Wall Street analysts expect that Cheesecake Factory Inc (NASDAQ:CAKE) will post sales of $610.47 million for the current quarter, according to Zacks Investment Research. Nine analysts have issued 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 during the same quarter last year, which indicates a positive year over year growth rate of 2.9%. The firm is expected to issue its next earnings report on Tuesday, July 30th.

According to Zacks, 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 fiscal year, analysts anticipate that the company will post sales of $2.58 billion, with estimates ranging from $2.50 billion to $2.70 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Cheesecake Factory.

Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Wednesday, May 1st. The restaurant operator reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The firm had revenue of $599.48 million for the quarter, compared to analysts’ expectations of $603.03 million. Cheesecake Factory had a net margin of 4.24% and a return on equity of 19.54%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 earnings per share.

CAKE has been the topic of a number of research analyst reports. TheStreet upgraded shares of Cheesecake Factory from a “c+” rating to a “b-” rating in a research note on Wednesday, April 24th. Raymond James set a $56.00 price target on shares of Cheesecake Factory and gave the company a “buy” rating in a research report on Thursday, May 2nd. Maxim Group reissued a “buy” rating and issued a $63.00 price target (up previously from $60.00) on shares of Cheesecake Factory in a research report on Thursday, May 2nd. BidaskClub raised shares of Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Finally, Wedbush reissued a “hold” rating and issued a $48.00 price target on shares of Cheesecake Factory in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $52.67.

CAKE traded down $0.18 during midday trading on Thursday, reaching $45.37. The company had a trading volume of 602,016 shares, compared to its average volume of 655,169. The company has a quick ratio of 0.26, a current ratio of 0.35 and a debt-to-equity ratio of 1.78. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 1.31 and a beta of 0.45. Cheesecake Factory has a 12-month low of $41.63 and a 12-month high of $60.19.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Thursday, May 16th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Wednesday, May 15th. Cheesecake Factory’s dividend payout ratio (DPR) is currently 54.32%.

In other Cheesecake Factory news, Director Laurence B. Mindel purchased 1,500 shares of the stock in a transaction dated Monday, May 6th. The shares were bought at an average price of $49.64 per share, with a total value of $74,460.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edie A. Ames bought 700 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average cost of $47.18 per share, for a total transaction of $33,026.00. Following the acquisition, the director now directly owns 3,130 shares in the company, valued at approximately $147,673.40. The disclosure for this purchase can be found here. In the last three months, insiders bought 4,200 shares of company stock worth $202,486. Insiders own 8.50% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Retirement Systems of Alabama increased its holdings in Cheesecake Factory by 0.4% during the 1st quarter. Retirement Systems of Alabama now owns 54,295 shares of the restaurant operator’s stock worth $2,656,000 after acquiring an additional 212 shares during the period. Mason Street Advisors LLC increased its holdings in Cheesecake Factory by 1.5% during the 1st quarter. Mason Street Advisors LLC now owns 22,179 shares of the restaurant operator’s stock worth $1,085,000 after acquiring an additional 332 shares during the period. Gagnon Securities LLC increased its holdings in Cheesecake Factory by 2.6% during the 1st quarter. Gagnon Securities LLC now owns 16,596 shares of the restaurant operator’s stock worth $812,000 after acquiring an additional 426 shares during the period. Thrivent Financial for Lutherans increased its holdings in Cheesecake Factory by 4.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 10,713 shares of the restaurant operator’s stock worth $466,000 after acquiring an additional 428 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in Cheesecake Factory by 3.4% during the 1st quarter. Meeder Asset Management Inc. now owns 15,337 shares of the restaurant operator’s stock worth $750,000 after acquiring an additional 504 shares during the period. 98.26% of the stock is currently owned by institutional investors and hedge funds.

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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