$570.32 Million in Sales Expected for The Cheesecake Factory Incorporated (NASDAQ:CAKE) This Quarter

Analysts expect that The Cheesecake Factory Incorporated (NASDAQ:CAKE) will announce sales of $570.32 million for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for The Cheesecake Factory’s earnings, with estimates ranging from $558.77 million to $580.34 million. The Cheesecake Factory posted sales of $558.86 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.1%. The company is scheduled to issue its next earnings results after the market closes on Wednesday, August 2nd.

On average, analysts expect that The Cheesecake Factory will report full-year sales of $570.32 million for the current fiscal year, with estimates ranging from $2.27 billion to $2.35 billion. For the next financial year, analysts forecast that the company will report sales of $2.42 billion per share, with estimates ranging from $2.40 billion to $2.49 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow The Cheesecake Factory.

The Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Wednesday, May 3rd. The restaurant operator reported $0.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The Cheesecake Factory had a return on equity of 23.35% and a net margin of 6.15%. The firm had revenue of $563.43 million for the quarter, compared to analysts’ expectations of $565.42 million.

CAKE has been the topic of a number of research analyst reports. Zacks Investment Research upgraded The Cheesecake Factory from a “sell” rating to a “hold” rating in a report on Tuesday, April 4th. Argus cut The Cheesecake Factory from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Barclays PLC reduced their target price on The Cheesecake Factory from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 19th. Nomura initiated coverage on The Cheesecake Factory in a report on Wednesday, July 12th. They issued a “neutral” rating and a $50.00 target price on the stock. Finally, Maxim Group reiterated a “hold” rating and issued a $65.00 target price (up previously from $59.00) on shares of The Cheesecake Factory in a report on Monday, May 1st. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $56.76.

In related news, VP Debby R. Zurzolo sold 6,424 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $59.09, for a total value of $379,594.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 8.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAKE. FMR LLC acquired a new position in The Cheesecake Factory during the fourth quarter valued at approximately $5,988,000. Norges Bank acquired a new position in The Cheesecake Factory during the fourth quarter valued at approximately $23,189,000. Quadrature Capital Ltd acquired a new position in The Cheesecake Factory during the fourth quarter valued at approximately $280,000. UBS Asset Management Americas Inc. boosted its position in The Cheesecake Factory by 174.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 81,051 shares of the restaurant operator’s stock valued at $4,854,000 after buying an additional 51,562 shares during the period. Finally, Macquarie Group Ltd. boosted its position in The Cheesecake Factory by 1.4% in the fourth quarter. Macquarie Group Ltd. now owns 1,108,841 shares of the restaurant operator’s stock valued at $66,397,000 after buying an additional 15,582 shares during the period. Institutional investors and hedge funds own 97.02% of the company’s stock.

Shares of The Cheesecake Factory (CAKE) traded up 2.36% during mid-day trading on Friday, hitting $50.41. The company had a trading volume of 972,509 shares. The firm has a 50-day moving average price of $51.77 and a 200 day moving average price of $58.85. The Cheesecake Factory has a 12 month low of $48.83 and a 12 month high of $67.14. The firm has a market capitalization of $2.32 billion, a P/E ratio of 17.63 and a beta of 0.33.

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About The Cheesecake Factory

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

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

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