$747.57 Million in Sales Expected for The Cheesecake Factory Incorporated (NASDAQ:CAKE) This Quarter

Wall Street brokerages forecast that The Cheesecake Factory Incorporated (NASDAQ:CAKE) will announce sales of $747.57 million for the current quarter, Zacks reports. Seven analysts have issued estimates for The Cheesecake Factory’s earnings, with the highest sales estimate coming in at $772.97 million and the lowest estimate coming in at $719.42 million. The Cheesecake Factory posted sales of $295.85 million in the same quarter last year, which suggests a positive year-over-year growth rate of 152.7%. The firm is expected to report its next earnings report after the market closes on Tuesday, July 27th.

According to Zacks, analysts expect that The Cheesecake Factory will report full year sales of $2.87 billion for the current financial year, with estimates ranging from $2.81 billion to $2.93 billion. For the next fiscal year, analysts expect that the company will post sales of $3.14 billion, with estimates ranging from $2.84 billion to $3.26 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover The Cheesecake Factory.

The Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Wednesday, April 28th. The restaurant operator reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.26. The firm had revenue of $627.40 million for the quarter, compared to the consensus estimate of $596.42 million. The Cheesecake Factory had a negative return on equity of 20.30% and a negative net margin of 5.68%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.13 earnings per share.

Several equities research analysts have issued reports on the company. Raymond James upgraded The Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a research report on Monday, July 12th. Wells Fargo & Company increased their target price on The Cheesecake Factory from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, April 29th. JPMorgan Chase & Co. increased their target price on The Cheesecake Factory from $58.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, April 12th. They noted that the move was a valuation call. Morgan Stanley increased their target price on The Cheesecake Factory from $41.00 to $45.00 and gave the stock an “underweight” rating in a research report on Thursday, April 29th. Finally, Telsey Advisory Group increased their target price on The Cheesecake Factory from $62.00 to $66.00 and gave the company a “market perform” rating in a research note on Thursday, April 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The Cheesecake Factory currently has an average rating of “Hold” and a consensus target price of $55.50.

Shares of NASDAQ:CAKE traded up $0.19 during trading on Friday, hitting $51.98. 29,990 shares of the company were exchanged, compared to its average volume of 999,131. The firm has a market cap of $2.42 billion, a P/E ratio of -15.85, a PEG ratio of 2.58 and a beta of 1.75. The firm’s 50 day moving average is $54.98. The Cheesecake Factory has a 52-week low of $22.10 and a 52-week high of $65.81. The company has a current ratio of 0.62, a quick ratio of 0.55 and a debt-to-equity ratio of 0.88.

In other news, insider Cheryl Slomann sold 7,500 shares of The Cheesecake Factory stock in a transaction that occurred on Friday, April 30th. The shares were sold at an average price of $61.57, for a total transaction of $461,775.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew Eliot Clark sold 4,000 shares of The Cheesecake Factory stock in a transaction that occurred on Friday, May 7th. The shares were sold at an average price of $63.86, for a total transaction of $255,440.00. Following the transaction, the chief financial officer now owns 18,370 shares of the company’s stock, valued at $1,173,108.20. The disclosure for this sale can be found here. Insiders sold 95,160 shares of company stock valued at $5,934,989 over the last 90 days. 8.70% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its position in shares of The Cheesecake Factory by 7.0% during the first quarter. Advisors Asset Management Inc. now owns 3,293 shares of the restaurant operator’s stock valued at $193,000 after acquiring an additional 214 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of The Cheesecake Factory by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 17,037 shares of the restaurant operator’s stock valued at $997,000 after acquiring an additional 300 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of The Cheesecake Factory by 8.0% during the first quarter. Mutual of America Capital Management LLC now owns 5,630 shares of the restaurant operator’s stock valued at $329,000 after acquiring an additional 419 shares in the last quarter. Voya Financial Advisors Inc. increased its position in shares of The Cheesecake Factory by 5.8% during the fourth quarter. Voya Financial Advisors Inc. now owns 16,235 shares of the restaurant operator’s stock valued at $592,000 after acquiring an additional 889 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of The Cheesecake Factory by 3.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 25,353 shares of the restaurant operator’s stock valued at $940,000 after acquiring an additional 903 shares in the last quarter. Hedge funds and other institutional investors own 80.34% of the company’s stock.

The Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated operates restaurants. The company produces cheesecakes and other baked products for its restaurants, international licensees, and third-party bakery customers, as well as external foodservice operators, retailers, and distributors. It owns and operates 294 restaurants throughout the United States and Canada under brands, including The Cheesecake Factory and North Italia; and a collection of Fox Restaurant Concepts, as well as 27 The Cheesecake Factory restaurants under licensing agreements internationally.

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

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