Wedbush Forecasts Stronger Earnings for Cheesecake Factory

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Wedbush increased their FY2024 EPS estimates for shares of Cheesecake Factory in a report released on Wednesday, October 30th. Wedbush analyst N. Setyan now anticipates that the restaurant operator will post earnings per share of $3.30 for the year, up from their previous forecast of $3.21. Wedbush has a “Outperform” rating and a $52.00 price target on the stock. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.22 per share. Wedbush also issued estimates for Cheesecake Factory’s Q4 2024 earnings at $0.91 EPS.

A number of other analysts have also weighed in on the company. Robert W. Baird raised their target price on Cheesecake Factory from $40.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday. Citigroup raised their price objective on shares of Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Bank of America upped their target price on shares of Cheesecake Factory from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday. UBS Group raised their price target on shares of Cheesecake Factory from $32.00 to $36.00 and gave the company a “sell” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company upped their price objective on Cheesecake Factory from $38.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $44.17.

Cheesecake Factory Trading Down 0.9 %

CAKE stock opened at $45.82 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.43 and a quick ratio of 0.32. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 1.33 and a beta of 1.49. The business has a fifty day moving average price of $40.27 and a 200 day moving average price of $38.50. Cheesecake Factory has a fifty-two week low of $29.27 and a fifty-two week high of $49.75.

Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The company had revenue of $865.50 million during the quarter, compared to analysts’ expectations of $866.13 million. Cheesecake Factory had a net margin of 3.63% and a return on equity of 45.66%. Cheesecake Factory’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 earnings per share.

Hedge Funds Weigh In On Cheesecake Factory

Several hedge funds have recently added to or reduced their stakes in CAKE. Allspring Global Investments Holdings LLC grew its position in shares of Cheesecake Factory by 2,360.7% during the 1st 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 period. GAMMA Investing LLC boosted its stake in Cheesecake Factory by 276.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock worth $57,000 after acquiring an additional 1,064 shares during the last quarter. nVerses Capital LLC acquired a new position in Cheesecake Factory during the second quarter valued at approximately $67,000. SG Americas Securities LLC bought a new stake in Cheesecake Factory in the first quarter valued at approximately $121,000. Finally, Avantax Advisory Services Inc. bought a new stake in Cheesecake Factory in the first quarter valued at approximately $202,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Cheesecake Factory Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.36%. Cheesecake Factory’s dividend payout ratio (DPR) is presently 41.06%.

Cheesecake Factory Company Profile

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.