The Cheesecake Factory Incorporated to Post Q3 2024 Earnings of $0.52 Per Share, William Blair Forecasts (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Analysts at William Blair raised their Q3 2024 earnings estimates for Cheesecake Factory in a research note issued to investors on Wednesday, July 31st. William Blair analyst S. Zackfia now expects that the restaurant operator will earn $0.52 per share for the quarter, up from their prior estimate of $0.46. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.21 per share. William Blair also issued estimates for Cheesecake Factory’s Q4 2024 earnings at $0.86 EPS, FY2024 earnings at $3.20 EPS and FY2025 earnings at $3.63 EPS.

Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Wednesday, July 31st. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Cheesecake Factory had a return on equity of 45.30% and a net margin of 3.32%. The business had revenue of $904.04 million for the quarter, compared to analyst estimates of $909.19 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Cheesecake Factory from $34.00 to $40.00 and gave the company an “underweight” rating in a research report on Tuesday, May 28th. Wells Fargo & Company lifted their price target on Cheesecake Factory from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday. Robert W. Baird upped their price objective on Cheesecake Factory from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday. Citigroup raised Cheesecake Factory from a “neutral” rating to a “buy” rating and raised their target price for the company from $38.00 to $47.00 in a report on Friday, May 10th. Finally, Wedbush reiterated an “outperform” rating and issued a $45.00 price target on shares of Cheesecake Factory in a report on Thursday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $40.25.

Cheesecake Factory Stock Down 4.7 %

CAKE stock opened at $35.10 on Friday. The stock has a market capitalization of $1.79 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.07 and a beta of 1.51. The company has a fifty day moving average of $38.68 and a 200-day moving average of $36.50. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.33 and a current ratio of 0.43. Cheesecake Factory has a one year low of $28.58 and a one year high of $41.25.

Cheesecake Factory Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Wednesday, August 14th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Wednesday, August 14th. Cheesecake Factory’s dividend payout ratio (DPR) is 49.54%.

Insider Activity

In related news, insider Keith Carango sold 3,785 shares of the business’s stock in a transaction that occurred on 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 directly owns 28,072 shares in the company, valued at $1,125,687.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. William Blair Investment Management LLC increased its position in shares of Cheesecake Factory by 0.8% in the first quarter. William Blair Investment Management LLC now owns 758,783 shares of the restaurant operator’s stock worth $27,430,000 after acquiring an additional 6,166 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Cheesecake Factory by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 559,492 shares of the restaurant operator’s stock worth $19,588,000 after purchasing an additional 13,352 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Cheesecake Factory by 0.7% in the second quarter. Natixis Advisors LLC now owns 530,497 shares of the restaurant operator’s stock worth $20,843,000 after buying an additional 3,872 shares during the period. Natixis Advisors L.P. grew its stake in shares of Cheesecake Factory by 8.6% in the fourth quarter. Natixis Advisors L.P. now owns 529,375 shares of the restaurant operator’s stock valued at $18,533,000 after buying an additional 41,907 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in shares of Cheesecake Factory by 4.8% during the 1st quarter. First Eagle Investment Management LLC now owns 400,099 shares of the restaurant operator’s stock valued at $14,464,000 after buying an additional 18,250 shares during the period. Hedge funds and other institutional investors own 94.48% of the company’s stock.

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.