The Cheesecake Factory Incorporated (NASDAQ:CAKE) Forecasted to Earn Q3 2024 Earnings of $0.43 Per Share

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Equities research analysts at William Blair raised their Q3 2024 EPS estimates for Cheesecake Factory in a report issued on Wednesday, April 24th. William Blair analyst S. Zackfia now expects that the restaurant operator will earn $0.43 per share for the quarter, up from their prior forecast of $0.40. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.06 per share. William Blair also issued estimates for Cheesecake Factory’s Q4 2024 earnings at $0.97 EPS.

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

Several other equities analysts also recently weighed in on CAKE. Oppenheimer reissued a “market perform” rating on shares of Cheesecake Factory in a research note on Thursday, February 22nd. Piper Sandler lifted their price objective on shares of Cheesecake Factory from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Stephens reiterated an “overweight” rating and set a $44.00 price target on shares of Cheesecake Factory in a report on Friday, April 12th. Wedbush restated an “outperform” rating and set a $40.00 price objective on shares of Cheesecake Factory in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. downgraded shares of Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 price target for the company. in a research report on Tuesday, January 23rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $35.64.

Cheesecake Factory Stock Up 1.4 %

CAKE stock opened at $35.36 on Friday. The firm’s fifty day moving average is $35.31 and its 200 day moving average is $33.74. Cheesecake Factory has a one year low of $28.58 and a one year high of $38.19. The firm has a market cap of $1.80 billion, a PE ratio of 17.16, a P/E/G ratio of 1.17 and a beta of 1.48. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.37 and a current ratio of 0.46.

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. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.08 dividend on an annualized basis and a yield of 3.05%. Cheesecake Factory’s payout ratio is 52.43%.

Institutional Investors Weigh In On Cheesecake Factory

A number of large investors have recently added to or reduced their stakes in the business. New Century Financial Group LLC purchased a new position in shares of Cheesecake Factory during the 1st quarter worth about $1,108,000. Allspring Global Investments Holdings LLC increased its stake in shares of Cheesecake Factory by 2,360.7% in the first 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 last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Cheesecake Factory in the fourth quarter worth $26,000. Seven Eight Capital LP increased its stake in shares of Cheesecake Factory by 231.4% in the fourth quarter. Seven Eight Capital LP now owns 30,086 shares of the restaurant operator’s stock worth $1,053,000 after buying an additional 21,007 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Cheesecake Factory during the fourth quarter valued at $2,532,000. 94.48% of the stock is owned by institutional investors and hedge funds.

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.