FY2024 EPS Estimate for Cheesecake Factory Raised by Analyst

The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) - Equities researchers at Wedbush raised their FY2024 earnings per share (EPS) estimates for Cheesecake Factory in a report issued on Friday, February 14th. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings of $3.33 per share for the year, up from their prior forecast of $3.30. Wedbush currently has a "Outperform" rating and a $61.00 target price on the stock. The consensus estimate for Cheesecake Factory's current full-year earnings is $3.32 per share. Wedbush also issued estimates for Cheesecake Factory's Q4 2024 earnings at $0.93 EPS.

A number of other equities research analysts have also recently weighed in on CAKE. Raymond James lifted their price objective on Cheesecake Factory from $51.00 to $56.00 and gave the company an "outperform" rating in a research note on Monday, December 16th. StockNews.com lowered shares of Cheesecake Factory from a "buy" rating to a "hold" rating in a research note on Thursday, November 28th. Stephens reissued an "overweight" rating and issued a $60.00 price objective on shares of Cheesecake Factory in a research note on Thursday. The Goldman Sachs Group upped their target price on shares of Cheesecake Factory from $56.00 to $64.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Finally, Bank of America raised their target price on shares of Cheesecake Factory from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $52.19.

Cheesecake Factory Price Performance

Shares of CAKE stock traded up $0.68 during trading hours on Monday, reaching $54.97. The company had a trading volume of 2,630,523 shares, compared to its average volume of 1,418,639. Cheesecake Factory has a 12-month low of $33.05 and a 12-month high of $57.32. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.34 and a beta of 1.51. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44. The stock has a fifty day moving average of $50.96 and a 200-day moving average of $45.25.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its earnings results on Wednesday, February 19th. The restaurant operator reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.13. The business had revenue of $920.96 million during the quarter, compared to analysts' expectations of $912.67 million. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CAKE. Golden State Wealth Management LLC purchased a new position in shares of Cheesecake Factory during the fourth quarter worth about $25,000. Versant Capital Management Inc increased its holdings in shares of Cheesecake Factory by 108.1% in the fourth quarter. Versant Capital Management Inc now owns 616 shares of the restaurant operator's stock valued at $29,000 after purchasing an additional 320 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Cheesecake Factory during the fourth quarter worth approximately $43,000. Venturi Wealth Management LLC lifted its holdings in shares of Cheesecake Factory by 1,149.5% during the fourth quarter. Venturi Wealth Management LLC now owns 1,312 shares of the restaurant operator's stock worth $62,000 after purchasing an additional 1,207 shares during the period. Finally, KBC Group NV grew its position in Cheesecake Factory by 46.9% in the 4th quarter. KBC Group NV now owns 2,321 shares of the restaurant operator's stock valued at $110,000 after buying an additional 741 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Cheesecake Factory Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.96%. The ex-dividend date is Wednesday, March 5th. Cheesecake Factory's payout ratio is currently 41.06%.

About Cheesecake Factory

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.