Zacks: Analysts Expect Cheesecake Factory Inc (CAKE) Will Announce Quarterly Sales of $594.78 Million

Analysts expect that Cheesecake Factory Inc (NASDAQ:CAKE) will post $594.78 million in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Cheesecake Factory’s earnings, with the lowest sales estimate coming in at $587.18 million and the highest estimate coming in at $612.70 million. Cheesecake Factory posted sales of $571.82 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4%. The business is scheduled to issue its next earnings report on Wednesday, February 20th.

On average, analysts expect that Cheesecake Factory will report full-year sales of $2.36 billion for the current financial year, with estimates ranging from $2.35 billion to $2.38 billion. For the next financial year, analysts forecast that the company will report sales of $2.45 billion, with estimates ranging from $2.42 billion to $2.51 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Cheesecake Factory.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Tuesday, October 30th. The restaurant operator reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.04. The firm had revenue of $580.88 million for 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 company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 earnings per share.



Several research analysts have recently commented on CAKE shares. BidaskClub downgraded Cheesecake Factory from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. UBS Group downgraded Cheesecake Factory from a “buy” rating to a “neutral” rating in a report on Monday, October 15th. Gordon Haskett started coverage on Cheesecake Factory in a report on Thursday, October 18th. They issued a “hold” rating and a $53.00 price objective on the stock. Zacks Investment Research upgraded Cheesecake Factory from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, Loop Capital started coverage on Cheesecake Factory in a report on Wednesday, October 24th. They issued a “hold” rating and a $55.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $52.50.

Shares of CAKE traded up $0.19 during trading hours on Friday, hitting $46.11. The company had a trading volume of 617,000 shares, compared to its average volume of 894,025. The company has a market cap of $2.09 billion, a P/E ratio of 17.73, a P/E/G ratio of 1.19 and a beta of 0.40. The company has a current ratio of 0.45, a quick ratio of 0.33 and a debt-to-equity ratio of 0.03. Cheesecake Factory has a 52-week low of $41.63 and a 52-week high of $60.19.

In related news, insider Cheryl Slomann sold 7,500 shares of the business’s stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $49.21, for a total transaction of $369,075.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 8.80% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. Sei Investments Co. grew its stake in shares of Cheesecake Factory by 109.3% in the 2nd quarter. Sei Investments Co. now owns 7,056 shares of the restaurant operator’s stock valued at $388,000 after buying an additional 3,685 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Cheesecake Factory by 10.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 424,720 shares of the restaurant operator’s stock worth $23,386,000 after purchasing an additional 39,827 shares during the period. BlackRock Inc. boosted its position in Cheesecake Factory by 8.3% during the second quarter. BlackRock Inc. now owns 5,177,817 shares of the restaurant operator’s stock worth $285,089,000 after purchasing an additional 398,351 shares during the period. PNC Financial Services Group Inc. boosted its position in Cheesecake Factory by 33.6% during the second quarter. PNC Financial Services Group Inc. now owns 7,294 shares of the restaurant operator’s stock worth $401,000 after purchasing an additional 1,834 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new stake in Cheesecake Factory during the second quarter worth approximately $226,000. Institutional investors own 99.34% 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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