Research Analysts Offer Predictions for The Cheesecake Factory Incorporated’s Q1 2024 Earnings (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Investment analysts at Wedbush lifted their Q1 2024 earnings estimates for shares of Cheesecake Factory in a note issued to investors on Thursday, May 2nd. Wedbush analyst N. Setyan now forecasts that the restaurant operator will earn $0.64 per share for the quarter, up from their prior forecast of $0.61. Wedbush currently has a “Outperform” rating and a $40.00 price target on the stock. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.06 per share. Wedbush also issued estimates for Cheesecake Factory’s Q3 2024 earnings at $0.49 EPS.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $0.80 EPS 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 during the quarter, compared to the consensus estimate of $876.17 million. During the same period in the prior year, the business posted $0.56 earnings per share. The company’s quarterly revenue was down 1.8% compared to the same quarter last year.

Other analysts also recently issued reports about the company. Piper Sandler increased their price target on Cheesecake Factory from $33.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. JPMorgan Chase & Co. cut Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 target price on the stock. in a research note on Tuesday, January 23rd. Barclays increased their target price on shares of 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 research report on Thursday, February 22nd. Finally, Stephens reiterated an “overweight” rating and issued a $44.00 price objective on shares of Cheesecake Factory in a research note on Friday, April 12th. Three research 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. According to data from MarketBeat, Cheesecake Factory has an average rating of “Hold” and an average target price of $34.60.

Cheesecake Factory Price Performance

Shares of NASDAQ:CAKE opened at $33.67 on Monday. The company has a current ratio of 0.46, a quick ratio of 0.37 and a debt-to-equity ratio of 1.48. The stock has a market cap of $1.72 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 1.12 and a beta of 1.48. The stock’s fifty day simple moving average is $35.21 and its two-hundred day simple moving average is $33.90. 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 declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, March 6th were issued a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.08 annualized dividend and a dividend yield of 3.21%. Cheesecake Factory’s payout ratio is currently 52.43%.

Institutional Investors Weigh In On Cheesecake Factory

Several large investors have recently added to or reduced their stakes in CAKE. Vanguard Group Inc. raised its holdings in shares of Cheesecake Factory by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 5,568,464 shares of the restaurant operator’s stock valued at $168,724,000 after acquiring an additional 22,099 shares in the last quarter. William Blair Investment Management LLC raised its stake in Cheesecake Factory by 2.8% in the third quarter. William Blair Investment Management LLC now owns 646,861 shares of the restaurant operator’s stock valued at $19,600,000 after purchasing an additional 17,521 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Cheesecake Factory by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 559,492 shares of the restaurant operator’s stock valued at $19,588,000 after purchasing an additional 13,352 shares during the last quarter. Natixis Advisors L.P. grew its stake in Cheesecake Factory by 8.6% in the 4th quarter. Natixis Advisors L.P. now owns 529,375 shares of the restaurant operator’s stock worth $18,533,000 after buying an additional 41,907 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Cheesecake Factory by 2.0% in the 3rd quarter. American Century Companies Inc. now owns 476,762 shares of the restaurant operator’s stock worth $14,446,000 after buying an additional 9,409 shares during the last quarter. Institutional investors own 94.48% of the company’s stock.

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.