Brokerages Expect Cheesecake Factory Inc (CAKE) Will Announce Quarterly Sales of $566.10 Million

Analysts expect that Cheesecake Factory Inc (NASDAQ:CAKE) will post sales of $566.10 million for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for Cheesecake Factory’s earnings, with the lowest sales estimate coming in at $562.30 million and the highest estimate coming in at $569.71 million. Cheesecake Factory posted sales of $603.15 million in the same quarter last year, which suggests a negative year-over-year growth rate of 6.1%. The business is scheduled to report its next earnings report on Wednesday, February 28th.

On average, analysts expect that Cheesecake Factory will report full year sales of $566.10 million for the current year, with estimates ranging from $2.25 billion to $2.27 billion. For the next financial year, analysts forecast that the firm will post sales of $2.34 billion per share, with estimates ranging from $2.32 billion to $2.37 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Cheesecake Factory.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Wednesday, November 1st. The restaurant operator reported $0.56 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.04). The firm had revenue of $555.40 million during the quarter, compared to analyst estimates of $566.09 million. Cheesecake Factory had a return on equity of 21.65% and a net margin of 5.76%. Cheesecake Factory’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 earnings per share.

A number of brokerages recently commented on CAKE. Maxim Group lowered their price objective on Cheesecake Factory from $57.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, November 2nd. Nomura reduced their target price on Cheesecake Factory from $44.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. BTIG Research restated a “buy” rating and set a $50.00 target price on shares of Cheesecake Factory in a report on Wednesday, September 20th. Stephens reduced their target price on Cheesecake Factory from $48.00 to $45.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 11th. Finally, Morgan Stanley reduced their target price on Cheesecake Factory from $48.00 to $44.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. Cheesecake Factory has an average rating of “Hold” and an average price target of $48.00.

Shares of Cheesecake Factory (CAKE) opened at $50.21 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.51 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2,297.96, a PE ratio of 18.39, a P/E/G ratio of 1.32 and a beta of 0.33. Cheesecake Factory has a 12-month low of $38.34 and a 12-month high of $67.14.

In other news, VP Debby R. Zurzolo sold 2,415 shares of Cheesecake Factory stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $44.20, for a total transaction of $106,743.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Herbert Simon acquired 25,000 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were acquired at an average price of $43.50 per share, for a total transaction of $1,087,500.00. The disclosure for this purchase can be found here. Insiders own 8.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tiedemann Wealth Management LLC lifted its stake in Cheesecake Factory by 22.9% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 17,347 shares of the restaurant operator’s stock valued at $134,000 after acquiring an additional 3,237 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Cheesecake Factory by 17.6% in 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 in the last quarter. Riverhead Capital Management LLC lifted its stake in Cheesecake Factory by 105.5% in 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 in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Cheesecake Factory in the 2nd quarter valued at approximately $205,000. Finally, Advisors Asset Management Inc. lifted its stake in Cheesecake Factory by 7.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,834 shares of the restaurant operator’s stock valued at $243,000 after acquiring an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

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About 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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