The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Rating) – Equities researchers at Wedbush reduced their Q1 2023 EPS estimates for shares of Cheesecake Factory in a research note issued on Friday, April 22nd. Wedbush analyst N. Setyan now forecasts that the restaurant operator will earn $0.79 per share for the quarter, down from their prior forecast of $0.81. Wedbush has a “Outperform” rating and a $52.00 price target on the stock. Wedbush also issued estimates for Cheesecake Factory’s Q4 2023 earnings at $0.86 EPS and FY2023 earnings at $3.35 EPS.
Several other equities analysts also recently weighed in on CAKE. StockNews.com began coverage on Cheesecake Factory in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Stephens boosted their price objective on Cheesecake Factory from $47.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, February 17th. Citigroup initiated coverage on Cheesecake Factory in a report on Tuesday, April 12th. They set a “buy” rating and a $52.00 price objective for the company. Morgan Stanley dropped their price objective on Cheesecake Factory from $39.00 to $36.00 and set an “underweight” rating for the company in a report on Thursday, April 14th. Finally, Raymond James dropped their price objective on Cheesecake Factory from $52.50 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, January 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Cheesecake Factory currently has a consensus rating of “Hold” and a consensus target price of $51.36.
NASDAQ:CAKE opened at $37.71 on Monday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.64 and a quick ratio of 0.57. Cheesecake Factory has a 1 year low of $31.43 and a 1 year high of $65.81. The stock’s 50 day simple moving average is $38.26 and its two-hundred day simple moving average is $39.63. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 36.97, a PEG ratio of 1.53 and a beta of 1.47.
Cheesecake Factory (NASDAQ:CAKE – Get Rating) last posted its quarterly earnings data on Wednesday, February 16th. The restaurant operator reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.10). Cheesecake Factory had a net margin of 2.47% and a return on equity of 37.60%. The company had revenue of $776.69 million for the quarter, compared to analysts’ expectations of $774.52 million. During the same period in the previous year, the firm earned ($0.32) earnings per share. The firm’s quarterly revenue was up 40.1% on a year-over-year basis.
Several hedge funds have recently made changes to their positions in the company. Frontier Capital Management Co. LLC grew its holdings in Cheesecake Factory by 204.5% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,371,581 shares of the restaurant operator’s stock worth $53,697,000 after acquiring an additional 921,127 shares during the period. Castle Hook Partners LP acquired a new stake in Cheesecake Factory during the third quarter worth about $30,051,000. Scopia Capital Management LP acquired a new stake in Cheesecake Factory during the third quarter worth about $24,702,000. Bamco Inc. NY grew its holdings in Cheesecake Factory by 31.7% during the third quarter. Bamco Inc. NY now owns 1,579,860 shares of the restaurant operator’s stock worth $74,253,000 after acquiring an additional 379,860 shares during the period. Finally, Norges Bank acquired a new stake in Cheesecake Factory during the fourth quarter worth about $13,440,000. 85.28% of the stock is currently owned by institutional investors and hedge funds.
About Cheesecake Factory (Get Rating)
The Cheesecake Factory Incorporated operates restaurants. It operates two bakeries that produces cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors. The company owns and operates 306 restaurants throughout the United States and Canada under brands, including 208 The Cheesecake Factory and 29 North Italia; and a collection of Fox Restaurant Concepts, as well as 29 The Cheesecake Factory restaurants under licensing agreements internationally.
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