The Cheesecake Factory Incorporated to Post Q1 2024 Earnings of $0.64 Per Share, William Blair Forecasts (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Stock analysts at William Blair lifted their Q1 2024 earnings per share (EPS) estimates for shares of Cheesecake Factory in a research note issued to investors on Wednesday, April 24th. William Blair analyst S. Zackfia now expects that the restaurant operator will post earnings per share of $0.64 for the quarter, up from their prior estimate of $0.63. 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 Q2 2024 earnings at $1.05 EPS, FY2024 earnings at $3.09 EPS and FY2025 earnings at $3.51 EPS.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Wednesday, February 21st. The restaurant operator reported $0.80 EPS for the quarter, topping the consensus estimate of $0.73 by $0.07. Cheesecake Factory had a net margin of 2.95% and a return on equity of 41.66%. The company 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 company earned $0.56 EPS. Cheesecake Factory’s revenue was down 1.8% on a year-over-year basis.

CAKE has been the topic of several other reports. Barclays raised their price target on Cheesecake Factory from $32.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday, February 22nd. Stephens restated an “overweight” rating and set a $44.00 target price on shares of Cheesecake Factory in a research report on Friday, April 12th. Wedbush reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Cheesecake Factory in a research note 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 price objective on the stock. in a research note on Tuesday, January 23rd. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Cheesecake Factory in a research note 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 given a buy rating to the company. According to data from MarketBeat, Cheesecake Factory currently has a consensus rating of “Hold” and an average price target of $35.64.

Cheesecake Factory Price Performance

CAKE opened at $34.75 on Monday. The company has a fifty day moving average price of $35.31 and a two-hundred day moving average price of $33.83. The firm has a market capitalization of $1.77 billion, a PE ratio of 16.87, a P/E/G ratio of 1.17 and a beta of 1.48. Cheesecake Factory has a 52 week low of $28.58 and a 52 week high of $38.19. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.37 and a current ratio of 0.46.

Hedge Funds Weigh In On Cheesecake Factory

A number of large investors have recently added to or reduced their stakes in the company. Studio Investment Management LLC acquired a new position in shares of Cheesecake Factory during the third quarter worth about $25,000. Allspring Global Investments Holdings LLC lifted its stake 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 acquiring an additional 661 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in Cheesecake Factory during the 4th quarter worth approximately $26,000. Quadrant Capital Group LLC grew its stake in shares of Cheesecake Factory by 48.4% during 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 acquired a new stake in shares of Cheesecake Factory in the third quarter valued at approximately $70,000. Institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, March 6th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Tuesday, March 5th. Cheesecake Factory’s payout ratio is presently 52.43%.

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.