Cheesecake Factory (NASDAQ:CAKE) Releases Earnings Results, Beats Estimates By $0.10 EPS

Cheesecake Factory (NASDAQ:CAKE) issued its earnings results on Wednesday. The restaurant operator reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.10, Briefing.com reports. Cheesecake Factory had a return on equity of 41.66% and a net margin of 2.95%. The company had revenue of $891.22 million during the quarter, compared to analysts’ expectations of $890.49 million. During the same period in the prior year, the business posted $0.61 EPS. Cheesecake Factory’s quarterly revenue was up 2.9% compared to the same quarter last year.

Cheesecake Factory Price Performance

Shares of NASDAQ:CAKE traded down $0.05 during midday trading on Wednesday, reaching $33.97. 1,507,414 shares of the company were exchanged, compared to its average volume of 832,662. 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 $1.73 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 1.12 and a beta of 1.48. The business’s fifty day moving average is $35.16 and its two-hundred day moving average is $33.97. Cheesecake Factory has a one year low of $28.58 and a one year high of $38.19.

Cheesecake Factory Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Tuesday, March 5th. Cheesecake Factory’s payout ratio is currently 52.43%.

Analyst Upgrades and Downgrades

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

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.