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

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Analysts at Wedbush lifted their Q1 2024 EPS estimates for shares of Cheesecake Factory in a report issued on Thursday, May 2nd. Wedbush analyst N. Setyan now anticipates that the restaurant operator will post earnings of $0.64 per share for the quarter, up from their previous forecast of $0.61. Wedbush currently has a “Outperform” rating and a $40.00 price target 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.

A number of other brokerages have also issued reports on CAKE. Barclays lifted their price target on Cheesecake Factory from $32.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, February 22nd. Stephens reiterated an “overweight” rating and issued a $44.00 price objective on shares of Cheesecake Factory in a report on Friday, April 12th. Oppenheimer restated a “market perform” rating on shares of Cheesecake Factory in a report on Thursday, February 22nd. 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. Finally, Piper Sandler boosted their price objective on Cheesecake Factory from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $34.60.

Cheesecake Factory Stock Down 1.8 %

CAKE opened at $34.02 on Monday. 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 twelve month low of $28.58 and a twelve month high of $38.19. The company has a market cap of $1.74 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 1.12 and a beta of 1.48. The company has a 50-day moving average price of $35.16 and a 200 day moving average price of $33.97.

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

Cheesecake Factory Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders 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 3.17%. The ex-dividend date of this dividend was Tuesday, March 5th. Cheesecake Factory’s dividend payout ratio (DPR) is presently 52.43%.

Hedge Funds Weigh In On Cheesecake Factory

Hedge funds have recently made changes to their positions in the stock. Studio Investment Management LLC acquired a new stake in shares of Cheesecake Factory during the third quarter worth about $25,000. Allspring Global Investments Holdings LLC increased its stake in Cheesecake Factory by 2,360.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock worth $25,000 after buying an additional 661 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new stake in Cheesecake Factory during the 4th quarter worth approximately $26,000. Quadrant Capital Group LLC boosted its position in Cheesecake Factory by 48.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,566 shares of the restaurant operator’s stock valued at $55,000 after buying an additional 511 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Cheesecake Factory in the third quarter worth $70,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

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.