Q2 2024 EPS Estimates for The Cheesecake Factory Incorporated Reduced by William Blair (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Investment analysts at William Blair reduced their Q2 2024 EPS estimates for shares of Cheesecake Factory in a note issued to investors on Thursday, May 9th. William Blair analyst S. Zackfia now expects that the restaurant operator will post earnings of $1.01 per share for the quarter, down from their previous estimate of $1.05. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.13 per share. William Blair also issued estimates for Cheesecake Factory’s Q3 2024 earnings at $0.46 EPS and Q4 2024 earnings at $0.89 EPS.

Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, May 8th. The restaurant operator reported $0.73 earnings per share (EPS) 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 company had revenue of $891.22 million during the quarter, compared to analyst estimates of $890.49 million. During the same quarter last year, the business posted $0.61 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis.

Other equities research analysts have also issued research reports about the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Cheesecake Factory in a research note on Thursday, February 22nd. Robert W. Baird boosted their target price on shares of Cheesecake Factory from $32.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday. Piper Sandler boosted their target price on shares of Cheesecake Factory from $33.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Barclays cut their target price on shares of Cheesecake Factory from $33.00 to $32.00 and set an “underweight” rating for the company in a research report on Thursday. Finally, Wells Fargo & Company boosted their target price on shares of Cheesecake Factory from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $37.67.

Cheesecake Factory Stock Up 4.4 %

CAKE stock opened at $37.65 on Monday. The company has a current ratio of 0.43, a quick ratio of 0.37 and a debt-to-equity ratio of 1.42. Cheesecake Factory has a 1 year low of $28.58 and a 1 year high of $38.19. The company has a fifty day simple moving average of $35.20 and a 200 day simple moving average of $34.09. The firm has a market cap of $1.92 billion, a PE ratio of 17.27, a PEG ratio of 1.23 and a beta of 1.48.

Hedge Funds Weigh In On Cheesecake Factory

Hedge funds have recently modified their holdings of the stock. First Eagle Investment Management LLC increased its position 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 worth $14,464,000 after purchasing an additional 18,250 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in Cheesecake Factory by 38.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 19,215 shares of the restaurant operator’s stock worth $673,000 after buying an additional 5,360 shares during the last quarter. William Blair Investment Management LLC increased its holdings in shares of Cheesecake Factory by 0.8% during the first quarter. William Blair Investment Management LLC now owns 758,783 shares of the restaurant operator’s stock worth $27,430,000 after buying an additional 6,166 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Cheesecake Factory by 5.9% in the first quarter. ProShare Advisors LLC now owns 9,608 shares of the restaurant operator’s stock valued at $347,000 after acquiring an additional 537 shares during the last quarter. Finally, Avantax Advisory Services Inc. acquired a new position in shares of Cheesecake Factory in the 1st quarter worth approximately $202,000. 94.48% of the stock is owned by institutional investors and hedge funds.

Cheesecake Factory Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors 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 of this dividend is Tuesday, May 21st. Cheesecake Factory’s dividend payout ratio (DPR) is presently 49.54%.

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.