The Cheesecake Factory Incorporated to Post Q3 2024 Earnings of $0.43 Per Share, William Blair Forecasts (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Equities researchers at William Blair boosted their Q3 2024 earnings estimates for shares of Cheesecake Factory in a research note issued to investors on Wednesday, April 24th. William Blair analyst S. Zackfia now anticipates that the restaurant operator will post earnings per share of $0.43 for the quarter, up from their previous 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.

Cheesecake Factory (NASDAQ:CAKE) last posted its 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. The firm 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 quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 EPS.

A number of other equities research analysts have also recently commented on the stock. Wedbush reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Cheesecake Factory in a report on Wednesday, April 10th. Stephens reissued an “overweight” rating and set a $44.00 target price on shares of Cheesecake Factory in a report on Friday, April 12th. Oppenheimer reissued a “market perform” rating on shares of Cheesecake Factory in a report on Thursday, February 22nd. Piper Sandler boosted their target price 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, JPMorgan Chase & Co. cut shares of Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 target price on the stock. in a report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $35.64.

Cheesecake Factory Trading Down 1.2 %

NASDAQ:CAKE opened at $34.88 on Friday. 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 stock has a market capitalization of $1.78 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. The firm’s 50 day moving average is $35.30 and its 200 day moving average is $33.70. Cheesecake Factory has a 12 month low of $28.58 and a 12 month high of $38.19.

Institutional Trading of Cheesecake Factory

Several institutional investors and hedge funds have recently modified their holdings of the business. Studio Investment Management LLC purchased a new position in shares of Cheesecake Factory during the 3rd quarter valued at about $25,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Cheesecake Factory by 2,360.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 661 shares in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Cheesecake Factory during the 4th quarter valued at about $26,000. Quadrant Capital Group LLC raised its holdings 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 valued at $55,000 after buying an additional 511 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in Cheesecake Factory in the 3rd quarter worth approximately $70,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Announces Dividend

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 $0.27 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.08 annualized dividend and a dividend yield of 3.10%. Cheesecake Factory’s payout ratio is currently 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.