The Cheesecake Factory Incorporated Expected to Post FY2024 Earnings of $3.18 Per Share (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Investment analysts at Wedbush upped their FY2024 earnings per share estimates for shares of Cheesecake Factory in a research report issued on Thursday, May 9th. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings of $3.18 per share for the year, up from their prior estimate of $3.17. Wedbush has a “Outperform” rating and a $45.00 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 FY2025 earnings at $3.72 EPS.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Wednesday, May 8th. The restaurant operator reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. 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 for the quarter, compared to analysts’ expectations of $890.49 million. During the same period in the previous year, the firm earned $0.61 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year.

Several other analysts have also weighed in on CAKE. Wells Fargo & Company increased their price target on Cheesecake Factory from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. downgraded Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 price target on the stock. in a research report on Tuesday, January 23rd. Barclays dropped their price target on Cheesecake Factory from $33.00 to $32.00 and set an “underweight” rating on the stock in a research report on Thursday. Oppenheimer reissued a “market perform” rating on shares of Cheesecake Factory in a research report on Thursday, February 22nd. Finally, Raymond James raised Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $37.67.

Cheesecake Factory Stock Up 6.2 %

Shares of CAKE opened at $36.06 on Friday. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 1.12 and a beta of 1.48. Cheesecake Factory has a 1 year low of $28.58 and a 1 year high of $38.19. The business’s 50 day simple moving average is $35.15 and its 200-day simple moving average is $33.99. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.46 and a quick ratio of 0.37.

Institutional Investors Weigh In On Cheesecake Factory

A number of hedge funds have recently made changes to their positions in CAKE. Studio Investment Management LLC purchased a new stake in Cheesecake Factory in the third quarter valued at about $25,000. Allspring Global Investments Holdings LLC raised its stake in 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 valued at $25,000 after buying an additional 661 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in Cheesecake Factory in the fourth quarter valued at about $26,000. Quadrant Capital Group LLC raised its stake in Cheesecake Factory by 48.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,566 shares of the restaurant operator’s stock valued at $55,000 after buying an additional 511 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Cheesecake Factory in the third quarter valued at about $70,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Cheesecake Factory Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, March 6th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Tuesday, March 5th. Cheesecake Factory’s dividend payout ratio (DPR) is currently 52.43%.

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.