Q3 EPS Estimate for Cheesecake Factory Decreased by Analyst

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Investment analysts at William Blair cut their Q3 2024 earnings per share estimates for Cheesecake Factory in a research note issued on Wednesday, October 23rd. William Blair analyst S. Zackfia now anticipates that the restaurant operator will post earnings per share of $0.50 for the quarter, down from their previous estimate of $0.52. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.21 per share. William Blair also issued estimates for Cheesecake Factory’s Q4 2024 earnings at $0.87 EPS, FY2024 earnings at $3.19 EPS and FY2025 earnings at $3.53 EPS.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. The company had revenue of $904.04 million during the quarter, compared to analysts’ expectations of $909.19 million. Cheesecake Factory had a return on equity of 43.62% and a net margin of 3.32%. Cheesecake Factory’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the business earned $0.88 earnings per share.

Several other brokerages have also recently weighed in on CAKE. Wedbush reiterated an “outperform” rating and set a $45.00 price target on shares of Cheesecake Factory in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. cut their price objective on Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a research report on Tuesday, August 6th. Stephens restated an “overweight” rating and issued a $50.00 price objective on shares of Cheesecake Factory in a research report on Tuesday, October 22nd. Bank of America boosted their price objective on Cheesecake Factory from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company boosted their price objective on Cheesecake Factory from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and five 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 $41.67.

Cheesecake Factory Stock Up 1.3 %

Shares of CAKE stock opened at $42.04 on Monday. The stock has a 50 day moving average of $39.66 and a 200 day moving average of $38.17. The company has a current ratio of 0.43, a quick ratio of 0.32 and a debt-to-equity ratio of 1.26. The stock has a market cap of $2.14 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.13 and a beta of 1.49. Cheesecake Factory has a twelve month low of $29.27 and a twelve month high of $43.51.

Cheesecake Factory Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Wednesday, August 14th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.57%. The ex-dividend date was Wednesday, August 14th. Cheesecake Factory’s payout ratio is currently 49.54%.

Institutional Trading of Cheesecake Factory

Large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its holdings in Cheesecake Factory by 2,360.7% in the 1st 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 in the last quarter. GAMMA Investing LLC boosted its holdings in Cheesecake Factory by 276.4% in the 2nd 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. nVerses Capital LLC acquired a new position in Cheesecake Factory in the 2nd quarter valued at about $67,000. SG Americas Securities LLC acquired a new position in Cheesecake Factory in the 1st quarter valued at about $121,000. Finally, Avantax Advisory Services Inc. acquired a new position in Cheesecake Factory in the 1st quarter valued at about $202,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

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.