Wall Street analysts predict that Cheesecake Factory Inc (NASDAQ:CAKE) will report sales of $670.23 million for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Cheesecake Factory’s earnings, with the highest sales estimate coming in at $709.42 million and the lowest estimate coming in at $601.70 million. Cheesecake Factory reported sales of $585.16 million in the same quarter last year, which indicates a positive year-over-year growth rate of 14.5%. The business is scheduled to announce its next quarterly earnings results on Wednesday, February 19th.
According to Zacks, analysts expect that Cheesecake Factory will report full year sales of $2.46 billion for the current year, with estimates ranging from $2.39 billion to $2.50 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.94 billion, with estimates ranging from $2.91 billion to $2.97 billion. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for Cheesecake Factory.
Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Tuesday, October 29th. The restaurant operator reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.04. Cheesecake Factory had a return on equity of 21.61% and a net margin of 3.99%. The firm had revenue of $586.50 million during the quarter, compared to analysts’ expectations of $597.76 million. During the same period in the prior year, the company earned $0.61 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis.
A number of research analysts have recently commented on the company. Wedbush set a $40.00 price target on Cheesecake Factory and gave the company a “hold” rating in a research note on Friday, October 25th. Goldman Sachs Group began coverage on Cheesecake Factory in a research note on Thursday, December 12th. They issued a “neutral” rating and a $41.00 price target for the company. Deutsche Bank restated a “hold” rating and issued a $43.00 price objective on shares of Cheesecake Factory in a report on Thursday, October 31st. BidaskClub downgraded Cheesecake Factory from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 24th. Finally, Raymond James downgraded Cheesecake Factory from an “outperform” rating to a “market perform” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $46.85.
In other news, President David M. Gordon sold 3,700 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $42.98, for a total value of $159,026.00. Following the completion of the sale, the president now directly owns 25,816 shares in the company, valued at approximately $1,109,571.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Edie A. Ames bought 760 shares of Cheesecake Factory stock in a transaction dated Wednesday, November 6th. The stock was purchased at an average price of $43.25 per share, with a total value of $32,870.00. Following the completion of the purchase, the director now owns 4,640 shares in the company, valued at $200,680. The disclosure for this purchase can be found here. Company insiders own 8.50% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Parametric Portfolio Associates LLC lifted its position in Cheesecake Factory by 42.3% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 294,600 shares of the restaurant operator’s stock valued at $12,279,000 after acquiring an additional 87,620 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Cheesecake Factory by 1.6% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,743,821 shares of the restaurant operator’s stock worth $119,960,000 after buying an additional 42,476 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of Cheesecake Factory during the 3rd quarter worth approximately $786,000. Bridge City Capital LLC lifted its position in shares of Cheesecake Factory by 27.7% during the 3rd quarter. Bridge City Capital LLC now owns 27,560 shares of the restaurant operator’s stock worth $1,149,000 after buying an additional 5,971 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Cheesecake Factory by 19.0% during the 3rd quarter. California Public Employees Retirement System now owns 115,718 shares of the restaurant operator’s stock worth $4,823,000 after buying an additional 18,461 shares in the last quarter. Institutional investors own 99.42% of the company’s stock.
Shares of CAKE traded up $0.10 during trading hours on Friday, reaching $39.74. The stock had a trading volume of 336,265 shares, compared to its average volume of 596,811. Cheesecake Factory has a 12 month low of $35.83 and a 12 month high of $51.15. The stock has a market capitalization of $1.77 billion, a PE ratio of 16.35, a PEG ratio of 1.31 and a beta of 0.42. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.93 and a current ratio of 1.04. The company’s 50-day moving average is $40.96 and its two-hundred day moving average is $41.20.
About Cheesecake Factory
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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