The Cheesecake Factory Incorporated Expected to Earn Q2 2024 Earnings of $1.06 Per Share (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Wedbush lifted their Q2 2024 earnings per share (EPS) estimates for Cheesecake Factory in a research report issued on Thursday, May 2nd. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings per share of $1.06 for the quarter, up from their prior forecast of $1.05. 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 Q4 2024 earnings at $0.98 EPS, Q1 2025 earnings at $0.79 EPS, Q2 2025 earnings at $1.15 EPS, Q3 2025 earnings at $0.59 EPS and Q4 2025 earnings at $1.15 EPS.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $0.80 EPS for the quarter, beating the consensus estimate 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 company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 earnings per share.

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

Cheesecake Factory Stock Performance

NASDAQ:CAKE opened at $33.67 on Friday. The stock has a 50 day simple moving average of $35.26 and a 200 day simple moving average of $33.86. The stock has a market cap of $1.72 billion, a P/E ratio of 16.34, a PEG ratio of 1.12 and a beta of 1.48. Cheesecake Factory has a 1-year low of $28.58 and a 1-year high of $38.19. The company has a current ratio of 0.46, a quick ratio of 0.37 and a debt-to-equity ratio of 1.48.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CAKE. Allspring Global Investments Holdings LLC lifted its stake in shares of Cheesecake Factory by 2,360.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 661 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in Cheesecake Factory in the fourth quarter valued at about $26,000. Studio Investment Management LLC acquired a new stake in shares of Cheesecake Factory during the third quarter valued at about $25,000. Quadrant Capital Group LLC grew its holdings in shares of Cheesecake Factory by 48.4% during 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 last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Cheesecake Factory in the third quarter valued at approximately $70,000. Institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, March 6th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend was Tuesday, March 5th. 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.