Brokers Offer Predictions for The Cheesecake Factory Incorporated’s Q3 2024 Earnings (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Equities research analysts at Wedbush cut their Q3 2024 EPS estimates for shares of Cheesecake Factory in a research report issued to clients and investors on Thursday, August 1st. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings of $0.51 per share for the quarter, down from their previous estimate of $0.55. Wedbush has a “Outperform” rating and a $45.00 price target on the stock. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.21 per share. Wedbush also issued estimates for Cheesecake Factory’s Q4 2024 earnings at $0.89 EPS, FY2024 earnings at $3.22 EPS, Q1 2025 earnings at $0.92 EPS, Q2 2025 earnings at $1.19 EPS, Q3 2025 earnings at $0.57 EPS and Q4 2025 earnings at $1.06 EPS.

CAKE has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted their price objective on Cheesecake Factory from $34.00 to $40.00 and gave the company an “underweight” rating in a research report on Tuesday, May 28th. Bank of America lifted their price target on Cheesecake Factory from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, May 15th. Wells Fargo & Company increased their price objective on shares of Cheesecake Factory from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday. Robert W. Baird boosted their target price on shares of Cheesecake Factory from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Stephens reaffirmed an “overweight” rating and set a $50.00 price target on shares of Cheesecake Factory in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $40.25.

Cheesecake Factory Trading Down 4.7 %

Shares of CAKE opened at $35.10 on Friday. Cheesecake Factory has a fifty-two week low of $28.58 and a fifty-two week high of $41.25. The company 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 stock has a fifty day moving average of $38.68 and a two-hundred 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 (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Cheesecake Factory had a net margin of 3.32% and a return on equity of 45.30%. The business had revenue of $904.04 million during the quarter, compared to analyst estimates of $909.19 million. During the same quarter in the previous year, the business posted $0.88 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis.

Hedge Funds Weigh In On Cheesecake Factory

A number of institutional investors have recently made changes to their positions in the business. 1492 Capital Management LLC increased its stake in shares of Cheesecake Factory by 0.9% in the fourth quarter. 1492 Capital Management LLC now owns 32,015 shares of the restaurant operator’s stock worth $1,121,000 after buying an additional 293 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Cheesecake Factory by 2.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,140 shares of the restaurant operator’s stock worth $775,000 after purchasing an additional 498 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Cheesecake Factory by 2.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the restaurant operator’s stock valued at $927,000 after purchasing an additional 500 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Cheesecake Factory by 48.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,566 shares of the restaurant operator’s stock worth $55,000 after purchasing an additional 511 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Cheesecake Factory by 5.9% during the first quarter. ProShare Advisors LLC now owns 9,608 shares of the restaurant operator’s stock worth $347,000 after purchasing an additional 537 shares during the last quarter. 94.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cheesecake Factory

In related news, insider Keith Carango sold 3,785 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $40.10, for a total value of $151,778.50. Following the transaction, the insider now 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 at this hyperlink. 8.10% of the stock is currently owned by corporate insiders.

Cheesecake Factory Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Wednesday, August 14th will be given a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.08 dividend on an annualized basis and a yield of 3.08%. Cheesecake Factory’s payout ratio is currently 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.