Wedbush Forecasts Stronger Earnings for Cheesecake Factory

The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) - Analysts at Wedbush lifted their FY2024 earnings per share (EPS) estimates for Cheesecake Factory in a research report issued on Wednesday, October 30th. Wedbush analyst N. Setyan now anticipates that the restaurant operator will post earnings of $3.30 per share for the year, up from their previous estimate of $3.21. Wedbush currently has a "Outperform" rating and a $52.00 target price on the stock. The consensus estimate for Cheesecake Factory's current full-year earnings is $3.22 per share. Wedbush also issued estimates for Cheesecake Factory's Q4 2024 earnings at $0.91 EPS.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. The firm had revenue of $865.50 million for the quarter, compared to the consensus estimate of $866.13 million. Cheesecake Factory had a return on equity of 45.66% and a net margin of 3.63%. The company's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 earnings per share.

CAKE has been the subject of a number of other reports. Stephens boosted their price objective on shares of Cheesecake Factory from $50.00 to $51.00 and gave the stock an "overweight" rating in a report on Wednesday. Bank of America boosted their target price on shares of Cheesecake Factory from $47.00 to $49.00 and gave the company a "neutral" rating in a research note on Wednesday. Robert W. Baird boosted their price objective on shares of Cheesecake Factory from $40.00 to $47.00 and gave the company a "neutral" rating in a research report on Wednesday. Citigroup boosted their price objective on shares of Cheesecake Factory from $46.00 to $51.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Finally, Barclays boosted their price objective on shares of Cheesecake Factory from $38.00 to $44.00 and gave the company an "underweight" rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $44.17.

Cheesecake Factory Stock Down 0.9 %

Cheesecake Factory stock traded down $0.40 during trading hours on Friday, hitting $45.82. 1,028,009 shares of the stock traded hands, compared to its average volume of 959,352. The firm's 50-day moving average price is $40.27 and its two-hundred day moving average price is $38.50. Cheesecake Factory has a one year low of $29.27 and a one year high of $49.75. The company has a market cap of $2.33 billion, a PE ratio of 17.42, a PEG ratio of 1.33 and a beta of 1.49. The company has a current ratio of 0.43, a quick ratio of 0.32 and a debt-to-equity ratio of 1.26.

Institutional Trading of Cheesecake Factory

Institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its position in Cheesecake Factory by 9.6% during the third quarter. Principal Financial Group Inc. now owns 255,595 shares of the restaurant operator's stock worth $10,364,000 after acquiring an additional 22,416 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Cheesecake Factory by 2.4% during the third quarter. Harbor Capital Advisors Inc. now owns 23,110 shares of the restaurant operator's stock worth $937,000 after acquiring an additional 532 shares during the last quarter. Oak Harvest Investment Services acquired a new position in Cheesecake Factory during the third quarter worth about $345,000. New York State Teachers Retirement System raised its stake in Cheesecake Factory by 5.5% during the third quarter. New York State Teachers Retirement System now owns 77,660 shares of the restaurant operator's stock worth $3,149,000 after purchasing an additional 4,053 shares during the period. Finally, Foundations Investment Advisors LLC purchased a new position in Cheesecake Factory during the third quarter worth about $227,000. Institutional investors and hedge funds own 94.48% of the company's stock.

Cheesecake Factory Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, November 13th will be given a $0.27 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.08 annualized dividend and a dividend yield of 2.36%. Cheesecake Factory's dividend payout ratio (DPR) is 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.