Cheesecake Factory (NASDAQ:CAKE) Releases Earnings Results, Beats Expectations By $0.09 EPS

Cheesecake Factory (NASDAQ:CAKE) announced its quarterly earnings results on Wednesday. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09, Briefing.com reports. The firm had revenue of $904.04 million during the quarter, compared to analyst estimates of $909.19 million. Cheesecake Factory had a return on equity of 45.30% and a net margin of 3.32%. Cheesecake Factory’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 earnings per share. Cheesecake Factory updated its FY 2024 guidance to EPS.

Cheesecake Factory Stock Performance

NASDAQ:CAKE traded down $1.75 during mid-day trading on Friday, hitting $35.10. The company’s stock had a trading volume of 2,125,273 shares, compared to its average volume of 1,113,960. Cheesecake Factory has a 1 year low of $28.58 and a 1 year high of $41.25. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.43 and a quick ratio of 0.33. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.07 and a beta of 1.51. The business’s fifty day moving average is $38.68 and its two-hundred day moving average is $36.47.

Cheesecake Factory Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Wednesday, August 14th will be given a $0.27 dividend. 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 payout ratio is 49.54%.

Insider Buying and Selling at Cheesecake Factory

In other Cheesecake Factory news, insider Keith Carango sold 3,785 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 28,072 shares of the company’s stock, valued at $1,125,687.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CAKE has been the subject of a number of recent research reports. Stephens reissued an “overweight” rating and issued a $50.00 price objective on shares of Cheesecake Factory in a research note on Thursday. Bank of America boosted their price objective on shares of Cheesecake Factory from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 15th. Robert W. Baird upped their price target on Cheesecake Factory from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday. Wells Fargo & Company upped their price target on Cheesecake Factory from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Barclays upped their price target on Cheesecake Factory from $32.00 to $35.00 and gave the stock an “underweight” 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 assigned a buy rating to the company. Based on data from MarketBeat.com, Cheesecake Factory has a consensus rating of “Hold” and an average price target of $40.25.

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.