, Jennison Associates LLC bought a new stake in Shake Shack during the first quarter worth about $16,365,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

Insider Transactions at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $95.10, for a total transaction of $30,527.10. Following the transaction, the chief financial officer now owns 37,143 shares in the company, valued at approximately $3,532,299.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $95.10, for a total transaction of $30,527.10. Following the transaction, the chief financial officer now owns 37,143 shares in the company, valued at approximately $3,532,299.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey Flug sold 304 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $90.39, for a total value of $27,478.56. Following the sale, the director now directly owns 3,347 shares in the company, valued at approximately $302,535.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,892 shares of company stock worth $177,134. 9.73% of the stock is currently owned by insiders.

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.