Equities Analysts Issue Forecasts for The Cheesecake Factory Incorporated’s Q1 2024 Earnings (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Stock analysts at William Blair lifted their Q1 2024 earnings per share estimates for 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 earn $0.64 per share for the quarter, up from their prior forecast 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.

Several other equities analysts also recently weighed in on the company. Stephens restated an “overweight” rating and issued a $44.00 target price on shares of Cheesecake Factory in a research report on Friday, April 12th. Piper Sandler raised their target price on Cheesecake Factory from $33.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Wedbush restated an “outperform” rating and issued a $40.00 target price on shares of Cheesecake Factory in a research report on Wednesday, April 10th. Oppenheimer reaffirmed a “market perform” rating on shares of Cheesecake Factory in a report on Thursday, February 22nd. Finally, Barclays increased their price target on Cheesecake Factory from $32.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $35.64.

Cheesecake Factory Stock Performance

Shares of CAKE stock opened at $34.52 on Monday. The company has a market capitalization of $1.76 billion, a P/E ratio of 16.76, a P/E/G ratio of 1.17 and a beta of 1.48. The business’s 50 day moving average is $35.31 and its two-hundred day moving average is $33.83. Cheesecake Factory has a 12-month low of $28.58 and a 12-month high of $38.19. The company has a current ratio of 0.46, a quick ratio of 0.37 and a debt-to-equity ratio of 1.48.

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

Cheesecake Factory Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Tuesday, March 5th. Cheesecake Factory’s dividend payout ratio (DPR) is 52.43%.

Institutional Trading of Cheesecake Factory

A number of institutional investors have recently bought and sold shares of CAKE. 1492 Capital Management LLC increased its position in shares of Cheesecake Factory by 0.9% during the fourth quarter. 1492 Capital Management LLC now owns 32,015 shares of the restaurant operator’s stock worth $1,121,000 after purchasing an additional 293 shares in the last quarter. Swiss National Bank increased its position in shares of Cheesecake Factory by 0.4% during the third quarter. Swiss National Bank now owns 107,200 shares of the restaurant operator’s stock worth $3,248,000 after purchasing an additional 400 shares in the last quarter. Simplicity Solutions LLC increased its position in shares of Cheesecake Factory by 3.4% during the third quarter. Simplicity Solutions LLC now owns 13,081 shares of the restaurant operator’s stock worth $396,000 after purchasing an additional 436 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Cheesecake Factory by 2.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,642 shares of the restaurant operator’s stock worth $656,000 after purchasing an additional 487 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of Cheesecake Factory by 48.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,566 shares of the restaurant operator’s stock worth $55,000 after purchasing an additional 511 shares in the last quarter. 94.48% of the stock is 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.