Wedbush Comments on The Cheesecake Factory Incorporated's Q2 2024 Earnings (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) - Research analysts at Wedbush increased their Q2 2024 earnings per share estimates for shares of Cheesecake Factory in a note issued to investors on Thursday, May 2nd. Wedbush analyst N. Setyan now expects that the restaurant operator will earn $1.06 per share for the quarter, up from their previous estimate of $1.05. Wedbush currently has a "Outperform" rating and a $40.00 price objective on the stock. The consensus estimate for Cheesecake Factory's current full-year earnings is $3.06 per share. Wedbush also issued estimates for Cheesecake Factory's Q4 2024 earnings at $0.98 EPS, Q1 2025 earnings at $0.79 EPS, Q2 2025 earnings at $1.15 EPS, Q3 2025 earnings at $0.59 EPS and Q4 2025 earnings at $1.15 EPS.

CAKE has been the topic of several other reports. Piper Sandler upped their target price on Cheesecake Factory from $33.00 to $37.00 and gave the company a "neutral" rating in a research report on Thursday, February 22nd. Barclays increased their price target on shares of Cheesecake Factory from $32.00 to $33.00 and gave the stock an "underweight" rating in a report on Thursday, February 22nd. Stephens restated an "overweight" rating and set a $44.00 price objective on shares of Cheesecake Factory in a research note on Friday, April 12th. JPMorgan Chase & Co. lowered shares of Cheesecake Factory from a "neutral" rating to an "underweight" rating and set a $33.00 price target on the stock. in a report on Tuesday, January 23rd. Finally, Oppenheimer reaffirmed a "market perform" rating on shares of Cheesecake Factory in a report on Thursday, February 22nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $34.60.

Cheesecake Factory Stock Performance

CAKE stock traded up $0.20 during trading on Friday, reaching $33.67. The company had a trading volume of 942,374 shares, compared to its average volume of 816,036. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.37 and a current ratio of 0.46. Cheesecake Factory has a twelve month low of $28.58 and a twelve month high of $38.19. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 1.12 and a beta of 1.48. The firm has a 50-day simple moving average of $35.26 and a 200-day simple moving average of $33.86.

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

Cheesecake Factory Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend was Tuesday, March 5th. Cheesecake Factory's payout ratio is 52.43%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Cheesecake Factory during the 3rd quarter valued at about $612,000. Simplicity Solutions LLC raised its position in Cheesecake Factory by 3.4% in the third quarter. Simplicity Solutions LLC now owns 13,081 shares of the restaurant operator's stock valued at $396,000 after purchasing an additional 436 shares during the period. New York State Teachers Retirement System boosted its position in Cheesecake Factory by 3.6% in the 3rd quarter. New York State Teachers Retirement System now owns 74,035 shares of the restaurant operator's stock valued at $2,243,000 after buying an additional 2,577 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Cheesecake Factory by 40.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,148 shares of the restaurant operator's stock worth $307,000 after purchasing an additional 2,935 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Cheesecake Factory by 2.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,642 shares of the restaurant operator's stock worth $656,000 after buying an additional 487 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company's stock.

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.