Equities Analysts Offer Predictions for CAKE FY2024 Earnings

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – William Blair upped their FY2024 earnings estimates for Cheesecake Factory in a note issued to investors 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 forecast 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.

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

Several other analysts have also recently commented on CAKE. StockNews.com cut shares of Cheesecake Factory from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Citigroup increased their target price on shares of Cheesecake Factory from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, October 4th. The Goldman Sachs Group initiated coverage on shares of Cheesecake Factory in a report on Thursday, December 5th. They issued a “buy” rating and a $56.00 target price on the stock. Robert W. Baird raised their price objective on shares of Cheesecake Factory from $40.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, UBS Group raised their price objective on shares of Cheesecake Factory from $36.00 to $41.00 and gave the stock a “sell” rating in a report on Tuesday, January 7th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Cheesecake Factory currently has a consensus rating of “Hold” and an average target price of $49.40.

Cheesecake Factory Price Performance

Shares of Cheesecake Factory stock opened at $51.53 on Wednesday. Cheesecake Factory has a 1-year low of $33.05 and a 1-year high of $52.90. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.19. The firm’s 50-day moving average price is $49.04 and its two-hundred day moving average price is $43.11. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 1.28 and a beta of 1.50.

Institutional Trading of Cheesecake Factory

Several hedge funds and other institutional investors have recently modified their holdings of CAKE. Versant Capital Management Inc raised 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 worth $29,000 after purchasing an additional 320 shares in the last quarter. Pathstone Holdings LLC increased its position in Cheesecake Factory by 0.9% during the 3rd quarter. Pathstone Holdings LLC now owns 37,540 shares of the restaurant operator’s stock worth $1,522,000 after purchasing an additional 329 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Cheesecake Factory by 2.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 23,110 shares of the restaurant operator’s stock worth $937,000 after purchasing an additional 532 shares in the last quarter. Atria Investments Inc increased its position in Cheesecake Factory by 8.2% during the 3rd quarter. Atria Investments Inc now owns 9,074 shares of the restaurant operator’s stock worth $368,000 after purchasing an additional 689 shares in the last quarter. Finally, KBC Group NV increased its position in Cheesecake Factory by 46.9% during the 4th quarter. KBC Group NV now owns 2,321 shares of the restaurant operator’s stock worth $110,000 after purchasing an additional 741 shares in the last quarter. Institutional investors own 94.48% of the company’s stock.

Insider Activity

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

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.