Wall Street analysts forecast that The Cheesecake Factory Incorporated (NASDAQ:CAKE) will post sales of $779.38 million for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Cheesecake Factory’s earnings. The lowest sales estimate is $765.47 million and the highest is $792.00 million. Cheesecake Factory posted sales of $554.55 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 40.5%. The company is scheduled to report its next quarterly earnings report on Wednesday, February 16th.
On average, analysts expect that Cheesecake Factory will report full-year sales of $2.93 billion for the current financial year, with estimates ranging from $2.92 billion to $2.94 billion. For the next fiscal year, analysts anticipate that the business will report sales of $3.29 billion, with estimates ranging from $3.23 billion to $3.38 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Cheesecake Factory.
Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Wednesday, November 3rd. The restaurant operator reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.05). The business had revenue of $754.50 million during the quarter, compared to the consensus estimate of $763.45 million. Cheesecake Factory had a return on equity of 25.01% and a net margin of 1.40%. Cheesecake Factory’s revenue was up 45.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.33) earnings per share.
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A number of research analysts have recently commented on CAKE shares. Stephens raised their target price on Cheesecake Factory from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Friday, November 5th. Deutsche Bank Aktiengesellschaft reduced their target price on Cheesecake Factory from $50.00 to $47.00 and set a “hold” rating for the company in a report on Thursday, November 4th. Raymond James reduced their target price on Cheesecake Factory from $60.00 to $52.50 and set an “outperform” rating for the company in a report on Thursday, November 4th. Credit Suisse Group raised their price target on Cheesecake Factory from $52.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 4th. Finally, Jefferies Financial Group upgraded Cheesecake Factory from a “hold” rating to a “buy” rating and raised their price target for the stock from $55.00 to $60.00 in a research note on Friday, September 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $52.46.
Shares of CAKE stock opened at $38.32 on Friday. The stock has a market capitalization of $2.00 billion, a PE ratio of 294.79, a P/E/G ratio of 2.16 and a beta of 1.59. Cheesecake Factory has a 1-year low of $34.64 and a 1-year high of $65.81. The business has a 50-day moving average of $41.96 and a 200 day moving average of $46.61. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.56 and a quick ratio of 0.48.
In other news, Director Edie A. Ames bought 1,650 shares of the business’s stock in a transaction that occurred on Wednesday, November 10th. The shares were purchased at an average cost of $45.12 per share, with a total value of $74,448.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.70% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its stake in Cheesecake Factory by 17.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,858 shares of the restaurant operator’s stock worth $101,000 after purchasing an additional 281 shares in the last quarter. Trustcore Financial Services LLC lifted its stake in Cheesecake Factory by 2.2% in the 3rd quarter. Trustcore Financial Services LLC now owns 13,275 shares of the restaurant operator’s stock worth $624,000 after purchasing an additional 285 shares in the last quarter. Comerica Bank lifted its stake in Cheesecake Factory by 0.8% in the 2nd quarter. Comerica Bank now owns 37,720 shares of the restaurant operator’s stock worth $1,563,000 after purchasing an additional 316 shares in the last quarter. Voya Investment Management LLC increased its holdings in shares of Cheesecake Factory by 1.9% during the 3rd quarter. Voya Investment Management LLC now owns 17,748 shares of the restaurant operator’s stock worth $834,000 after buying an additional 329 shares during the last quarter. Finally, Advisor Group Holdings Inc. increased its holdings in shares of Cheesecake Factory by 3.4% during the 3rd quarter. Advisor Group Holdings Inc. now owns 10,308 shares of the restaurant operator’s stock worth $484,000 after buying an additional 337 shares during the last quarter. 82.49% of the stock is currently owned by hedge funds and other institutional investors.
Cheesecake Factory Company Profile
Cheesecake Factory, Inc engages in the operation of restaurant chains. It operates through The Cheesecake Factory, North Italia, Other FRC and Other segments. The Cheesecake Factory segment offers appetizers, pizza, seafood, steaks, chicken, burgers, small plates, pastas, salads, sandwiches and omelettes, and a selection of gluten-free items.
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