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

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – William Blair raised their Q1 2024 earnings per share (EPS) estimates for shares of Cheesecake Factory in a note issued to investors on Wednesday, April 24th. William Blair analyst S. Zackfia now expects that the restaurant operator will post earnings per share of $0.64 for the quarter, up from their prior forecast of $0.63. 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 Q2 2024 earnings at $1.05 EPS, FY2024 earnings at $3.09 EPS and FY2025 earnings at $3.51 EPS.

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

Other research analysts have also issued research reports about the company. Piper Sandler raised their price objective on Cheesecake Factory from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Stephens restated an “overweight” rating and issued a $44.00 price objective on shares of Cheesecake Factory in a report on Friday, April 12th. Wedbush restated an “outperform” rating and issued a $40.00 price objective on shares of Cheesecake Factory in a report on Wednesday, April 10th. Barclays raised their price objective on Cheesecake Factory from $32.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, February 22nd. Finally, Oppenheimer restated a “market perform” rating on shares of Cheesecake Factory in a report on Thursday, February 22nd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Cheesecake Factory has an average rating of “Hold” and a consensus target price of $35.64.

Cheesecake Factory Trading Up 1.3 %

Shares of CAKE stock opened at $35.35 on Monday. The stock’s fifty day moving average is $35.31 and its two-hundred day moving average is $33.78. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.37 and a current ratio of 0.46. The firm has a market capitalization of $1.80 billion, a P/E ratio of 17.16, a PEG ratio of 1.17 and a beta of 1.48. Cheesecake Factory has a fifty-two week low of $28.58 and a fifty-two week high of $38.19.

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 $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Tuesday, March 5th. Cheesecake Factory’s dividend payout ratio (DPR) is presently 52.43%.

Institutional Trading of Cheesecake Factory

Hedge funds and other institutional investors have recently modified their holdings of the stock. South Dakota Investment Council acquired a new stake in shares of Cheesecake Factory during the 4th quarter worth about $844,000. Envestnet Asset Management Inc. increased its position in shares of Cheesecake Factory by 46.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 411,017 shares of the restaurant operator’s stock worth $12,454,000 after purchasing an additional 131,295 shares during the last quarter. Advisors Preferred LLC acquired a new stake in shares of Cheesecake Factory during the 4th quarter worth about $2,335,000. IPG Investment Advisors LLC acquired a new stake in shares of Cheesecake Factory during the 3rd quarter worth about $2,246,000. Finally, Vanguard Group Inc. increased its position in shares of Cheesecake Factory by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 5,568,464 shares of the restaurant operator’s stock worth $168,724,000 after purchasing an additional 22,099 shares during the last quarter. 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.