Zacks Research Has Bullish Estimate for CAKE FY2024 Earnings

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Stock analysts at Zacks Research raised their FY2024 earnings per share estimates for Cheesecake Factory in a report issued on Tuesday, November 12th. Zacks Research analyst H. Ray now expects that the restaurant operator will post earnings of $3.30 per share for the year, up from their prior estimate of $3.23. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.30 per share. Zacks Research also issued estimates for Cheesecake Factory’s Q4 2024 earnings at $0.90 EPS, Q1 2025 earnings at $0.85 EPS, Q2 2025 earnings at $1.15 EPS, Q3 2025 earnings at $0.56 EPS, Q4 2025 earnings at $0.97 EPS, FY2025 earnings at $3.52 EPS, Q1 2026 earnings at $0.89 EPS, Q2 2026 earnings at $1.23 EPS, Q3 2026 earnings at $0.64 EPS and FY2026 earnings at $3.74 EPS.

Several other equities analysts also recently commented on CAKE. Stephens upped their target price on Cheesecake Factory from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Bank of America increased their price target on Cheesecake Factory from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. decreased their price target on Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday, August 6th. UBS Group increased their price target on Cheesecake Factory from $32.00 to $36.00 and gave the stock a “sell” rating in a report on Friday, October 25th. Finally, Citigroup lifted their target price on Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Cheesecake Factory has a consensus rating of “Hold” and an average price target of $44.75.

Cheesecake Factory Price Performance

NASDAQ:CAKE opened at $48.06 on Thursday. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.19. The stock’s 50 day moving average price is $41.91 and its two-hundred day moving average price is $39.40. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 1.32 and a beta of 1.47. Cheesecake Factory has a 12-month low of $30.96 and a 12-month high of $50.75.

Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.11. Cheesecake Factory had a return on equity of 43.90% and a net margin of 3.63%. The business had revenue of $865.50 million for the quarter, compared to analyst estimates of $866.13 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. Cheesecake Factory’s revenue was up 4.3% on a year-over-year basis.

Cheesecake Factory Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.08 dividend on an annualized basis and a yield of 2.25%. Cheesecake Factory’s dividend payout ratio is presently 41.06%.

Insider Buying and Selling at Cheesecake Factory

In other news, insider Keith Carango sold 13,095 shares of Cheesecake Factory stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $49.88, for a total value of $653,178.60. Following the sale, the insider now directly owns 14,977 shares of the company’s stock, valued at approximately $747,052.76. The trade was a 46.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Earnest Partners LLC grew its position in Cheesecake Factory by 2.8% in the second quarter. Earnest Partners LLC now owns 2,831,381 shares of the restaurant operator’s stock worth $111,245,000 after acquiring an additional 76,578 shares in the last quarter. State Street Corp boosted its position in shares of Cheesecake Factory by 3.7% during the third quarter. State Street Corp now owns 1,876,295 shares of the restaurant operator’s stock valued at $76,084,000 after buying an additional 67,550 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Cheesecake Factory by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,241,272 shares of the restaurant operator’s stock valued at $48,772,000 after buying an additional 43,128 shares during the period. American Century Companies Inc. boosted its position in shares of Cheesecake Factory by 31.1% during the second quarter. American Century Companies Inc. now owns 942,694 shares of the restaurant operator’s stock valued at $37,038,000 after buying an additional 223,497 shares during the period. Finally, William Blair Investment Management LLC boosted its position in shares of Cheesecake Factory by 8.0% during the second quarter. William Blair Investment Management LLC now owns 819,328 shares of the restaurant operator’s stock valued at $32,191,000 after buying an additional 60,545 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.