Cheesecake Factory Inc (NASDAQ:CAKE) Expected to Post Earnings of $0.61 Per Share

Analysts expect Cheesecake Factory Inc (NASDAQ:CAKE) to announce earnings per share (EPS) of $0.61 for the current quarter, Zacks reports. Nine analysts have issued estimates for Cheesecake Factory’s earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.66. Cheesecake Factory reported earnings of $0.60 per share during the same quarter last year, which suggests a positive year over year growth rate of 1.7%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, February 19th.

On average, analysts expect that Cheesecake Factory will report full-year earnings of $2.64 per share for the current financial year, with EPS estimates ranging from $2.56 to $2.69. For the next fiscal year, analysts anticipate that the business will post earnings of $2.76 per share, with EPS estimates ranging from $2.65 to $2.85. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Cheesecake Factory.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.04. The firm had revenue of $586.50 million for the quarter, compared to analysts’ expectations of $597.76 million. Cheesecake Factory had a return on equity of 21.61% and a net margin of 3.99%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 EPS.

Several brokerages recently issued reports on CAKE. Wedbush set a $40.00 price target on Cheesecake Factory and gave the company a “hold” rating in a research report on Friday, October 25th. ValuEngine upgraded Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley dropped their target price on Cheesecake Factory from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, October 18th. Stephens dropped their target price on Cheesecake Factory from $55.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. Finally, Wells Fargo & Co upgraded Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $46.77.

Shares of CAKE stock opened at $40.19 on Tuesday. The stock has a market capitalization of $1.82 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.31 and a beta of 0.45. Cheesecake Factory has a 52-week low of $35.83 and a 52-week high of $51.15. The stock’s 50-day moving average price is $42.81 and its 200 day moving average price is $41.93. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 2.43.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Friday, November 8th. Cheesecake Factory’s payout ratio is 59.26%.

In other Cheesecake Factory news, President David M. Gordon sold 3,700 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $42.98, for a total transaction of $159,026.00. Following the transaction, the president now owns 25,816 shares in the company, valued at approximately $1,109,571.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edie A. Ames purchased 760 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was purchased at an average price of $43.25 per share, for a total transaction of $32,870.00. Following the acquisition, the director now owns 4,640 shares in the company, valued at $200,680. The disclosure for this purchase can be found here. Insiders own 8.50% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAKE. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Cheesecake Factory by 84.6% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 45,408 shares of the restaurant operator’s stock worth $2,221,000 after acquiring an additional 20,815 shares during the period. Arizona State Retirement System grew its holdings in shares of Cheesecake Factory by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 30,187 shares of the restaurant operator’s stock worth $1,320,000 after acquiring an additional 238 shares during the period. SG Americas Securities LLC grew its holdings in shares of Cheesecake Factory by 135.7% in the 2nd quarter. SG Americas Securities LLC now owns 12,883 shares of the restaurant operator’s stock worth $563,000 after acquiring an additional 7,417 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Cheesecake Factory by 1.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 26,457 shares of the restaurant operator’s stock worth $1,157,000 after acquiring an additional 267 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Cheesecake Factory by 20.0% in the 2nd quarter. First Trust Advisors LP now owns 863,495 shares of the restaurant operator’s stock worth $37,752,000 after acquiring an additional 143,718 shares during the period. Institutional investors and hedge funds own 99.42% of the company’s stock.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated engages in the operation of restaurants. 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 April 16, 2019, it owned and operated 219 full-service casual-dining restaurants in the United States, including Puerto Rico and Canada comprising 202 restaurants under The Cheesecake Factory name; 14 restaurants under the Grand Lux Café name; and 2 restaurants under the RockSugar Southeast Asian Kitchen name, as well as 22 The Cheesecake Factory restaurants under licensing agreements internationally.

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

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