Cheesecake Factory (NASDAQ:CAKE) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Cheesecake Factory (NASDAQ:CAKE) posted its quarterly earnings results on Wednesday. The restaurant operator reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10, Briefing.com reports. Cheesecake Factory had a net margin of 2.95% and a return on equity of 41.66%. The company had revenue of $891.22 million during the quarter, compared to analyst estimates of $890.49 million. During the same period in the prior year, the business posted $0.61 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year.

Cheesecake Factory Price Performance

Cheesecake Factory stock traded down $0.05 during mid-day trading on Wednesday, hitting $33.97. The stock had a trading volume of 1,504,452 shares, compared to its average volume of 832,629. The company has a current ratio of 0.46, a quick ratio of 0.37 and a debt-to-equity ratio of 1.48. The firm’s 50 day moving average is $35.16 and its 200 day moving average is $33.97. The firm has a market capitalization of $1.73 billion, a P/E ratio of 16.51, a P/E/G ratio of 1.12 and a beta of 1.48. Cheesecake Factory has a one year low of $28.58 and a one year high of $38.19.

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 3.18%. The ex-dividend date of this dividend was Tuesday, March 5th. Cheesecake Factory’s payout ratio is currently 52.43%.

Wall Street Analysts Forecast Growth

CAKE has been the subject of a number of analyst reports. Stephens reiterated an “overweight” rating and set a $44.00 target price on shares of Cheesecake Factory in a report on Friday, April 12th. Oppenheimer reiterated a “market perform” rating on shares of Cheesecake Factory in a research report on Thursday, February 22nd. Barclays boosted their target price on Cheesecake Factory from $32.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, February 22nd. Piper Sandler lifted their price target on shares of Cheesecake Factory from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Finally, Wedbush reissued an “outperform” rating and set a $40.00 price objective on shares of Cheesecake Factory in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $34.60.

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.