Zacks Research Has Positive Outlook of CAKE FY2024 Earnings

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for Cheesecake Factory in a research note issued on Tuesday, November 12th. Zacks Research analyst H. Ray now forecasts that the restaurant operator will earn $3.30 per share for the year, up from their prior estimate of $3.23. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.30 per share. Zacks Research also issued estimates for Cheesecake Factory’s Q4 2024 earnings at $0.90 EPS, Q1 2025 earnings at $0.85 EPS, Q2 2025 earnings at $1.15 EPS, Q3 2025 earnings at $0.56 EPS, Q4 2025 earnings at $0.97 EPS, FY2025 earnings at $3.52 EPS, Q1 2026 earnings at $0.89 EPS, Q2 2026 earnings at $1.23 EPS, Q3 2026 earnings at $0.64 EPS and FY2026 earnings at $3.74 EPS.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 EPS for the quarter, beating the consensus estimate of $0.47 by $0.11. The company had revenue of $865.50 million for the quarter, compared to analyst estimates of $866.13 million. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 earnings per share.

CAKE has been the subject of several other research reports. StockNews.com downgraded shares of Cheesecake Factory from a “buy” rating to a “hold” rating in a research report on Tuesday. UBS Group increased their price objective 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. JPMorgan Chase & Co. cut their price objective on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday, August 6th. Stephens increased their price objective on shares of Cheesecake Factory from $50.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Barclays increased their price target on shares of Cheesecake Factory from $38.00 to $44.00 and gave the company an “underweight” rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $44.75.

Cheesecake Factory Trading Down 0.1 %

Shares of Cheesecake Factory stock opened at $48.06 on Thursday. Cheesecake Factory has a fifty-two week low of $30.96 and a fifty-two week high of $50.75. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44. The firm has a 50-day simple moving average of $41.91 and a two-hundred day simple moving average of $39.40. The company has a market cap of $2.45 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 1.32 and a beta of 1.47.

Cheesecake Factory Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, November 13th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.25%. Cheesecake Factory’s payout ratio is 41.06%.

Insider Activity

In related news, insider Keith Carango sold 13,095 shares of Cheesecake Factory stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $49.88, for a total transaction of $653,178.60. Following the sale, the insider now directly owns 14,977 shares in the company, valued at $747,052.76. This trade represents a 46.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its position in 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 purchasing an additional 661 shares during the last quarter. GAMMA Investing LLC raised its position in Cheesecake Factory by 276.4% in the second 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 in the last quarter. nVerses Capital LLC purchased a new stake in shares of Cheesecake Factory during the 2nd quarter worth $67,000. SG Americas Securities LLC purchased a new position in shares of Cheesecake Factory in the 1st quarter valued at about $121,000. Finally, Wealth Alliance purchased a new stake in shares of Cheesecake Factory during the 2nd quarter worth approximately $213,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

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.