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

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Analysts at William Blair raised their Q3 2024 EPS estimates for Cheesecake Factory in a research report issued on Wednesday, April 24th. William Blair analyst S. Zackfia now expects 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.

Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, February 21st. The restaurant operator reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.07. The business 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 quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.56 earnings per share.

CAKE has been the topic of several other research reports. Piper Sandler lifted their target price on shares of Cheesecake Factory from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Barclays boosted their price objective 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. Oppenheimer reissued a “market perform” rating on shares of Cheesecake Factory in a report on Thursday, February 22nd. Stephens reissued an “overweight” rating and set a $44.00 price objective on shares of Cheesecake Factory in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. downgraded shares of Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 price objective on the stock. in a report on Tuesday, January 23rd. Three investment 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’s stock. According to MarketBeat, Cheesecake Factory presently has an average rating of “Hold” and an average target price of $35.64.

Cheesecake Factory Stock Up 1.4 %

Shares of NASDAQ:CAKE opened at $35.36 on Friday. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 1.16 and a beta of 1.48. The firm’s 50-day simple moving average is $35.31 and its 200-day simple moving average is $33.76. The company has a quick ratio of 0.37, a current ratio of 0.46 and a debt-to-equity ratio of 1.48. 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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New Century Financial Group LLC acquired a new position in Cheesecake Factory during the first quarter worth about $1,108,000. Allspring Global Investments Holdings LLC raised its position in shares of Cheesecake Factory by 2,360.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 661 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Cheesecake Factory in the fourth quarter valued at approximately $26,000. Seven Eight Capital LP raised its position in shares of Cheesecake Factory by 231.4% in the fourth quarter. Seven Eight Capital LP now owns 30,086 shares of the restaurant operator’s stock valued at $1,053,000 after buying an additional 21,007 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Cheesecake Factory in the fourth quarter valued at approximately $2,532,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Cheesecake Factory Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Tuesday, March 5th. Cheesecake Factory’s payout ratio is currently 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.