Cheesecake Factory (NASDAQ:CAKE) Issues Quarterly Earnings Results

Cheesecake Factory (NASDAQ:CAKE) released its quarterly earnings results on Wednesday. The restaurant operator reported $0.73 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $891.22 million during the quarter, compared to the consensus estimate of $890.49 million. During the same quarter in the prior year, the firm earned $0.61 EPS. Cheesecake Factory’s revenue for the quarter was up 2.9% on a year-over-year basis.

Cheesecake Factory Price Performance

Cheesecake Factory stock traded down $0.05 during trading hours on Wednesday, hitting $33.97. 1,504,452 shares of the company traded hands, compared to its average volume of 832,629. The firm’s 50-day simple moving average is $35.16 and its two-hundred day simple moving average is $33.97. The firm has a market cap 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 1-year low of $28.58 and a 1-year high of $38.19. The company has a quick ratio of 0.37, a current ratio of 0.46 and a debt-to-equity ratio of 1.48.

Cheesecake Factory Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, March 6th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.18%. The ex-dividend date was Tuesday, March 5th. Cheesecake Factory’s payout ratio is currently 52.43%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wedbush reissued an “outperform” rating and issued a $40.00 target price on shares of Cheesecake Factory in a report on Wednesday, April 10th. Stephens reaffirmed an “overweight” rating and set a $44.00 price target on shares of Cheesecake Factory in a research note on Friday, April 12th. JPMorgan Chase & Co. cut 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. Oppenheimer reissued a “market perform” rating on shares of Cheesecake Factory in a research report on Thursday, February 22nd. Finally, Piper Sandler lifted 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. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $34.60.

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.