Q1 2024 EPS Estimates for The Cheesecake Factory Incorporated Lifted by Wedbush (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Equities research analysts at Wedbush upped their Q1 2024 earnings estimates for Cheesecake Factory in a report issued on Thursday, May 2nd. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings per share of $0.64 for the quarter, up from their previous estimate of $0.61. Wedbush currently has a “Outperform” rating and a $40.00 target price on the stock. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.06 per share. Wedbush also issued estimates for Cheesecake Factory’s Q3 2024 earnings at $0.49 EPS.

A number of other research analysts also recently weighed in on CAKE. Stephens reissued an “overweight” rating and issued a $44.00 price target on shares of Cheesecake Factory in a research note on Friday, April 12th. Piper Sandler increased their target price on Cheesecake Factory from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Oppenheimer restated a “market perform” rating on shares of Cheesecake Factory in a report on Thursday, February 22nd. Barclays upped 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. Finally, JPMorgan Chase & Co. cut Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 price objective for the company. in a report on Tuesday, January 23rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Cheesecake Factory presently has a consensus rating of “Hold” and a consensus price target of $34.60.

Cheesecake Factory Stock Performance

Cheesecake Factory stock opened at $34.02 on Monday. The company’s 50-day moving average is $35.16 and its two-hundred day moving average is $33.97. Cheesecake Factory has a 1 year low of $28.58 and a 1 year high of $38.19. The company has a market cap of $1.74 billion, a PE ratio of 16.51, a PEG ratio of 1.12 and a beta of 1.48. 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 for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. Cheesecake Factory had a net margin of 2.95% and a return on equity of 41.66%. The business had revenue of $877.00 million during the quarter, compared to analyst estimates of $876.17 million. During the same quarter last year, the business posted $0.56 earnings per share. Cheesecake Factory’s revenue for the quarter was down 1.8% compared to the same quarter last year.

Cheesecake Factory Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, March 6th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Tuesday, March 5th. Cheesecake Factory’s payout ratio is presently 52.43%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of Cheesecake Factory during the 3rd quarter valued at $612,000. New York State Teachers Retirement System lifted its stake in shares of Cheesecake Factory by 3.6% in the 3rd quarter. New York State Teachers Retirement System now owns 74,035 shares of the restaurant operator’s stock valued at $2,243,000 after purchasing an additional 2,577 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cheesecake Factory by 40.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,148 shares of the restaurant operator’s stock worth $307,000 after buying an additional 2,935 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cheesecake Factory by 2.3% in 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 during the period. Finally, Inspire Investing LLC increased its stake in Cheesecake Factory by 10.2% in the third quarter. Inspire Investing LLC now owns 11,366 shares of the restaurant operator’s stock valued at $344,000 after purchasing an additional 1,049 shares in the last quarter. 94.48% of the stock is owned by institutional investors.

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.