Cheesecake Factory Inc to Post FY2019 Earnings of $2.65 Per Share, Oppenheimer Forecasts (CAKE)

Cheesecake Factory Inc (NASDAQ:CAKE) – Analysts at Oppenheimer reduced their FY2019 EPS estimates for Cheesecake Factory in a research report issued to clients and investors on Wednesday, January 9th. Oppenheimer analyst B. Bittner now anticipates that the restaurant operator will post earnings of $2.65 per share for the year, down from their previous forecast of $2.69.

Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Tuesday, October 30th. The restaurant operator reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $580.88 million during the quarter, compared to the consensus estimate of $585.44 million. Cheesecake Factory had a return on equity of 18.02% and a net margin of 6.02%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 earnings per share.



Several other equities research analysts have also recently weighed in on the company. Raymond James raised Cheesecake Factory from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Maxim Group raised Cheesecake Factory from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Wednesday, December 19th. BidaskClub cut Cheesecake Factory from a “buy” rating to a “hold” rating in a research note on Tuesday, December 4th. Barclays reduced their price target on Cheesecake Factory from $47.00 to $44.00 and set an “underweight” rating on the stock in a research note on Thursday, November 29th. Finally, ValuEngine cut Cheesecake Factory from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $52.50.

Shares of Cheesecake Factory stock opened at $46.11 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.45 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.09 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.19 and a beta of 0.40. Cheesecake Factory has a 52 week low of $41.63 and a 52 week high of $60.19.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc grew its stake in shares of Cheesecake Factory by 2.2% in the third quarter. Vanguard Group Inc now owns 3,754,760 shares of the restaurant operator’s stock worth $201,030,000 after acquiring an additional 79,378 shares during the last quarter. Federated Investors Inc. PA grew its stake in shares of Cheesecake Factory by 68.5% in the third quarter. Federated Investors Inc. PA now owns 17,441 shares of the restaurant operator’s stock worth $934,000 after acquiring an additional 7,088 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Cheesecake Factory by 17.7% in the third quarter. Marshall Wace LLP now owns 133,648 shares of the restaurant operator’s stock worth $7,156,000 after acquiring an additional 20,138 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Cheesecake Factory by 2.2% during the third quarter. Vanguard Group Inc. now owns 3,754,760 shares of the restaurant operator’s stock valued at $201,030,000 after buying an additional 79,378 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Cheesecake Factory by 5.6% during the third quarter. Legal & General Group Plc now owns 44,469 shares of the restaurant operator’s stock valued at $2,380,000 after buying an additional 2,376 shares during the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Cheryl Slomann sold 7,500 shares of the stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $49.21, for a total value of $369,075.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate 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 November 20, 2018, it operated 217 company-owned restaurants, including 201 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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