Shake Shack (NYSE:SHAK) Announces Quarterly Earnings Results, Meets Estimates

Shake Shack (NYSE:SHAK) announced its earnings results on Thursday. The company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27, Briefing.com reports. The firm 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 2.08% and a return on equity of 4.86%. The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. Shake Shack updated its Q3 2024 guidance to EPS and its FY 2024 guidance to EPS.

Shake Shack Price Performance

Shares of NYSE SHAK traded down $5.98 during trading on Friday, reaching $96.43. The company had a trading volume of 2,512,328 shares, compared to its average volume of 952,773. Shake Shack has a 52 week low of $52.79 and a 52 week high of $111.29. The stock has a market cap of $4.08 billion, a PE ratio of 175.33, a PEG ratio of 2.34 and a beta of 1.75. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.99 and a current ratio of 2.03. The business’s 50 day moving average price is $88.89 and its 200-day moving average price is $92.82.

Wall Street Analyst Weigh In

SHAK has been the topic of several recent analyst reports. Wedbush reiterated a “neutral” rating and issued a $90.00 target price on shares of Shake Shack in a report on Thursday. Barclays boosted their price objective on shares of Shake Shack from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Shake Shack from $105.00 to $115.00 and gave the stock a “hold” rating in a report on Friday. The Goldman Sachs Group boosted their price objective on shares of Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday. Finally, BTIG Research boosted their price objective on shares of Shake Shack from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $103.05.

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.