The Cheesecake Factory Incorporated Forecasted to Earn Q3 2024 Earnings of $0.43 Per Share (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Equities research analysts at William Blair increased their Q3 2024 EPS estimates for shares of Cheesecake Factory in a research note issued on Wednesday, April 24th. William Blair analyst S. Zackfia now forecasts that the restaurant operator will post earnings per share of $0.43 for the quarter, up from their prior forecast of $0.40. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.06 per share. William Blair also issued estimates for Cheesecake Factory’s Q4 2024 earnings at $0.97 EPS.

CAKE has been the subject of a number of other research reports. Piper Sandler increased their target price on shares of Cheesecake Factory from $33.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Wedbush reiterated an “outperform” rating and issued a $40.00 target price on shares of Cheesecake Factory in a research report on Wednesday, April 10th. JPMorgan Chase & Co. lowered shares of Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 target price for the company. in a research report on Tuesday, January 23rd. Barclays increased their target price on shares of Cheesecake Factory from $32.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, February 22nd. Finally, Oppenheimer reiterated a “market perform” rating on shares of Cheesecake Factory in a research report on Thursday, February 22nd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Cheesecake Factory currently has an average rating of “Hold” and an average price target of $35.64.

Cheesecake Factory Stock Performance

Shares of CAKE opened at $35.36 on Friday. The firm has a 50-day moving average price of $35.31 and a 200 day moving average price of $33.76. The firm has a market capitalization of $1.80 billion, a PE ratio of 17.16, a P/E/G ratio of 1.16 and a beta of 1.48. The company has a quick ratio of 0.37, a current ratio of 0.46 and a debt-to-equity ratio of 1.48. Cheesecake Factory has a 52-week low of $28.58 and a 52-week high of $38.19.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The business had revenue of $877.00 million for the quarter, compared to analysts’ expectations of $876.17 million. Cheesecake Factory had a net margin of 2.95% and a return on equity of 41.66%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Cheesecake Factory by 0.4% in the third quarter. Vanguard Group Inc. now owns 5,568,464 shares of the restaurant operator’s stock worth $168,724,000 after buying an additional 22,099 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Cheesecake Factory by 2.8% in the third quarter. William Blair Investment Management LLC now owns 646,861 shares of the restaurant operator’s stock worth $19,600,000 after buying an additional 17,521 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cheesecake Factory by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 559,492 shares of the restaurant operator’s stock worth $19,588,000 after buying an additional 13,352 shares during the period. Natixis Advisors L.P. boosted its holdings in shares of Cheesecake Factory by 8.6% in the fourth quarter. Natixis Advisors L.P. now owns 529,375 shares of the restaurant operator’s stock worth $18,533,000 after buying an additional 41,907 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Cheesecake Factory by 2.0% in the third quarter. American Century Companies Inc. now owns 476,762 shares of the restaurant operator’s stock worth $14,446,000 after buying an additional 9,409 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Cheesecake Factory Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, March 6th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Tuesday, March 5th. Cheesecake Factory’s payout ratio is 52.43%.

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.