What is William Blair’s Forecast for CAKE FY2024 Earnings?

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Stock analysts at William Blair raised their FY2024 earnings per share (EPS) estimates for shares of Cheesecake Factory in a note issued to investors on Tuesday, October 29th. William Blair analyst S. Zackfia now forecasts that the restaurant operator will post earnings per share of $3.31 for the year, up from their prior forecast of $3.19. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.22 per share. William Blair also issued estimates for Cheesecake Factory’s FY2025 earnings at $3.64 EPS.

Cheesecake Factory (NASDAQ:CAKE) last released 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 firm had revenue of $865.50 million during the quarter, compared to the consensus estimate of $866.13 million. Cheesecake Factory had a net margin of 3.63% and a return on equity of 45.66%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.39 earnings per share.

A number of other brokerages also recently commented on CAKE. Bank of America lifted their target price on Cheesecake Factory from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday. Stephens increased their target price on Cheesecake Factory from $50.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of Cheesecake Factory from $38.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, August 6th. Finally, Citigroup boosted their target price on shares of Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $44.17.

Cheesecake Factory Trading Down 0.9 %

NASDAQ CAKE opened at $45.82 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.32 and a current ratio of 0.43. Cheesecake Factory has a one year low of $29.27 and a one year high of $49.75. The company has a 50-day simple moving average of $40.27 and a 200-day simple moving average of $38.50. The firm has a market capitalization of $2.33 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 1.33 and a beta of 1.49.

Hedge Funds Weigh In On Cheesecake Factory

Several hedge funds have recently modified their holdings of CAKE. Allspring Global Investments Holdings LLC boosted its stake in Cheesecake Factory by 2,360.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 661 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Cheesecake Factory by 276.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock worth $57,000 after purchasing an additional 1,064 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Cheesecake Factory in the 2nd quarter worth approximately $67,000. SG Americas Securities LLC acquired a new stake in Cheesecake Factory during the first quarter valued at approximately $121,000. Finally, Avantax Advisory Services Inc. bought a new stake in Cheesecake Factory during the first quarter worth approximately $202,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Cheesecake Factory Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, November 13th will be given a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.08 dividend on an annualized basis and a yield of 2.36%. Cheesecake Factory’s dividend payout ratio (DPR) is 41.06%.

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.