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) – Research analysts at William Blair lifted their Q3 2024 earnings per share estimates for Cheesecake Factory in a report issued on Wednesday, April 24th. William Blair analyst S. Zackfia now expects that the restaurant operator will earn $0.43 per share for the quarter, up from their prior 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 announced its quarterly earnings results on Wednesday, February 21st. The restaurant operator reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The firm had revenue of $877.00 million during 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%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.56 earnings per share.

A number of other equities analysts also recently issued reports on CAKE. Barclays upped 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. 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 research note on Tuesday, January 23rd. Stephens reiterated an “overweight” rating and issued a $44.00 price objective on shares of Cheesecake Factory in a research note on Friday, April 12th. Piper Sandler boosted their price objective on Cheesecake Factory from $33.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Finally, Oppenheimer reiterated a “market perform” rating on shares of Cheesecake Factory in a research note on Thursday, February 22nd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cheesecake Factory has an average rating of “Hold” and an average price target of $35.64.

Cheesecake Factory Stock Performance

Shares of CAKE opened at $34.88 on Friday. The stock has a 50 day moving average price of $35.30 and a 200 day moving average price of $33.70. The company has a quick ratio of 0.37, a current ratio of 0.46 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. Cheesecake Factory has a 52-week low of $28.58 and a 52-week high of $38.19.

Cheesecake Factory Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, March 6th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Tuesday, March 5th. Cheesecake Factory’s dividend payout ratio (DPR) is 52.43%.

Institutional Trading of Cheesecake Factory

Large investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in shares of Cheesecake Factory by 46.9% during the third quarter. Envestnet Asset Management Inc. now owns 411,017 shares of the restaurant operator’s stock valued at $12,454,000 after acquiring an additional 131,295 shares during the last quarter. Advisors Preferred LLC acquired a new stake in Cheesecake Factory in the 4th quarter worth about $2,335,000. IPG Investment Advisors LLC acquired a new stake in Cheesecake Factory in the 3rd quarter worth about $2,246,000. Vanguard Group Inc. boosted its stake in Cheesecake Factory by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 5,568,464 shares of the restaurant operator’s stock worth $168,724,000 after buying an additional 22,099 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its stake in Cheesecake Factory by 2.8% in the 3rd quarter. William Blair Investment Management LLC now owns 646,861 shares of the restaurant operator’s stock worth $19,600,000 after buying an additional 17,521 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

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.