$844.90 million in sales expected for The Cheesecake Factory Incorporated (NASDAQ: CAKE) this quarter
Equity research analysts expect The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Rating) to post sales of $844.90 million for the current fiscal quarter, reports Zacks Investment Research. Eight analysts released earnings estimates for Cheesecake Factory. The lowest sales estimate is $839.41 million and the highest is $848.77 million. Cheesecake Factory recorded sales of $768.96 million in the same quarter last year, which would indicate a positive growth rate of 9.9% year over year. The company is expected to release its next quarterly earnings report on Monday, January 1.
On average, analysts expect Cheesecake Factory to report annual revenue of $3.36 billion in the current fiscal year, with estimates ranging from $3.33 billion to $3.39 billion. For next year, analysts expect the company to register sales of $3.52 billion, with estimates ranging from $3.44 billion to $3.61 billion. Zacks sales averages are an average based on a survey of analysts who follow Cheesecake Factory.
Cheesecake Factory (NASDAQ:CAKE – Get Rating) last announced its results on Wednesday, April 27. The restaurateur reported earnings per share of $0.47 for the quarter, missing the consensus estimate of $0.50 per ($0.03). The company posted revenue of $793.71 million for the quarter, versus a consensus estimate of $782.10 million. Cheesecake Factory achieved a net margin of 2.96% and a return on equity of 38.98%. During the same period of the previous year, the company achieved EPS of $0.20.
CAKE has been the subject of several research analyst reports. Morgan Stanley lowered its price target on Cheesecake Factory from $39.00 to $36.00 and set an “underweight” rating on the stock in a Thursday, April 14 research report. Citigroup launched coverage on Cheesecake Factory in a report on Tuesday, April 12. They issued a “buy” rating and a target price of $52.00 on the stock. Deutsche Bank Aktiengesellschaft reduced its price target on Cheesecake Factory from $47.00 to $43.00 in a Thursday, April 28 report. Stephens raised its price target on Cheesecake Factory from $47.00 to $52.00 and gave the stock an “overweight” rating in a Thursday, February 17 report. Finally, StockNews.com began covering Cheesecake Factory in a research report on Thursday, March 31. They issued a “hold” rating for the company. Two investment analysts gave the stock a sell rating, six gave the company a hold rating and six gave the company a buy rating. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $49.92.
A number of institutional investors and hedge funds have recently increased or reduced their stakes in the stock. Walleye Capital LLC increased its position in Cheesecake Factory shares by 51.9% in the first quarter. Walleye Capital LLC now owns 66,863 shares of the restaurateur worth $2,660,000 after purchasing an additional 22,844 shares in the last quarter. Weiss Multi Strategy Advisers LLC acquired a new stake in shares of Cheesecake Factory in the first quarter worth approximately $10,360,000. Evergreen Capital Management LLC increased its position in Cheesecake Factory shares by 7.6% in the first quarter. Evergreen Capital Management LLC now owns 8,364 shares of the restaurateur worth $333,000 after purchasing an additional 590 shares in the last quarter. First Republic Investment Management Inc. increased its position in shares of Cheesecake Factory by 8.3% in the first quarter. First Republic Investment Management Inc. now owns 46,027 shares of the restaurateur worth $1,831,000 after buying 3,530 additional shares in the last quarter. Finally, RBF Capital LLC acquired a new stake in shares of Cheesecake Factory in the first quarter worth approximately $1,164,000. 87.42% of the shares are held by hedge funds and other institutional investors.
Shares of Cheesecake Factory opened at $32.66 on Wednesday. The company’s fifty-day moving average price is $35.73 and its two-hundred-day moving average price is $37.87. The company has a debt ratio of 1.31, a current ratio of 0.62 and a quick ratio of 0.54. The company has a market capitalization of $1.72 billion, a P/E ratio of 21.77, a PEG ratio of 1.41 and a beta of 1.41. Cheesecake Factory has a 1-year low of $27.42 and a 1-year high of $63.25.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 24. Investors of record on Wednesday, May 11 received a dividend of $0.27 per share. The ex-dividend date was Tuesday, May 10. This represents a dividend of $1.08 on an annualized basis and a yield of 3.31%. Cheesecake Factory’s payout rate is 72.00%.
Company Profile Cheesecake Factory (Get a rating)
The Cheesecake Factory Incorporated operates restaurants. It operates two bakeries that manufacture cheesecakes and other baked goods for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers and distributors. The company owns and operates 306 restaurants in the United States and Canada under brands, including 208 The Cheesecake Factory and 29 North Italia; and a collection of Fox Restaurant Concepts, as well as 29 The Cheesecake Factory restaurants under international licensing agreements.
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