Cheesecake Factory (CAKE) Issues Q4 Earnings Guidance

Cheesecake Factory (NASDAQ:CAKE) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.60-0.64 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.64.

CAKE traded up $1.20 during trading hours on Tuesday, hitting $49.05. 2,002,579 shares of the stock were exchanged, compared to its average volume of 938,376. Cheesecake Factory has a 12 month low of $41.50 and a 12 month high of $60.19. The stock has a market capitalization of $2.23 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.39 and a beta of 0.24. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.48 and a quick ratio of 0.38.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Tuesday, July 31st. The restaurant operator reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.16). Cheesecake Factory had a return on equity of 17.87% and a net margin of 6.00%. The firm had revenue of $593.20 million for the quarter, compared to the consensus estimate of $592.40 million. During the same quarter last year, the business earned $0.78 earnings per share. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, research analysts anticipate that Cheesecake Factory will post 2.43 earnings per share for the current fiscal year.

Several equities analysts recently issued reports on CAKE shares. BidaskClub upgraded Cheesecake Factory from a buy rating to a strong-buy rating in a research note on Tuesday, July 24th. Bank of America raised their target price on Cheesecake Factory from $55.00 to $60.00 and gave the company a neutral rating in a research note on Tuesday, July 24th. Barclays raised their target price on Cheesecake Factory from $52.00 to $56.00 and gave the company a $58.55 rating in a research note on Wednesday, July 18th. Jefferies Financial Group reiterated a hold rating and issued a $52.00 target price on shares of Cheesecake Factory in a research note on Friday, July 13th. Finally, UBS Group cut Cheesecake Factory from a buy rating to a neutral rating in a research note on Monday, October 15th. Seventeen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $52.44.

In other Cheesecake Factory news, insider Cheryl Slomann sold 1,005 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $52.94, for a total value of $53,204.70. Following the sale, the insider now directly owns 12,106 shares in the company, valued at $640,891.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edie A. Ames bought 500 shares of the business’s stock in a transaction on Wednesday, August 22nd. The stock was bought at an average price of $52.83 per share, for a total transaction of $26,415.00. Following the completion of the purchase, the director now directly owns 1,430 shares of the company’s stock, valued at approximately $75,546.90. The disclosure for this purchase can be found here. Company insiders own 8.80% of the company’s stock.

About Cheesecake Factory

The Cheesecake Factory Incorporated operates restaurants in the United States. The company produces cheesecakes and other baked products for own restaurants and international licensees, as well as external foodservice operators, retailers, and distributors. As of August 21, 2018, it operated 215 company-owned restaurants, including 199 restaurants under The Cheesecake Factory brand; 14 restaurants under the Grand Lux Cafe brand; and 2 restaurants under the RockSugar Southeast Asian Kitchen brand, as well as 21 The Cheesecake Factory branded restaurants under licensing agreements internationally.

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

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