Cheesecake Factory (CAKE) to Release Quarterly Earnings on Wednesday

Cheesecake Factory (NASDAQ:CAKE) is set to issue its quarterly earnings data after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.62 per share for the quarter. Cheesecake Factory has set its FY 2024 guidance at EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, February 21st. The restaurant operator reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.07. Cheesecake Factory had a return on equity of 41.66% and a net margin of 2.95%. The firm had revenue of $877.00 million for the quarter, compared to analyst estimates of $876.17 million. During the same period last year, the company earned $0.56 earnings per share. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts expect Cheesecake Factory to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Cheesecake Factory Stock Performance

Shares of CAKE opened at $33.67 on Monday. The firm has a fifty day moving average of $35.21 and a 200-day moving average of $33.90. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 1.12 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 has a 1 year low of $28.58 and a 1 year high of $38.19.

Cheesecake Factory Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, March 6th were given a $0.27 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $1.08 annualized dividend and a yield of 3.21%. Cheesecake Factory’s dividend payout ratio is presently 52.43%.

Analysts Set New Price Targets

Several equities research analysts have commented on CAKE shares. Piper Sandler raised their price target on shares of Cheesecake Factory from $33.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Stephens reaffirmed an “overweight” rating and set a $44.00 target price on shares of Cheesecake Factory in a research note on Friday, April 12th. Barclays boosted their price target on Cheesecake Factory from $32.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday, February 22nd. Oppenheimer reissued a “market perform” rating on shares of Cheesecake Factory in a report on Thursday, February 22nd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of Cheesecake Factory in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $34.60.

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.