FY2024 EPS Estimate for Cheesecake Factory Lifted by Analyst

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Research analysts at William Blair raised their FY2024 EPS estimates for shares of 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 per share of $3.33 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 earnings results 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 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 EPS.

CAKE has been the subject of several other reports. Wells Fargo & Company boosted their target price on shares of Cheesecake Factory from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Bank of America increased their target price on shares of Cheesecake Factory from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Oppenheimer raised Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $65.00 price target for the company in a research report on Tuesday, January 7th. Raymond James increased their price objective on Cheesecake Factory from $51.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Finally, UBS Group raised their price objective on Cheesecake Factory from $36.00 to $41.00 and gave the company a “sell” rating in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Cheesecake Factory presently has a consensus rating of “Hold” and a consensus price target of $49.40.

Cheesecake Factory Trading Up 6.2 %

NASDAQ:CAKE opened at $51.79 on Wednesday. The company has a market capitalization of $2.64 billion, a P/E ratio of 19.69, a P/E/G ratio of 1.21 and a beta of 1.50. The stock’s 50 day moving average price is $48.92 and its 200 day moving average price is $42.99. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44. Cheesecake Factory has a 52 week low of $32.76 and a 52 week high of $52.10.

Institutional Trading of Cheesecake Factory

Institutional investors and hedge funds have recently modified their holdings of the company. Hennessy Advisors Inc. bought a new position in Cheesecake Factory in the fourth quarter worth $63,114,000. JCP Investment Management LLC acquired a new stake in shares of Cheesecake Factory during the 2nd quarter valued at about $5,149,000. Victory Capital Management Inc. increased its stake in Cheesecake Factory by 32.7% in the third quarter. Victory Capital Management Inc. now owns 403,271 shares of the restaurant operator’s stock valued at $16,353,000 after acquiring an additional 99,341 shares during the period. Earnest Partners LLC raised its position in Cheesecake Factory by 2.8% in the second quarter. Earnest Partners LLC now owns 2,831,381 shares of the restaurant operator’s stock worth $111,245,000 after purchasing an additional 76,578 shares in the last quarter. Finally, State Street Corp lifted its stake in Cheesecake Factory by 3.7% during the third quarter. State Street Corp now owns 1,876,295 shares of the restaurant operator’s stock worth $76,084,000 after purchasing an additional 67,550 shares during the period. 94.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cheesecake Factory news, insider Keith Carango sold 13,095 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $49.88, for a total value of $653,178.60. Following the completion of the transaction, the insider now owns 14,977 shares of the company’s stock, valued at $747,052.76. This represents a 46.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company 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.