The Cheesecake Factory Incorporated (NASDAQ:CAKE) to Post Q4 2023 Earnings of $0.87 Per Share, Wedbush Forecasts

The Cheesecake Factory Incorporated (NASDAQ:CAKEGet Rating) – Equities researchers at Wedbush lifted their Q4 2023 EPS estimates for Cheesecake Factory in a research note issued to investors on Thursday, April 28th. Wedbush analyst N. Setyan now anticipates that the restaurant operator will post earnings of $0.87 per share for the quarter, up from their prior forecast of $0.86. Wedbush has a “Outperform” rating and a $52.00 price objective on the stock.

A number of other research firms have also recently issued reports on CAKE. Deutsche Bank Aktiengesellschaft lowered their target price on Cheesecake Factory from $47.00 to $43.00 in a research note on Thursday. Raymond James decreased their price target on shares of Cheesecake Factory from $52.50 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, January 26th. StockNews.com assumed coverage on shares of Cheesecake Factory in a research note on Thursday, March 31st. They set a “hold” rating for the company. Stephens raised their price target on shares of Cheesecake Factory from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, February 17th. Finally, Piper Sandler cut shares of Cheesecake Factory from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $65.00 to $44.00 in a research note on Monday, January 3rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $49.92.

NASDAQ CAKE opened at $36.91 on Monday. The business has a 50 day simple moving average of $37.83 and a 200 day simple moving average of $39.32. Cheesecake Factory has a 52-week low of $31.43 and a 52-week high of $64.84. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.57 and a current ratio of 0.64. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 1.52 and a beta of 1.47.

Cheesecake Factory (NASDAQ:CAKEGet Rating) last posted its earnings results on Wednesday, April 27th. The restaurant operator reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Cheesecake Factory had a return on equity of 40.32% and a net margin of 2.96%. During the same period in the prior year, the firm earned $0.20 EPS.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Spire Wealth Management increased its position in shares of Cheesecake Factory by 1,743.2% in the fourth quarter. Spire Wealth Management now owns 682 shares of the restaurant operator’s stock worth $27,000 after purchasing an additional 645 shares during the period. Eagle Bay Advisors LLC increased its position in shares of Cheesecake Factory by 97,000.0% in the third quarter. Eagle Bay Advisors LLC now owns 971 shares of the restaurant operator’s stock worth $46,000 after purchasing an additional 970 shares during the period. Neo Ivy Capital Management bought a new position in shares of Cheesecake Factory in the fourth quarter worth $44,000. Advisors Asset Management Inc. grew its position in Cheesecake Factory by 30.1% in the fourth quarter. Advisors Asset Management Inc. now owns 1,365 shares of the restaurant operator’s stock valued at $53,000 after acquiring an additional 316 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in Cheesecake Factory by 271.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,883 shares of the restaurant operator’s stock valued at $74,000 after acquiring an additional 1,376 shares during the last quarter. 85.28% of the stock is owned by institutional investors.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 24th. Shareholders of record on Wednesday, May 11th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Tuesday, May 10th.

About Cheesecake Factory (Get Rating)

The Cheesecake Factory Incorporated operates restaurants. It operates two bakeries that produces cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors. The company owns and operates 306 restaurants throughout the United States and Canada under brands, including 208 The Cheesecake Factory and 29 North Italia; and a collection of Fox Restaurant Concepts, as well as 29 The Cheesecake Factory restaurants under licensing agreements internationally.

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Earnings History and Estimates for Cheesecake Factory (NASDAQ:CAKE)

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