Wall Street analysts forecast that The Cheesecake Factory Incorporated (NASDAQ:CAKE) will post $564.23 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for The Cheesecake Factory’s earnings, with estimates ranging from $548.51 million to $573.30 million. The Cheesecake Factory reported sales of $560.02 million during the same quarter last year, which would suggest a positive year over year growth rate of 0.8%. The firm is expected to issue its next earnings report after the market closes on Wednesday, October 25th.

On average, analysts expect that The Cheesecake Factory will report full year sales of $564.23 million for the current year, with estimates ranging from $2.24 billion to $2.28 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.36 billion per share, with estimates ranging from $2.33 billion to $2.38 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover The Cheesecake Factory.

The Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Wednesday, August 2nd. The restaurant operator reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.02. The Cheesecake Factory had a net margin of 6.10% and a return on equity of 22.92%. The company had revenue of $569.87 million for the quarter, compared to analyst estimates of $573.12 million. During the same period in the prior year, the business earned $0.78 earnings per share. The Cheesecake Factory’s quarterly revenue was up 2.0% on a year-over-year basis.

Several equities research analysts recently commented on CAKE shares. Jefferies Group LLC upgraded shares of The Cheesecake Factory from an “underperform” rating to a “hold” rating and set a $52.00 target price on the stock in a research report on Tuesday, June 13th. They noted that the move was a valuation call. Robert W. Baird reiterated a “neutral” rating and set a $57.00 target price (down from $60.00) on shares of The Cheesecake Factory in a research report on Wednesday, June 14th. Morgan Stanley reiterated an “equal weight” rating and set a $56.00 target price (down from $62.00) on shares of The Cheesecake Factory in a research report on Wednesday, June 14th. Bank of America Corporation reiterated a “neutral” rating and set a $62.00 target price (down from $67.00) on shares of The Cheesecake Factory in a research report on Wednesday, June 14th. Finally, Argus downgraded shares of The Cheesecake Factory from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. The Cheesecake Factory has an average rating of “Hold” and an average target price of $52.41.

Several institutional investors have recently added to or reduced their stakes in CAKE. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of The Cheesecake Factory by 32.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,621 shares of the restaurant operator’s stock valued at $103,000 after acquiring an additional 395 shares during the period. Parallel Advisors LLC lifted its position in shares of The Cheesecake Factory by 13.5% during the 1st quarter. Parallel Advisors LLC now owns 1,974 shares of the restaurant operator’s stock valued at $132,000 after acquiring an additional 235 shares during the period. Victory Capital Management Inc. lifted its position in shares of The Cheesecake Factory by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,216 shares of the restaurant operator’s stock valued at $162,000 after acquiring an additional 482 shares during the period. Riverhead Capital Management LLC lifted its position in shares of The Cheesecake Factory by 105.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,493 shares of the restaurant operator’s stock valued at $176,000 after acquiring an additional 1,793 shares during the period. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of The Cheesecake Factory during the 2nd quarter valued at $205,000. Institutional investors own 96.22% of the company’s stock.

The Cheesecake Factory (CAKE) opened at 41.35 on Friday. The Cheesecake Factory has a 12 month low of $38.34 and a 12 month high of $67.14. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 14.46 and a beta of 0.32. The stock’s 50 day moving average is $41.13 and its 200-day moving average is $52.23.

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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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Earnings History and Estimates for The Cheesecake Factory (NASDAQ:CAKE)

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