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

by · The Cerbat Gem

Shake Shack Inc. (NYSE:SHAK – Free Report) – Stock analysts at Wedbush lifted their FY2024 earnings per share (EPS) estimates for shares of Shake Shack in a report issued on Thursday, October 31st. Wedbush analyst N. Setyan now forecasts that the company will earn $0.80 per share for the year, up from their prior forecast of $0.74. Wedbush has a “Neutral” rating and a $90.00 price objective 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.

SHAK has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $115.00 price target on shares of Shake Shack in a report on Wednesday, August 28th. TD Cowen reissued a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research note on Wednesday, September 18th. Barclays raised their price objective on shares of Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday. Robert W. Baird boosted their target price on shares of Shake Shack from $93.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $127.00 price target on shares of Shake Shack in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $109.06.

Check Out Our Latest Report on Shake Shack

Shake Shack Price Performance

Shares of SHAK opened at $121.67 on Friday. The business has a 50-day moving average of $105.57 and a 200-day moving average of $98.49. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 2.03. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 715.71, a price-to-earnings-growth ratio of 3.58 and a beta of 1.83. Shake Shack has a 1 year low of $54.06 and a 1 year high of $130.20.

Shake Shack (NYSE:SHAK – Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. The business had revenue of $316.92 million for the quarter, compared to the consensus estimate of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The firm’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the company earned $0.17 EPS.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SHAK. Xponance Inc. boosted its position in Shake Shack by 4.5% during the 2nd quarter. Xponance Inc. now owns 2,395 shares of the company’s stock valued at $216,000 after buying an additional 103 shares during the period. Brighton Jones LLC raised its stake in shares of Shake Shack by 1.1% during the second quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock valued at $1,612,000 after acquiring an additional 187 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Shake Shack by 1.9% during the second quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock worth $945,000 after purchasing an additional 196 shares during the period. CWM LLC grew its stake in shares of Shake Shack by 24.7% in the second quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $94,000 after purchasing an additional 207 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in Shake Shack by 1.8% during the 3rd quarter. Amalgamated Bank now owns 11,721 shares of the company’s stock valued at $1,210,000 after purchasing an additional 211 shares during the period. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Insiders Place Their Bets

In other news, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $110.08, for a total transaction of $1,100,800.00. Following the transaction, the director now owns 460,337 shares of the company’s stock, valued at $50,673,896.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total value of $33,361.53. Following the transaction, the chief financial officer now directly owns 36,180 shares in the company, valued at $3,760,187.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $110.08, for a total transaction of $1,100,800.00. Following the completion of the transaction, the director now directly owns 460,337 shares of the company’s stock, valued at approximately $50,673,896.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,367 shares of company stock valued at $2,337,213 over the last ninety days. 9.73% of the stock is currently owned by insiders.

About Shake Shack

(Get Free Report)

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.

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