William Blair Comments on The Cheesecake Factory Incorporated's Q3 2024 Earnings (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) - Equities research analysts at William Blair increased their Q3 2024 earnings per share (EPS) estimates for shares of Cheesecake Factory in a research note issued to investors on Wednesday, April 24th. William Blair analyst S. Zackfia now anticipates that the restaurant operator will post earnings per share of $0.43 for the quarter, up from their prior forecast of $0.40. The consensus estimate for Cheesecake Factory's current full-year earnings is $3.06 per share. William Blair also issued estimates for Cheesecake Factory's Q4 2024 earnings at $0.97 EPS.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its earnings results on Wednesday, February 21st. The restaurant operator reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.07. The business had revenue of $877.00 million for the quarter, compared to analyst estimates of $876.17 million. Cheesecake Factory had a return on equity of 41.66% and a net margin of 2.95%. The business's quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.56 EPS.

Other analysts have also recently issued reports about the company. Stephens reissued an "overweight" rating and issued a $44.00 price target on shares of Cheesecake Factory in a report on Friday, April 12th. Barclays boosted their target price on Cheesecake Factory from $32.00 to $33.00 and gave the stock an "underweight" rating in a research report on Thursday, February 22nd. Piper Sandler boosted their target price on Cheesecake Factory from $33.00 to $37.00 and gave the stock a "neutral" rating in a research report on Thursday, February 22nd. Oppenheimer restated a "market perform" rating on shares of Cheesecake Factory in a research report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. downgraded Cheesecake Factory from a "neutral" rating to an "underweight" rating and set a $33.00 price objective on the stock. in a research report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Cheesecake Factory currently has a consensus rating of "Hold" and a consensus target price of $35.64.

Cheesecake Factory Stock Performance

NASDAQ:CAKE traded up $0.47 during mid-day trading on Friday, reaching $35.36. 721,128 shares of the stock were exchanged, compared to its average volume of 823,972. The company has a 50 day simple moving average of $35.31 and a 200-day simple moving average of $33.74. Cheesecake Factory has a 1 year low of $28.58 and a 1 year high of $38.19. The stock has a market capitalization of $1.80 billion, a P/E ratio of 17.16, a P/E/G ratio of 1.17 and a beta of 1.48. The company has a quick ratio of 0.37, a current ratio of 0.46 and a debt-to-equity ratio of 1.48.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Studio Investment Management LLC bought a new stake in shares of Cheesecake Factory in the 3rd quarter worth approximately $25,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cheesecake Factory by 2,360.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator's stock worth $25,000 after purchasing an additional 661 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in Cheesecake Factory in the 4th quarter valued at approximately $26,000. Quadrant Capital Group LLC increased its position in Cheesecake Factory by 48.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,566 shares of the restaurant operator's stock valued at $55,000 after acquiring an additional 511 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Cheesecake Factory in the 3rd quarter valued at approximately $70,000. Institutional investors own 94.48% of the company's stock.

Cheesecake Factory Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, March 6th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Tuesday, March 5th. Cheesecake Factory's dividend payout ratio is currently 52.43%.

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.