Q1 2024 Earnings Estimate for The Cheesecake Factory Incorporated (NASDAQ:CAKE) Issued By William Blair

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Investment analysts at William Blair boosted their Q1 2024 earnings estimates for Cheesecake Factory in a report issued on Wednesday, April 24th. William Blair analyst S. Zackfia now expects that the restaurant operator will post earnings of $0.64 per share for the quarter, up from their previous forecast of $0.63. 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 Q2 2024 earnings at $1.05 EPS, FY2024 earnings at $3.09 EPS and FY2025 earnings at $3.51 EPS.

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

Several other brokerages have also issued reports on CAKE. Oppenheimer reissued a “market perform” rating on shares of Cheesecake Factory in a research note on Thursday, February 22nd. Barclays increased their price objective on shares of Cheesecake Factory from $32.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday, February 22nd. Piper Sandler boosted their target price on Cheesecake Factory from $33.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Wedbush reiterated an “outperform” rating and issued a $40.00 price target on shares of Cheesecake Factory in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. cut Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 price objective for the company. in a research note on Tuesday, January 23rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $35.64.

Cheesecake Factory Price Performance

Cheesecake Factory stock opened at $34.75 on Monday. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 16.87, a PEG 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 debt-to-equity ratio of 1.48, a quick ratio of 0.37 and a current ratio of 0.46. The stock’s 50 day moving average price is $35.31 and its two-hundred day moving average price is $33.83.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Cheesecake Factory by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 5,568,464 shares of the restaurant operator’s stock worth $168,724,000 after buying an additional 22,099 shares in the last quarter. William Blair Investment Management LLC boosted its position in Cheesecake Factory by 2.8% in the third quarter. William Blair Investment Management LLC now owns 646,861 shares of the restaurant operator’s stock worth $19,600,000 after purchasing an additional 17,521 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Cheesecake Factory by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 559,492 shares of the restaurant operator’s stock valued at $19,588,000 after purchasing an additional 13,352 shares during the period. Natixis Advisors L.P. increased its position in shares of Cheesecake Factory by 8.6% during the 4th quarter. Natixis Advisors L.P. now owns 529,375 shares of the restaurant operator’s stock valued at $18,533,000 after purchasing an additional 41,907 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Cheesecake Factory by 2.0% during the 3rd quarter. American Century Companies Inc. now owns 476,762 shares of the restaurant operator’s stock valued at $14,446,000 after purchasing an additional 9,409 shares during the last quarter. 94.48% of the stock is owned by institutional investors.

Cheesecake Factory Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, March 6th were paid a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.08 annualized dividend and a dividend yield of 3.11%. Cheesecake Factory’s payout ratio is 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.