What is Wedbush’s Estimate for Shake Shack FY2024 Earnings?

Shake Shack Inc. (NYSE:SHAK) – Equities research analysts at Wedbush raised their FY2024 earnings estimates for Shake Shack in a research report issued on Thursday, October 31st. Wedbush analyst N. Setyan now forecasts that the company will post earnings of $0.80 per share for the year, up from their prior estimate of $0.74. Wedbush currently has a “Neutral” rating and a $90.00 price target on the stock. The consensus estimate for Shake Shack’s current full-year earnings is $0.74 per share. Wedbush also issued estimates for Shake Shack’s Q4 2024 earnings at $0.15 EPS, Q1 2025 earnings at $0.26 EPS, Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.36 EPS, Q4 2025 earnings at $0.24 EPS and FY2025 earnings at $1.21 EPS.

A number of other research firms also recently commented on SHAK. Oppenheimer lifted their price objective on shares of Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Capital One Financial initiated coverage on shares of Shake Shack in a report on Monday, July 29th. They issued an “overweight” rating and a $95.00 price objective for the company. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $102.00 price objective (down previously from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. TD Cowen reissued a “buy” rating and set a $125.00 price target on shares of Shake Shack in a report on Wednesday, September 18th. Finally, Truist Financial boosted their price target on shares of Shake Shack from $127.00 to $144.00 and gave the company a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $110.00.

Shake Shack Stock Performance

Shake Shack stock opened at $124.10 on Friday. The company has a market cap of $5.27 billion, a PE ratio of 728.76, a P/E/G ratio of 3.58 and a beta of 1.83. The company has a fifty day moving average price of $105.87 and a two-hundred day moving average price of $98.65. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 2.03. Shake Shack has a 12 month low of $54.06 and a 12 month high of $130.20.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $316.92 million during the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 earnings per share.

Insider Buying and Selling

In related news, Director Daniel Harris Meyer sold 22,691 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total value of $2,824,348.77. Following the completion of the sale, the director now owns 437,646 shares of the company’s stock, valued at $54,473,797.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $95.10, for a total value of $30,527.10. Following the sale, the chief financial officer now directly owns 37,143 shares in the company, valued at approximately $3,532,299.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel Harris Meyer sold 22,691 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $124.47, for a total transaction of $2,824,348.77. Following the completion of the sale, the director now owns 437,646 shares in the company, valued at approximately $54,473,797.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,058 shares of company stock valued at $5,161,562 over the last 90 days. 9.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Shake Shack

Several hedge funds and other institutional investors have recently bought and sold shares of SHAK. Allspring Global Investments Holdings LLC bought a new stake in Shake Shack in the first quarter worth about $25,000. Commonwealth Equity Services LLC raised its holdings in Shake Shack by 71.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 7,973 shares of the company’s stock worth $829,000 after buying an additional 3,313 shares during the period. BNP Paribas Financial Markets raised its holdings in Shake Shack by 7.8% during the 1st quarter. BNP Paribas Financial Markets now owns 41,487 shares of the company’s stock worth $4,316,000 after buying an additional 2,996 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Shake Shack during the 1st quarter worth about $853,000. Finally, Hussman Strategic Advisors Inc. acquired a new stake in Shake Shack during the 1st quarter worth about $655,000. 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.