Wall Street brokerages expect Cheesecake Factory Inc (NASDAQ:CAKE) to report $489.93 million in sales for the current quarter, according to Zacks. Ten analysts have issued estimates for Cheesecake Factory’s earnings. The lowest sales estimate is $388.51 million and the highest is $590.00 million. Cheesecake Factory posted sales of $586.54 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 16.5%. The business is expected to report its next earnings results on Tuesday, November 3rd.
On average, analysts expect that Cheesecake Factory will report full year sales of $2.03 billion for the current fiscal year, with estimates ranging from $1.85 billion to $2.20 billion. For the next year, analysts anticipate that the firm will post sales of $2.66 billion, with estimates ranging from $2.39 billion to $2.78 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Cheesecake Factory.
Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported ($0.87) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.07) by $0.20. The firm had revenue of $295.85 million for the quarter, compared to analysts’ expectations of $309.57 million. Cheesecake Factory had a net margin of 0.20% and a return on equity of 1.43%. The business’s revenue for the quarter was down 50.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 earnings per share.
A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. cut shares of Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $23.00 price target on the stock. in a report on Wednesday, June 24th. Deutsche Bank restated a “hold” rating and issued a $26.00 price target on shares of Cheesecake Factory in a report on Monday, April 20th. Stephens upped their price target on shares of Cheesecake Factory from $15.00 to $18.00 and gave the stock an “underweight” rating in a report on Thursday. Wedbush upped their price target on shares of Cheesecake Factory from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, ValuEngine upgraded shares of Cheesecake Factory from a “hold” rating to a “buy” rating in a report on Thursday, June 4th. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $28.80.
NASDAQ CAKE opened at $24.00 on Monday. The company’s 50-day moving average price is $22.82 and its 200-day moving average price is $26.24. The company has a current ratio of 0.53, a quick ratio of 0.44 and a debt-to-equity ratio of 3.81. The stock has a market cap of $1.09 billion, a PE ratio of -100.00 and a beta of 1.39. Cheesecake Factory has a 12 month low of $14.52 and a 12 month high of $45.24.
Institutional investors have recently made changes to their positions in the stock. Creative Financial Designs Inc. ADV raised its position in shares of Cheesecake Factory by 77.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 1,581 shares of the restaurant operator’s stock valued at $27,000 after purchasing an additional 688 shares during the last quarter. Parallel Advisors LLC purchased a new position in shares of Cheesecake Factory in the 2nd quarter valued at approximately $48,000. Tower Research Capital LLC TRC raised its position in shares of Cheesecake Factory by 304.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,676 shares of the restaurant operator’s stock valued at $63,000 after purchasing an additional 2,767 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Cheesecake Factory by 65.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,912 shares of the restaurant operator’s stock valued at $67,000 after purchasing an additional 1,553 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Cheesecake Factory by 1,873.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 6,215 shares of the restaurant operator’s stock valued at $106,000 after purchasing an additional 5,900 shares during the last quarter. 90.92% of the stock is owned by hedge funds and other institutional investors.
About Cheesecake Factory
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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