The Cheesecake Factory Incorporated (NASDAQ:CAKE) Forecasted to Post Q2 2024 Earnings of $0.98 Per Share

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Stock analysts at Zacks Research decreased their Q2 2024 earnings estimates for shares of Cheesecake Factory in a research report issued to clients and investors on Tuesday, May 21st. Zacks Research analyst H. Ray now anticipates that the restaurant operator will earn $0.98 per share for the quarter, down from their previous estimate of $1.00. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.13 per share. Zacks Research also issued estimates for Cheesecake Factory’s Q3 2024 earnings at $0.48 EPS, FY2024 earnings at $3.16 EPS, Q1 2025 earnings at $0.76 EPS, Q2 2025 earnings at $1.02 EPS, Q3 2025 earnings at $0.55 EPS, Q4 2025 earnings at $0.97 EPS, FY2025 earnings at $3.29 EPS, Q1 2026 earnings at $0.82 EPS and FY2026 earnings at $3.56 EPS.

Other analysts also recently issued reports about the stock. Raymond James raised shares of Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Thursday, May 9th. Oppenheimer reaffirmed a “market perform” rating on shares of Cheesecake Factory in a report on Thursday, February 22nd. Bank of America raised their price objective on shares of Cheesecake Factory from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, May 15th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cheesecake Factory from $37.00 to $38.00 and gave the stock a “hold” rating in a report on Thursday, May 9th. Finally, Citigroup raised shares of Cheesecake Factory from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $38.00 to $47.00 in a report on Friday, May 10th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Cheesecake Factory has a consensus rating of “Hold” and an average target price of $39.00.

Cheesecake Factory Price Performance

Shares of Cheesecake Factory stock opened at $37.59 on Wednesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.43 and a quick ratio of 0.33. Cheesecake Factory has a fifty-two week low of $28.58 and a fifty-two week high of $41.25. The firm has a fifty day moving average price of $35.62 and a two-hundred day moving average price of $34.52. The company has a market cap of $1.92 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.20 and a beta of 1.48.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Wednesday, May 8th. The restaurant operator reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. Cheesecake Factory had a net margin of 3.07% and a return on equity of 42.15%. The firm had revenue of $891.22 million during the quarter, compared to the consensus estimate of $890.49 million. During the same period in the prior year, the firm earned $0.61 EPS. The business’s revenue was up 2.9% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. South Dakota Investment Council bought a new position in shares of Cheesecake Factory in the 4th quarter valued at about $844,000. Sapient Capital LLC bought a new position in shares of Cheesecake Factory in the 4th quarter valued at about $6,827,000. Envestnet Asset Management Inc. boosted its stake in shares of Cheesecake Factory by 46.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 411,017 shares of the restaurant operator’s stock valued at $12,454,000 after purchasing an additional 131,295 shares during the last quarter. Advisors Preferred LLC bought a new position in shares of Cheesecake Factory in the 4th quarter valued at about $2,335,000. Finally, IPG Investment Advisors LLC bought a new position in shares of Cheesecake Factory in the 3rd quarter valued at about $2,246,000. Institutional investors own 94.48% of the company’s stock.

Insider Buying and Selling at Cheesecake Factory

In other Cheesecake Factory news, insider Keith Carango sold 3,785 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $40.10, for a total value of $151,778.50. Following the completion of the sale, the insider now owns 28,072 shares in the company, valued at approximately $1,125,687.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.10% of the company’s stock.

Cheesecake Factory Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 22nd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.87%. The ex-dividend date is Tuesday, May 21st. Cheesecake Factory’s payout ratio is presently 49.54%.

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.