Zacks: Analysts Anticipate Cheesecake Factory Inc (CAKE) Will Post Quarterly Sales of $566.10 Million

Wall Street analysts expect that Cheesecake Factory Inc (NASDAQ:CAKE) will post sales of $566.10 million for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Cheesecake Factory’s earnings, with estimates ranging from $562.30 million to $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 expected to announce its next earnings results on Wednesday, February 28th.

According to Zacks, analysts expect that Cheesecake Factory will report full year sales of $566.10 million for the current financial year, with estimates ranging from $2.25 billion to $2.27 billion. For the next financial year, analysts forecast that the company will post sales of $2.34 billion per share, with estimates ranging from $2.32 billion to $2.37 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Cheesecake Factory.

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

CAKE has been the topic of a number of analyst reports. Wedbush cut shares of Cheesecake Factory from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $52.00 to $44.00 in a research note on Tuesday, September 26th. Stephens reduced their price target on shares of Cheesecake Factory from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 11th. Barclays reduced their price target on shares of Cheesecake Factory from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 18th. Wells Fargo & Co reduced their price target on shares of Cheesecake Factory from $46.00 to $43.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 24th. Finally, Zacks Investment Research upgraded shares of Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $48.81.

Cheesecake Factory (NASDAQ:CAKE) traded up $0.56 during midday trading on Tuesday, reaching $48.90. 1,262,700 shares of the company were exchanged, compared to its average volume of 1,007,893. The company has a market capitalization of $2,250.00, a PE ratio of 18.04, a P/E/G ratio of 1.25 and a beta of 0.33. Cheesecake Factory has a twelve month low of $38.34 and a twelve month high of $67.14. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.37 and a current ratio of 0.51.

In other news, VP Debby R. Zurzolo sold 2,306 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $44.75, for a total transaction of $103,193.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Herbert Simon bought 25,000 shares of Cheesecake Factory stock in a transaction dated Monday, November 6th. The shares were bought 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. 8.40% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Cheesecake Factory by 54.8% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,457,364 shares of the restaurant operator’s stock valued at $103,504,000 after purchasing an additional 869,579 shares during the last quarter. First Trust Advisors LP lifted its position in Cheesecake Factory by 750.5% during the third quarter. First Trust Advisors LP now owns 580,508 shares of the restaurant operator’s stock valued at $24,451,000 after buying an additional 512,255 shares during the period. Renaissance Technologies LLC purchased a new position in Cheesecake Factory during the second quarter valued at $25,369,000. Epoch Investment Partners Inc. lifted its position in Cheesecake Factory by 207.7% during the third quarter. Epoch Investment Partners Inc. now owns 734,252 shares of the restaurant operator’s stock valued at $30,926,000 after buying an additional 495,642 shares during the period. Finally, Koch Industries Inc. purchased a new position in Cheesecake Factory during the second quarter valued at $353,000. Institutional investors own 97.54% of the company’s stock.

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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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