Q1 2024 EPS Estimates for The Cheesecake Factory Incorporated (NASDAQ:CAKE) Raised by Analyst

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Analysts at Wedbush raised their Q1 2024 earnings estimates for shares of Cheesecake Factory in a research report issued to clients and investors on Thursday, May 2nd. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings of $0.64 per share for the quarter, up from their previous estimate of $0.61. Wedbush currently has a “Outperform” rating and a $40.00 target price on the stock. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.06 per share. Wedbush also issued estimates for Cheesecake Factory’s Q3 2024 earnings at $0.49 EPS.

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

A number of other research firms have also recently issued reports on CAKE. JPMorgan Chase & Co. cut Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 price target for the company. in a report on Tuesday, January 23rd. Barclays increased their price target on shares of Cheesecake Factory from $32.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, February 22nd. Piper Sandler boosted their price objective on shares of Cheesecake Factory from $33.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Oppenheimer reiterated a “market perform” rating on shares of Cheesecake Factory in a research report on Thursday, February 22nd. Finally, Stephens reaffirmed an “overweight” rating and set a $44.00 price target on shares of Cheesecake Factory in a research note on Friday, April 12th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Cheesecake Factory has an average rating of “Hold” and a consensus price target of $34.60.

Cheesecake Factory Trading Up 2.9 %

CAKE stock opened at $34.63 on Monday. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.46 and a quick ratio of 0.37. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 1.12 and a beta of 1.48. The business has a fifty day moving average price of $35.21 and a 200 day moving average price of $33.92. Cheesecake Factory has a fifty-two week low of $28.58 and a fifty-two week high of $38.19.

Hedge Funds Weigh In On Cheesecake Factory

Several institutional investors and hedge funds have recently made changes to their positions in the company. South Dakota Investment Council acquired a new stake in Cheesecake Factory during the 4th quarter worth approximately $844,000. Envestnet Asset Management Inc. lifted its position in Cheesecake Factory by 46.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 411,017 shares of the restaurant operator’s stock valued at $12,454,000 after acquiring an additional 131,295 shares in the last quarter. Advisors Preferred LLC bought a new stake in Cheesecake Factory in the 4th quarter valued at $2,335,000. IPG Investment Advisors LLC acquired a new position in Cheesecake Factory in the 3rd quarter worth $2,246,000. Finally, Vanguard Group Inc. increased its holdings in 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 purchasing an additional 22,099 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Cheesecake Factory Dividend Announcement

The company 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. This represents a $1.08 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Tuesday, March 5th. 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.