Shake Shack (NYSE:SHAK) Releases Quarterly Earnings Results

Shake Shack (NYSE:SHAK) released its quarterly earnings data on Thursday. The company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27, Briefing.com reports. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. The firm had revenue of $316.50 million for the quarter, compared to the consensus estimate of $314.37 million. During the same period in the previous year, the company earned $0.18 earnings per share. The company’s quarterly revenue was up 16.4% on a year-over-year basis. Shake Shack updated its Q3 2024 guidance to EPS and its FY 2024 guidance to EPS.

Shake Shack Trading Down 5.8 %

NYSE SHAK traded down $5.98 during trading hours on Friday, reaching $96.43. The company’s stock had a trading volume of 2,512,328 shares, compared to its average volume of 952,773. The firm has a fifty day simple moving average of $88.89 and a 200-day simple moving average of $92.82. The stock has a market cap of $4.08 billion, a P/E ratio of 175.33, a P/E/G ratio of 2.34 and a beta of 1.75. Shake Shack has a 52 week low of $52.79 and a 52 week high of $111.29. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.03 and a quick ratio of 1.99.

Analysts Set New Price Targets

Several equities analysts have commented on SHAK shares. The Goldman Sachs Group upped their price objective on shares of Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday. Morgan Stanley decreased their price target on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Capital One Financial began coverage on shares of Shake Shack in a research note on Monday. They issued an “overweight” rating and a $95.00 price target on the stock. UBS Group upped their price target on shares of Shake Shack from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, Robert W. Baird upped their price target on shares of Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Shake Shack has an average rating of “Hold” and an average price target of $103.05.

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.