The Cheesecake Factory Incorporated to Post FY2018 Earnings of $2.73 Per Share, Wedbush Forecasts (CAKE)
The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Research analysts at Wedbush cut their FY2018 earnings per share estimates for The Cheesecake Factory in a research report issued to clients and investors on Thursday. Wedbush analyst N. Setyan now anticipates that the restaurant operator will post earnings per share of $2.73 for the year, down from their previous forecast of $3.09. Wedbush currently has a “Buy” rating on the stock.
The Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, August 2nd. The restaurant operator reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. The business had revenue of $569.87 million during the quarter, compared to analysts’ expectations of $573.12 million. The Cheesecake Factory had a net margin of 6.10% and a return on equity of 22.92%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm posted $0.78 earnings per share. WARNING: “The Cheesecake Factory Incorporated to Post FY2018 Earnings of $2.73 Per Share, Wedbush Forecasts (CAKE)” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The original version of this article can be read at https://www.americanbankingnews.com/2017/08/07/the-cheesecake-factory-incorporated-to-post-fy2018-earnings-of-2-73-per-share-wedbush-forecasts-cake.html.
Several other brokerages also recently issued reports on CAKE. Zacks Investment Research raised shares of The Cheesecake Factory from a “sell” rating to a “hold” rating in a report on Tuesday, April 25th. Maxim Group reissued a “hold” rating and set a $65.00 price target (up from $59.00) on shares of The Cheesecake Factory in a report on Monday, May 1st. Jefferies Group LLC raised shares of The Cheesecake Factory from an “underperform” rating to a “hold” rating and set a $52.00 price target for the company in a report on Tuesday, June 13th. They noted that the move was a valuation call. Robert W. Baird reissued a “neutral” rating and set a $57.00 price target (down from $60.00) on shares of The Cheesecake Factory in a report on Wednesday, June 14th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $56.00 price target (down from $62.00) on shares of The Cheesecake Factory in a report on Wednesday, June 14th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. The Cheesecake Factory currently has an average rating of “Hold” and a consensus price target of $55.18.
The Cheesecake Factory (NASDAQ:CAKE) opened at 45.13 on Monday. The company has a market capitalization of $2.08 billion, a PE ratio of 15.79 and a beta of 0.31. The stock has a 50 day moving average of $50.13 and a 200 day moving average of $58.36. The Cheesecake Factory has a 12-month low of $44.02 and a 12-month high of $67.14.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of The Cheesecake Factory by 21,381.3% in the first quarter. BlackRock Inc. now owns 4,842,308 shares of the restaurant operator’s stock worth $306,812,000 after buying an additional 4,819,766 shares in the last quarter. FMR LLC boosted its position in The Cheesecake Factory by 445.8% in the first quarter. FMR LLC now owns 545,840 shares of the restaurant operator’s stock valued at $34,584,000 after buying an additional 445,840 shares during the period. AQR Capital Management LLC boosted its position in The Cheesecake Factory by 52.2% in the first quarter. AQR Capital Management LLC now owns 1,125,972 shares of the restaurant operator’s stock valued at $71,342,000 after buying an additional 386,165 shares during the period. Marshall Wace North America L.P. boosted its position in The Cheesecake Factory by 1,407.1% in the second quarter. Marshall Wace North America L.P. now owns 393,218 shares of the restaurant operator’s stock valued at $19,661,000 after buying an additional 367,127 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in The Cheesecake Factory by 367.8% in the first quarter. UBS Asset Management Americas Inc. now owns 379,140 shares of the restaurant operator’s stock valued at $24,022,000 after buying an additional 298,089 shares during the period. Hedge funds and other institutional investors own 96.40% of the company’s stock.
In related news, VP Debby R. Zurzolo sold 6,424 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $59.09, for a total transaction of $379,594.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.50% of the stock is currently owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Wednesday, August 16th will be issued a dividend of $0.29 per share. The ex-dividend date is Monday, August 14th. This represents a $1.16 dividend on an annualized basis and a yield of 2.57%. This is a boost from The Cheesecake Factory’s previous quarterly dividend of $0.24. The Cheesecake Factory’s payout ratio is currently 33.68%.
About The Cheesecake Factory
The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.
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