Research Analysts Issue Forecasts for The Cheesecake Factory Incorporated’s FY2024 Earnings (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Equities researchers at Zacks Research lifted their FY2024 earnings per share estimates for shares of Cheesecake Factory in a report released on Wednesday, August 14th. Zacks Research analyst H. Ray now forecasts that the restaurant operator will post earnings of $3.23 per share for the year, up from their previous forecast of $3.16. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.21 per share. Zacks Research also issued estimates for Cheesecake Factory’s Q4 2024 earnings at $0.92 EPS, Q1 2025 earnings at $0.82 EPS, Q3 2025 earnings at $0.53 EPS and Q4 2025 earnings at $0.94 EPS.

CAKE has been the subject of a number of other reports. Citigroup upgraded shares of Cheesecake Factory from a “neutral” rating to a “buy” rating and boosted their target price for the company from $38.00 to $47.00 in a research note on Friday, May 10th. Barclays lifted their price target on shares of Cheesecake Factory from $32.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Wedbush restated an “outperform” rating and set a $45.00 target price on shares of Cheesecake Factory in a research note on Thursday, August 1st. Robert W. Baird raised their price target on Cheesecake Factory from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. dropped their price objective on Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a research note on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cheesecake Factory currently has a consensus rating of “Hold” and a consensus price target of $40.08.

Cheesecake Factory Stock Up 0.6 %

Shares of CAKE stock traded up $0.21 during mid-day trading on Friday, hitting $37.41. The company’s stock had a trading volume of 15,201 shares, compared to its average volume of 944,691. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.33 and a current ratio of 0.43. Cheesecake Factory has a 52-week low of $28.58 and a 52-week high of $41.25. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 1.07 and a beta of 1.51. The business has a 50-day moving average price of $38.16 and a 200 day moving average price of $36.63.

Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, July 31st. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. Cheesecake Factory had a net margin of 3.32% and a return on equity of 45.30%. The business had revenue of $904.04 million during the quarter, compared to analysts’ expectations of $909.19 million. During the same period in the previous year, the company earned $0.88 earnings per share. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year.

Institutional Trading of Cheesecake Factory

Several hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew 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 valued at $25,000 after purchasing an additional 661 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in Cheesecake Factory during the fourth quarter valued at $26,000. GAMMA Investing LLC lifted its position in Cheesecake Factory by 276.4% during the second quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock valued at $57,000 after purchasing an additional 1,064 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Cheesecake Factory by 48.4% in the 4th 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, nVerses Capital LLC bought a new stake in shares of Cheesecake Factory in the 2nd quarter worth about $67,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

Cheesecake Factory Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Wednesday, August 14th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Wednesday, August 14th. Cheesecake Factory’s dividend payout ratio is presently 49.54%.

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.