Cheesecake Factory (CAKE) Releases Quarterly Earnings, Misses Estimates By $0.02 EPS
Cheesecake Factory (NASDAQ:CAKE) posted its quarterly earnings results on Wednesday. The company reported $0.57 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.59 by $0.02, AnalystRatings.NET reports. The company had revenue of $475.10 million for the quarter, compared to the consensus estimate of $484.84 million. During the same quarter last year, the company posted $0.51 earnings per share. Cheesecake Factory’s revenue was up 2.2% compared to the same quarter last year.
Several analysts have recently commented on the stock. Analysts at Ned Davis Research upgraded shares of Cheesecake Factory from a “neutral” rating to a “buy” rating in a research note on Monday. On the ratings front, analysts at Buckingham Research initiated coverage on shares of Cheesecake Factory in a research note on Thursday, January 9th. They set a “buy” rating on the stock. Finally, analysts at UBS AG initiated coverage on shares of Cheesecake Factory in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $44.71.
Shares of Cheesecake Factory (NASDAQ:CAKE) traded down 0.53% during mid-day trading on Wednesday, hitting $45.35. The stock had a trading volume of 111,933 shares. Cheesecake Factory has a one year low of $32.64 and a one year high of $49.74. The stock has a 50-day moving average of $46.15 and a 200-day moving average of $45.37. The company has a market cap of $2.303 billion and a price-to-earnings ratio of 24.13. Cheesecake Factory also was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 4,983,940 shares, an increase of 36.5% from the January 15th total of 3,652,215 shares. Approximately 10.3% of the shares of the company are sold short. Based on an average daily volume of 1,038,790 shares, the days-to-cover ratio is currently 4.8 days.
The Cheesecake Factory Incorporated is engaged in the restaurant and bakery businesses. As of February 28, 2013, it operated 177 Company-owned upscale, casual dining, full-service restaurants: 162 under The Cheesecake Factory mark, 14 under the Grand Lux Cafe mark and one under the RockSugar Pan Asian Kitchen mark.
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