The Cheesecake Factory Incorporated Forecasted to Post Q3 2024 Earnings of $0.43 Per Share (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Stock analysts at William Blair raised their Q3 2024 earnings estimates for shares of Cheesecake Factory in a report issued on Wednesday, April 24th. William Blair analyst S. Zackfia now anticipates that the restaurant operator will post earnings of $0.43 per share for the quarter, up from their previous forecast of $0.40. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.06 per share. William Blair also issued estimates for Cheesecake Factory’s Q4 2024 earnings at $0.97 EPS.

CAKE has been the topic of a number of other reports. Stephens reiterated an “overweight” rating and set a $44.00 price target on shares of Cheesecake Factory in a research report on Friday, April 12th. Piper Sandler lifted their price target on shares of Cheesecake Factory from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. downgraded shares of Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 price target on the stock. in a research note on Tuesday, January 23rd. Barclays raised their target price on shares of Cheesecake Factory from $32.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, February 22nd. Finally, Wedbush restated an “outperform” rating and issued a $40.00 target price on shares of Cheesecake Factory in a report on Wednesday, April 10th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $35.64.

Cheesecake Factory Price Performance

NASDAQ CAKE opened at $35.36 on Friday. The company has a market cap of $1.80 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. Cheesecake Factory has a 52 week low of $28.58 and a 52 week high of $38.19. The company has a quick ratio of 0.37, a current ratio of 0.46 and a debt-to-equity ratio of 1.48. The firm’s 50-day simple moving average is $35.31 and its two-hundred day simple moving average is $33.74.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The firm had revenue of $877.00 million for the quarter, compared to the consensus estimate of $876.17 million. Cheesecake Factory had a net margin of 2.95% and a return on equity of 41.66%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. 1492 Capital Management LLC raised its holdings in Cheesecake Factory by 0.9% during the 4th quarter. 1492 Capital Management LLC now owns 32,015 shares of the restaurant operator’s stock valued at $1,121,000 after buying an additional 293 shares during the period. Swiss National Bank increased its stake in Cheesecake Factory by 0.4% in the third quarter. Swiss National Bank now owns 107,200 shares of the restaurant operator’s stock worth $3,248,000 after purchasing an additional 400 shares during the period. Simplicity Solutions LLC increased its stake in Cheesecake Factory by 3.4% in the third quarter. Simplicity Solutions LLC now owns 13,081 shares of the restaurant operator’s stock worth $396,000 after purchasing an additional 436 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Cheesecake Factory by 2.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,642 shares of the restaurant operator’s stock worth $656,000 after purchasing an additional 487 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in Cheesecake Factory by 48.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,566 shares of the restaurant operator’s stock worth $55,000 after purchasing an additional 511 shares during the period. 94.48% of the stock is currently owned by institutional investors.

Cheesecake Factory Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, March 6th were paid a dividend of $0.27 per share. The ex-dividend date was Tuesday, March 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.05%. Cheesecake Factory’s dividend payout ratio (DPR) is presently 52.43%.

About Cheesecake Factory

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.