Q1 2024 EPS Estimates for The Cheesecake Factory Incorporated Boosted by Wedbush (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Wedbush boosted their Q1 2024 earnings estimates for shares of Cheesecake Factory in a research report issued on Thursday, May 2nd. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings per share of $0.64 for the quarter, up from their previous forecast of $0.61. Wedbush currently has a “Outperform” rating and a $40.00 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 Q3 2024 earnings at $0.49 EPS.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data 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 return on equity of 41.66% and a net margin of 2.95%. The business had revenue of $877.00 million during the quarter, compared to analysts’ expectations of $876.17 million. During the same quarter in the previous year, the business earned $0.56 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year.

Several other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 target price for the company. in a report on Tuesday, January 23rd. Barclays upped their price objective on Cheesecake Factory from $32.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, February 22nd. Oppenheimer reissued a “market perform” rating on shares of Cheesecake Factory in a report on Thursday, February 22nd. Piper Sandler upped their price target on Cheesecake Factory from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Finally, Stephens reiterated an “overweight” rating and issued a $44.00 price objective on shares of Cheesecake Factory in a report on Friday, April 12th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.60.

Cheesecake Factory Stock Performance

Shares of Cheesecake Factory stock opened at $34.63 on Monday. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.12 and a beta of 1.48. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.46 and a quick ratio of 0.37. Cheesecake Factory has a 1 year low of $28.58 and a 1 year high of $38.19. The firm’s 50-day moving average is $35.21 and its 200 day moving average is $33.92.

Cheesecake Factory Dividend Announcement

The firm also recently declared 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 3.12%. The ex-dividend date of this dividend was Tuesday, March 5th. Cheesecake Factory’s payout ratio is currently 52.43%.

Hedge Funds Weigh In On Cheesecake Factory

A number of institutional investors and hedge funds have recently made changes to their positions in CAKE. Allspring Global Investments Holdings LLC grew its holdings in Cheesecake Factory by 2,360.7% during 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 during the period. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Cheesecake Factory during the 4th quarter valued at about $26,000. Studio Investment Management LLC bought a new position in shares of Cheesecake Factory during the 3rd quarter valued at approximately $25,000. Quadrant Capital Group LLC increased its holdings in 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 acquiring an additional 511 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in Cheesecake Factory during the 3rd quarter worth approximately $70,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

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.