The Cheesecake Factory Incorporated (NASDAQ:CAKE – Free Report) – Research analysts at Wedbush lifted their Q1 2024 earnings per share estimates for Cheesecake Factory in a report issued on Wednesday, November 1st. Wedbush analyst N. Setyan now expects that the restaurant operator will earn $0.78 per share for the quarter, up from their prior forecast of $0.77. Wedbush has a “Neutral” rating and a $32.00 price target on the stock. The consensus estimate for Cheesecake Factory’s current full-year earnings is $2.69 per share. Wedbush also issued estimates for Cheesecake Factory’s Q2 2024 earnings at $0.99 EPS and FY2024 earnings at $3.16 EPS.
Other equities research analysts have also recently issued research reports about the company. StockNews.com initiated coverage on Cheesecake Factory in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Cheesecake Factory in a research note on Thursday, October 19th. They set a “hold” rating and a $32.00 price target for the company. Barclays dropped their price objective on shares of Cheesecake Factory from $28.00 to $26.00 and set an “underweight” rating on the stock in a research note on Thursday. Morgan Stanley lowered their price target on Cheesecake Factory from $31.00 to $28.00 and set an “underweight” rating on the stock in a report on Wednesday, October 11th. Finally, TheStreet cut Cheesecake Factory from a “b-” rating to a “c+” rating in a research report on Monday, October 30th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $33.93.
Cheesecake Factory Stock Up 2.8 %
Cheesecake Factory stock opened at $31.09 on Monday. The stock has a 50-day simple moving average of $30.27 and a 200-day simple moving average of $32.68. The company has a market capitalization of $1.59 billion, a P/E ratio of 17.97, a PEG ratio of 0.55 and a beta of 1.46. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.38 and a current ratio of 0.48. Cheesecake Factory has a fifty-two week low of $28.58 and a fifty-two week high of $41.28.
Cheesecake Factory (NASDAQ:CAKE – Get Free Report) last posted its earnings results on Wednesday, November 1st. The restaurant operator reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Cheesecake Factory had a net margin of 2.47% and a return on equity of 39.29%. The company had revenue of $830.20 million during the quarter, compared to analysts’ expectations of $842.63 million. During the same period last year, the business earned ($0.03) earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Cheesecake Factory by 71.6% in the 1st 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 during the last quarter. American Century Companies Inc. boosted its holdings in Cheesecake Factory by 51.5% in the first quarter. American Century Companies Inc. now owns 16,290 shares of the restaurant operator’s stock valued at $648,000 after acquiring an additional 5,537 shares during the last quarter. HighTower Advisors LLC grew its position in Cheesecake Factory by 7.7% during 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 increased 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 during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Cheesecake Factory by 34.8% in the 1st quarter. Bank of Montreal Can now owns 20,306 shares of the restaurant operator’s stock worth $803,000 after purchasing an additional 5,247 shares during the period. 88.68% of the stock is currently owned by hedge funds and other institutional investors.
Cheesecake Factory Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Wednesday, November 15th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.08 annualized dividend and a yield of 3.47%. Cheesecake Factory’s dividend payout ratio (DPR) is presently 62.43%.
Cheesecake Factory Company Profile
The Cheesecake Factory Incorporated engages in restaurant business. The company 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. It also operates restaurants in the United States and Canada under brands comprising The Cheesecake Factory, North Italia, and a collection of Fox Restaurant Concepts, as well as The Cheesecake Factory restaurants under licensing agreements internationally.
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