Q2 2023 EPS Estimates for The Cheesecake Factory Incorporated Decreased by Analyst (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Rating) – Equities research analysts at Zacks Research reduced their Q2 2023 earnings estimates for shares of Cheesecake Factory in a research report issued on Wednesday, May 24th. Zacks Research analyst H. Ray now anticipates that the restaurant operator will post earnings of $0.84 per share for the quarter, down from their previous forecast of $0.86. The consensus estimate for Cheesecake Factory’s current full-year earnings is $2.76 per share. Zacks Research also issued estimates for Cheesecake Factory’s Q3 2023 earnings at $0.48 EPS, Q4 2023 earnings at $0.75 EPS, FY2023 earnings at $2.68 EPS, Q1 2024 earnings at $0.69 EPS, Q2 2024 earnings at $0.78 EPS, Q3 2024 earnings at $0.72 EPS, Q4 2024 earnings at $0.79 EPS, FY2024 earnings at $2.97 EPS and FY2025 earnings at $3.33 EPS.

CAKE has been the topic of several other reports. StockNews.com initiated coverage on Cheesecake Factory in a report on Thursday, May 18th. They set a “hold” rating on the stock. Robert W. Baird raised their target price on shares of Cheesecake Factory from $33.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, February 23rd. Northcoast Research assumed coverage on shares of Cheesecake Factory in a research report on Tuesday, May 2nd. They set a “buy” rating and a $46.00 target price for the company. Barclays raised their price target on Cheesecake Factory from $30.00 to $32.00 in a research report on Thursday, May 11th. Finally, Stephens boosted their price objective on Cheesecake Factory from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, February 23rd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $36.38.

Cheesecake Factory Price Performance

NASDAQ CAKE opened at $32.54 on Friday. The company has a 50 day moving average price of $33.45 and a two-hundred day moving average price of $35.18. Cheesecake Factory has a 12-month low of $26.05 and a 12-month high of $41.28. The stock has a market capitalization of $1.67 billion, a PE ratio of 34.62, a price-to-earnings-growth ratio of 2.39 and a beta of 1.43. The company has a quick ratio of 0.41, a current ratio of 0.50 and a debt-to-equity ratio of 1.56.

Cheesecake Factory (NASDAQ:CAKE – Get Rating) last posted its quarterly earnings results on Wednesday, May 10th. The restaurant operator reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. The company had revenue of $866.11 million during the quarter, compared to the consensus estimate of $869.08 million. Cheesecake Factory had a return on equity of 25.95% and a net margin of 1.42%. During the same period last year, the business earned $0.47 EPS.

Cheesecake Factory Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Wednesday, May 24th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Tuesday, May 23rd. Cheesecake Factory’s dividend payout ratio is 114.89%.

Institutional Trading of Cheesecake Factory

Institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. boosted its holdings in Cheesecake Factory by 71.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 50,091 shares of the restaurant operator’s stock valued at $1,993,000 after purchasing an additional 20,892 shares in the last quarter. American Century Companies Inc. boosted its stake in Cheesecake Factory by 51.5% in the 1st quarter. American Century Companies Inc. now owns 16,290 shares of the restaurant operator’s stock valued at $648,000 after buying an additional 5,537 shares in the last quarter. HighTower Advisors LLC grew its position in Cheesecake Factory by 7.7% in the first quarter. HighTower Advisors LLC now owns 30,953 shares of the restaurant operator’s stock valued at $1,231,000 after acquiring an additional 2,207 shares during the period. Private Advisor Group LLC raised its stake in Cheesecake Factory by 5.6% during the first quarter. Private Advisor Group LLC now owns 10,726 shares of the restaurant operator’s stock worth $426,000 after acquiring an additional 565 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Cheesecake Factory by 34.8% during the first quarter. Bank of Montreal Can now owns 20,306 shares of the restaurant operator’s stock valued at $803,000 after acquiring an additional 5,247 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.

About Cheesecake Factory

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Cheesecake Factory, Inc engages in the operation of restaurant chains. It operates through The Cheesecake Factory, North Italia, Other FRC and Other segments. The Cheesecake Factory segment offers appetizers, pizza, seafood, steaks, chicken, burgers, small plates, pastas, salads, sandwiches and omelettes, and a selection of gluten-free items.