What is William Blair's Forecast for CAKE FY2024 Earnings?

The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) - Equities research analysts at William Blair upped their FY2024 earnings per share estimates for Cheesecake Factory in a report issued on Monday, January 20th. William Blair analyst S. Zackfia now forecasts that the restaurant operator will earn $3.33 per share for the year, up from their prior estimate of $3.31. The consensus estimate for Cheesecake Factory's current full-year earnings is $3.31 per share. William Blair also issued estimates for Cheesecake Factory's Q4 2024 earnings at $0.93 EPS, Q1 2025 earnings at $0.93 EPS, Q2 2025 earnings at $1.09 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $1.09 EPS, FY2025 earnings at $3.70 EPS and FY2026 earnings at $4.08 EPS.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last posted its earnings results 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 net margin of 3.63% and a return on equity of 43.90%. The company had revenue of $865.50 million for the quarter, compared to analyst estimates of $866.13 million. During the same period last year, the business posted $0.39 earnings per share. The business's revenue for the quarter was up 4.3% compared to the same quarter last year.

Other research analysts have also issued research reports about the stock. Robert W. Baird lifted their price target on shares of Cheesecake Factory from $40.00 to $47.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price objective on Cheesecake Factory from $38.00 to $45.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Bank of America upped their price objective on Cheesecake Factory from $47.00 to $49.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Raymond James raised their target price on shares of Cheesecake Factory from $51.00 to $56.00 and gave the company an "outperform" rating in a research note on Monday, December 16th. Finally, UBS Group upped their price objective on shares of Cheesecake Factory from $36.00 to $41.00 and gave the company a "sell" rating in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Cheesecake Factory currently has an average rating of "Hold" and a consensus target price of $49.40.

Cheesecake Factory Stock Down 1.6 %

Shares of NASDAQ CAKE traded down $0.84 during mid-day trading on Wednesday, reaching $50.95. 1,715,328 shares of the company's stock were exchanged, compared to its average volume of 1,426,343. Cheesecake Factory has a twelve month low of $33.05 and a twelve month high of $52.90. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.21 and a beta of 1.50. The business has a fifty day simple moving average of $48.97 and a 200 day simple moving average of $43.05.

Institutional Investors Weigh In On Cheesecake Factory

Large investors have recently modified their holdings of the company. Versant Capital Management Inc increased its holdings in shares of Cheesecake Factory by 108.1% during the fourth quarter. Versant Capital Management Inc now owns 616 shares of the restaurant operator's stock valued at $29,000 after acquiring an additional 320 shares in the last quarter. KBC Group NV increased its stake in Cheesecake Factory by 46.9% during the 4th quarter. KBC Group NV now owns 2,321 shares of the restaurant operator's stock valued at $110,000 after purchasing an additional 741 shares in the last quarter. Glenmede Trust Co. NA bought a new stake in Cheesecake Factory during the 3rd quarter valued at $223,000. Foundations Investment Advisors LLC acquired a new position in Cheesecake Factory during the third quarter worth $227,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Cheesecake Factory in the fourth quarter valued at $270,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Cheesecake Factory news, insider Keith Carango sold 13,095 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were 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. The trade was a 46.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.10% of the stock is owned by corporate insiders.

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.