Equities Analysts Issue Forecasts for CAKE FY2024 Earnings

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Equities researchers at William Blair raised their FY2024 EPS estimates for Cheesecake Factory in a report released on Monday, January 20th. William Blair analyst S. Zackfia now anticipates that the restaurant operator will post earnings of $3.33 per share for the year, up from their prior estimate of $3.31. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.31 per share. William Blair also issued estimates for Cheesecake Factory’s Q4 2024 earnings at $0.93 EPS, Q1 2025 earnings at $0.93 EPS, Q2 2025 earnings at $1.09 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $1.09 EPS, FY2025 earnings at $3.70 EPS and FY2026 earnings at $4.08 EPS.

Several other research analysts have also recently weighed in on CAKE. Oppenheimer upgraded shares of Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Tuesday, January 7th. UBS Group upped their price target on Cheesecake Factory from $36.00 to $41.00 and gave the company a “sell” rating in a research note on Tuesday, January 7th. Wedbush raised their price target on Cheesecake Factory from $52.00 to $59.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. StockNews.com cut Cheesecake Factory from a “buy” rating to a “hold” rating in a report on Thursday, November 28th. Finally, Barclays raised their target price on shares of Cheesecake Factory from $38.00 to $44.00 and gave the company an “underweight” rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Cheesecake Factory currently has a consensus rating of “Hold” and an average target price of $49.40.

Cheesecake Factory Stock Up 6.2 %

Shares of NASDAQ CAKE opened at $51.79 on Wednesday. Cheesecake Factory has a 12-month low of $32.76 and a 12-month high of $52.10. The firm’s 50-day simple moving average is $48.92 and its 200 day simple moving average is $42.99. 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 company has a market cap of $2.64 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 1.21 and a beta of 1.50.

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

Institutional Investors Weigh In On Cheesecake Factory

A number of institutional investors have recently made changes to their positions in CAKE. Versant Capital Management Inc boosted its stake in Cheesecake Factory by 108.1% in the 4th quarter. Versant Capital Management Inc now owns 616 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 320 shares during the period. Glenmede Trust Co. NA acquired a new stake in shares of Cheesecake Factory during the third quarter worth $223,000. Foundations Investment Advisors LLC bought a new stake in shares of Cheesecake Factory in the third quarter valued at about $227,000. Commonwealth Equity Services LLC grew its stake in shares of Cheesecake Factory by 13.4% in the second quarter. Commonwealth Equity Services LLC now owns 6,771 shares of the restaurant operator’s stock valued at $266,000 after acquiring an additional 802 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in Cheesecake Factory during the fourth quarter worth about $270,000. Institutional investors own 94.48% of the company’s stock.

Insider Activity at Cheesecake Factory

In related news, insider Keith Carango sold 13,095 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $49.88, for a total value of $653,178.60. Following the completion of the sale, the insider now directly owns 14,977 shares in the company, valued at approximately $747,052.76. This trade represents a 46.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.10% of the stock is owned by insiders.

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.