Brokerages forecast that Cheesecake Factory Inc (NASDAQ:CAKE) will announce earnings of $0.55 per share for the current quarter, according to Zacks. Ten analysts have issued estimates for Cheesecake Factory’s earnings, with estimates ranging from $0.52 to $0.57. Cheesecake Factory posted earnings per share of $0.62 in the same quarter last year, which would suggest a negative year over year growth rate of 11.3%. The company is expected to announce its next quarterly earnings report after the market closes on Tuesday, October 29th.
On average, analysts expect that Cheesecake Factory will report full year earnings of $2.62 per share for the current fiscal year, with EPS estimates ranging from $2.51 to $2.66. For the next year, analysts expect that the firm will report earnings of $2.78 per share, with EPS estimates ranging from $2.70 to $2.85. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Cheesecake Factory.
Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.01. The business had revenue of $602.65 million for the quarter, compared to the consensus estimate of $612.16 million. Cheesecake Factory had a return on equity of 21.31% and a net margin of 4.52%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.61 earnings per share.
A number of equities research analysts recently issued reports on CAKE shares. BidaskClub raised Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Tuesday, October 1st. ValuEngine raised Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Bank of America reissued a “neutral” rating and set a $46.00 price target (down previously from $51.00) on shares of Cheesecake Factory in a research report on Thursday, August 1st. Wells Fargo & Co raised Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research report on Friday, September 6th. Finally, Raymond James reduced their price target on Cheesecake Factory from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. Cheesecake Factory currently has a consensus rating of “Hold” and a consensus price target of $49.58.
NASDAQ:CAKE traded up $0.01 during trading hours on Thursday, reaching $38.44. 18,251 shares of the company were exchanged, compared to its average volume of 778,239. The company has a market capitalization of $1.76 billion, a P/E ratio of 15.80, a P/E/G ratio of 1.28 and a beta of 0.45. Cheesecake Factory has a 1-year low of $35.83 and a 1-year high of $52.91. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.36 and a quick ratio of 0.26. The business has a 50 day moving average of $39.76 and a 200 day moving average of $43.84.
In other Cheesecake Factory news, Director Edie A. Ames bought 750 shares of Cheesecake Factory stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $42.18 per share, with a total value of $31,635.00. Following the acquisition, the director now owns 3,880 shares in the company, valued at approximately $163,658.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Laurence B. Mindel purchased 2,500 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $39.04 per share, with a total value of $97,600.00. The disclosure for this purchase can be found here. Company insiders own 8.50% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Cheesecake Factory by 1.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,743,821 shares of the restaurant operator’s stock valued at $119,960,000 after acquiring an additional 42,476 shares during the last quarter. Macquarie Group Ltd. raised its position in Cheesecake Factory by 5.4% during the 2nd quarter. Macquarie Group Ltd. now owns 2,101,266 shares of the restaurant operator’s stock worth $91,867,000 after purchasing an additional 107,846 shares during the last quarter. Bank of New York Mellon Corp raised its position in Cheesecake Factory by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,718,492 shares of the restaurant operator’s stock worth $75,133,000 after purchasing an additional 47,597 shares during the last quarter. First Trust Advisors LP raised its position in Cheesecake Factory by 20.0% during the 2nd quarter. First Trust Advisors LP now owns 863,495 shares of the restaurant operator’s stock worth $37,752,000 after purchasing an additional 143,718 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in Cheesecake Factory by 1.1% during the 2nd quarter. Bessemer Group Inc. now owns 778,180 shares of the restaurant operator’s stock worth $34,022,000 after purchasing an additional 8,206 shares during the last quarter.
Cheesecake Factory Company Profile
The Cheesecake Factory Incorporated engages in the operation of restaurants. The company produces cheesecakes and other baked products for own restaurants and international licensees, as well as external foodservice operators, retailers, and distributors. As of April 16, 2019, it owned and operated 219 full-service casual-dining restaurants in the United States, including Puerto Rico and Canada comprising 202 restaurants under The Cheesecake Factory name; 14 restaurants under the Grand Lux Café name; and 2 restaurants under the RockSugar Southeast Asian Kitchen name, as well as 22 The Cheesecake Factory restaurants under licensing agreements internationally.
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