Wall Street analysts expect Cheesecake Factory Inc (NASDAQ:CAKE) to post $610.63 million in sales for the current fiscal quarter, according to Zacks. Ten analysts have provided estimates for Cheesecake Factory’s earnings, with the highest sales estimate coming in at $615.52 million and the lowest estimate coming in at $599.57 million. Cheesecake Factory posted sales of $593.18 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.9%. The firm is expected to announce its next earnings report after the market closes on Wednesday, July 31st.

On average, analysts expect that Cheesecake Factory will report full year sales of $2.43 billion for the current year, with estimates ranging from $2.42 billion to $2.46 billion. For the next financial year, analysts expect that the company will report sales of $2.57 billion, with estimates ranging from $2.50 billion to $2.70 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Cheesecake Factory.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Wednesday, May 1st. The restaurant operator reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $599.48 million during the quarter, compared to analysts’ expectations of $603.03 million. Cheesecake Factory had a return on equity of 19.54% and a net margin of 4.24%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.56 earnings per share.

Several analysts recently issued reports on CAKE shares. Raymond James reiterated a “buy” rating and set a $21.00 target price on shares of Colfax in a research report on Thursday, May 2nd. BidaskClub cut Weyco Group from a “sell” rating to a “strong sell” rating in a research report on Saturday. Telsey Advisory Group reiterated an “outperform” rating and set a $195.00 target price (up previously from $190.00) on shares of Estee Lauder Companies in a research report on Thursday, May 2nd. Barclays increased their target price on Black Knight from $56.00 to $66.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, TheStreet cut Virtusa from a “b-” rating to a “c+” rating in a research report on Wednesday, May 29th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. Cheesecake Factory has a consensus rating of “Hold” and an average price target of $51.64.

In other news, Director Laurence B. Mindel purchased 1,500 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average cost of $49.64 per share, with a total value of $74,460.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Laurence B. Mindel purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were purchased at an average cost of $47.50 per share, with a total value of $95,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 4,200 shares of company stock valued at $202,486. 8.50% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Cheesecake Factory by 1.9% during the fourth quarter. BlackRock Inc. now owns 5,305,610 shares of the restaurant operator’s stock valued at $230,847,000 after buying an additional 97,768 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Cheesecake Factory by 7.2% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,720,092 shares of the restaurant operator’s stock valued at $133,068,000 after buying an additional 181,979 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Cheesecake Factory by 9.8% during the fourth quarter. Macquarie Group Ltd. now owns 2,130,536 shares of the restaurant operator’s stock valued at $92,699,000 after buying an additional 189,577 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Cheesecake Factory by 7.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,413,874 shares of the restaurant operator’s stock valued at $61,516,000 after buying an additional 95,965 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Cheesecake Factory by 718.0% during the first quarter. First Trust Advisors LP now owns 719,777 shares of the restaurant operator’s stock valued at $35,211,000 after buying an additional 631,789 shares during the last quarter. 98.26% of the stock is owned by institutional investors.

CAKE traded up $0.35 during midday trading on Friday, reaching $42.97. The company had a trading volume of 487,907 shares, compared to its average volume of 538,879. The company has a current ratio of 0.35, a quick ratio of 0.26 and a debt-to-equity ratio of 1.78. The company’s 50-day moving average price is $44.16. The firm has a market capitalization of $1.94 billion, a P/E ratio of 17.68, a P/E/G ratio of 1.24 and a beta of 0.43. Cheesecake Factory has a 1 year low of $41.63 and a 1 year high of $60.19.

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

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