Zacks: Brokerages Anticipate The Cheesecake Factory Incorporated (CAKE) to Post $0.61 EPS
Wall Street analysts expect The Cheesecake Factory Incorporated (NASDAQ:CAKE) to report earnings per share (EPS) of $0.61 for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for The Cheesecake Factory’s earnings, with estimates ranging from $0.60 to $0.64. The Cheesecake Factory posted earnings per share of $0.70 in the same quarter last year, which indicates a negative year-over-year growth rate of 12.9%. The company is expected to issue its next earnings report on Wednesday, October 25th.
On average, analysts expect that The Cheesecake Factory will report full year earnings of $2.66 per share for the current financial year, with EPS estimates ranging from $2.62 to $2.68. For the next fiscal year, analysts anticipate that the business will report earnings of $2.84 per share, with EPS estimates ranging from $2.54 to $2.97. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow The Cheesecake Factory.
The Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, August 2nd. The restaurant operator reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.02. The firm had revenue of $569.87 million for the quarter, compared to analyst estimates of $573.12 million. The Cheesecake Factory had a net margin of 6.10% and a return on equity of 22.92%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 earnings per share.
A number of brokerages have weighed in on CAKE. BidaskClub downgraded The Cheesecake Factory from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Robert W. Baird reissued a “neutral” rating and set a $57.00 price target (down previously from $60.00) on shares of The Cheesecake Factory in a report on Wednesday, June 14th. Bank of America Corporation restated a “neutral” rating and set a $62.00 price objective (down from $67.00) on shares of The Cheesecake Factory in a research report on Wednesday, June 14th. Jefferies Group LLC upgraded The Cheesecake Factory from an “underperform” rating to a “hold” rating and set a $52.00 price objective for the company in a research report on Tuesday, June 13th. They noted that the move was a valuation call. Finally, Nomura reduced their price objective on The Cheesecake Factory from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $52.41.
A number of large investors have recently added to or reduced their stakes in CAKE. BlackRock Inc. lifted its position in shares of The Cheesecake Factory by 21,381.3% in the 1st quarter. BlackRock Inc. now owns 4,842,308 shares of the restaurant operator’s stock worth $306,812,000 after purchasing an additional 4,819,766 shares during the period. Vanguard Group Inc. boosted its stake in shares of The Cheesecake Factory by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 4,171,917 shares of the restaurant operator’s stock valued at $209,847,000 after purchasing an additional 146,756 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of The Cheesecake Factory by 3.9% in the 1st quarter. Wellington Management Group LLP now owns 1,846,350 shares of the restaurant operator’s stock valued at $116,985,000 after purchasing an additional 69,832 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of The Cheesecake Factory by 11.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,587,785 shares of the restaurant operator’s stock valued at $79,866,000 after purchasing an additional 161,779 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of The Cheesecake Factory by 4.3% in the 2nd quarter. State Street Corp now owns 1,526,476 shares of the restaurant operator’s stock valued at $76,779,000 after purchasing an additional 63,301 shares during the last quarter. 96.22% of the stock is owned by institutional investors and hedge funds.
The Cheesecake Factory (NASDAQ:CAKE) traded up 0.17% during midday trading on Wednesday, reaching $42.36. The company had a trading volume of 244,889 shares. The stock’s 50 day moving average is $41.30 and its 200 day moving average is $52.39. The Cheesecake Factory has a one year low of $38.34 and a one year high of $67.14. The company has a market capitalization of $1.94 billion, a PE ratio of 14.82 and a beta of 0.32.
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The Cheesecake Factory Company Profile
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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