Equities Analysts Offer Predictions for CAKE FY2024 Earnings

The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) - Research analysts at Zacks Research boosted their FY2024 earnings per share estimates for shares of Cheesecake Factory in a research note issued on Tuesday, November 12th. Zacks Research analyst H. Ray now forecasts that the restaurant operator will post earnings of $3.30 per share for the year, up from their previous estimate of $3.23. The consensus estimate for Cheesecake Factory's current full-year earnings is $3.30 per share. Zacks Research also issued estimates for Cheesecake Factory's Q4 2024 earnings at $0.90 EPS, Q1 2025 earnings at $0.85 EPS, Q2 2025 earnings at $1.15 EPS, Q3 2025 earnings at $0.56 EPS, Q4 2025 earnings at $0.97 EPS, FY2025 earnings at $3.52 EPS, Q1 2026 earnings at $0.89 EPS, Q2 2026 earnings at $1.23 EPS, Q3 2026 earnings at $0.64 EPS and FY2026 earnings at $3.74 EPS.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11. Cheesecake Factory had a return on equity of 43.90% and a net margin of 3.63%. The company had revenue of $865.50 million for the quarter, compared to analyst estimates of $866.13 million. During the same quarter last year, the firm earned $0.39 EPS. Cheesecake Factory's revenue for the quarter was up 4.3% compared to the same quarter last year.

A number of other equities research analysts have also recently issued reports on the company. Robert W. Baird boosted their price objective on Cheesecake Factory from $40.00 to $47.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. UBS Group raised their price objective on Cheesecake Factory from $32.00 to $36.00 and gave the stock a "sell" rating in a research note on Friday, October 25th. StockNews.com downgraded Cheesecake Factory from a "buy" rating to a "hold" rating in a research report on Tuesday. Stephens lifted their price target on Cheesecake Factory from $50.00 to $51.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Finally, Barclays upped their price objective on Cheesecake Factory from $38.00 to $44.00 and gave the stock an "underweight" rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $44.75.

Cheesecake Factory Price Performance

Shares of Cheesecake Factory stock traded up $0.08 during trading on Thursday, reaching $48.40. 496,301 shares of the company's stock were exchanged, compared to its average volume of 970,642. The firm's 50-day moving average price is $41.51 and its 200 day moving average price is $39.24. Cheesecake Factory has a 1-year low of $30.96 and a 1-year high of $50.75. The company has a market cap of $2.47 billion, a P/E ratio of 18.56, a PEG ratio of 1.32 and a beta of 1.47. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44.

Hedge Funds Weigh In On Cheesecake Factory

Hedge funds have recently modified their holdings of the stock. Pathstone Holdings LLC boosted its position in Cheesecake Factory by 0.9% in the third quarter. Pathstone Holdings LLC now owns 37,540 shares of the restaurant operator's stock valued at $1,522,000 after buying an additional 329 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Cheesecake Factory by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 13,593 shares of the restaurant operator's stock worth $534,000 after buying an additional 337 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in Cheesecake Factory by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the restaurant operator's stock worth $927,000 after purchasing an additional 500 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Cheesecake Factory by 2.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 23,110 shares of the restaurant operator's stock valued at $937,000 after purchasing an additional 532 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Cheesecake Factory by 5.9% in the 1st quarter. ProShare Advisors LLC now owns 9,608 shares of the restaurant operator's stock worth $347,000 after purchasing an additional 537 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Keith Carango sold 13,095 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $49.88, for a total transaction of $653,178.60. Following the sale, the insider now directly owns 14,977 shares of the company's stock, valued at $747,052.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.10% of the company's stock.

Cheesecake Factory Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, November 13th will be given a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.23%. Cheesecake Factory's payout ratio is currently 41.06%.

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.