Q1 2024 EPS Estimates for The Cheesecake Factory Incorporated (NASDAQ:CAKE) Raised by Analyst

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Research analysts at William Blair upped their Q1 2024 earnings estimates for shares of Cheesecake Factory in a research report issued on Wednesday, April 24th. William Blair analyst S. Zackfia now anticipates that the restaurant operator will post earnings of $0.64 per share for the quarter, up from their prior estimate 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 released its earnings results on Wednesday, February 21st. The restaurant operator reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. Cheesecake Factory had a net margin of 2.95% and a return on equity of 41.66%. The company had revenue of $877.00 million for the quarter, compared to the consensus estimate of $876.17 million. During the same quarter in the previous year, the company earned $0.56 EPS. Cheesecake Factory’s quarterly revenue was down 1.8% compared to the same quarter last year.

Other analysts have also issued research reports about the stock. Wedbush restated an “outperform” rating and set a $40.00 price target on shares of Cheesecake Factory in a research note on Wednesday, April 10th. Stephens restated an “overweight” rating and set a $44.00 price target on shares of Cheesecake Factory in a research note on Friday, April 12th. Barclays boosted their price target on shares of Cheesecake Factory from $32.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. lowered 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 note on Tuesday, January 23rd. Finally, Piper Sandler boosted 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. 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $35.64.

Cheesecake Factory Stock Down 0.7 %

Cheesecake Factory stock opened at $34.52 on Monday. The company has a quick ratio of 0.37, a current ratio of 0.46 and a debt-to-equity ratio of 1.48. Cheesecake Factory has a 12-month low of $28.58 and a 12-month high of $38.19. The firm’s fifty day moving average is $35.31 and its 200 day moving average is $33.83. The company has a market capitalization of $1.76 billion, a PE ratio of 16.76, a PEG ratio of 1.17 and a beta of 1.48.

Cheesecake Factory Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, March 6th were given a dividend of $0.27 per share. The ex-dividend date was Tuesday, March 5th. This represents a $1.08 annualized dividend and a yield of 3.13%. Cheesecake Factory’s payout ratio is currently 52.43%.

Hedge Funds Weigh In On Cheesecake Factory

Several institutional investors have recently added to or reduced their stakes in the stock. Studio Investment Management LLC purchased a new stake in Cheesecake Factory during the third quarter valued at about $25,000. Allspring Global Investments Holdings LLC lifted its holdings 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 in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Cheesecake Factory in the fourth quarter worth about $26,000. Quadrant Capital Group LLC lifted its holdings in shares of Cheesecake Factory by 48.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,566 shares of the restaurant operator’s stock worth $55,000 after buying an additional 511 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Cheesecake Factory in the third quarter worth about $70,000. 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.