The Cheesecake Factory Incorporated (NASDAQ:CAKE) Expected to Announce Quarterly Sales of $718.85 Million


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Equities research analysts expect The Cheesecake Factory Incorporated (NASDAQ:CAKE) to announce sales of $718.85 million for the current quarter, Zacks reports. Nine analysts have provided estimates for The Cheesecake Factory’s earnings, with the lowest sales estimate coming in at $651.80 million and the highest estimate coming in at $767.90 million. The Cheesecake Factory reported sales of $295.85 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 143%. The firm is scheduled to announce its next earnings results on Wednesday, August 4th.

According to Zacks, analysts expect that The Cheesecake Factory will report full year sales of $2.81 billion for the current fiscal year, with estimates ranging from $2.58 billion to $2.90 billion. For the next financial year, analysts anticipate that the business will report sales of $3.12 billion, with estimates ranging from $2.84 billion to $3.26 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for The Cheesecake Factory.

The Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Wednesday, April 28th. The restaurant operator reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.26. The Cheesecake Factory had a negative net margin of 1.89% and a negative return on equity of 8.77%. The company had revenue of $627.40 million for the quarter, compared to the consensus estimate of $596.42 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year.

CAKE has been the subject of several research analyst reports. Zacks Investment Research raised The Cheesecake Factory from a “hold” rating to a “strong-buy” rating and set a $72.00 price objective for the company in a report on Monday. Wells Fargo & Company upped their price target on shares of The Cheesecake Factory from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, April 29th. Morgan Stanley increased their price objective on shares of The Cheesecake Factory from $41.00 to $45.00 and gave the stock an “underweight” rating in a research note on Thursday, April 29th. Wedbush boosted their target price on shares of The Cheesecake Factory from $64.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, April 29th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. increased their price target on shares of 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. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $48.65.

In other The Cheesecake Factory news, insider Cheryl Slomann sold 7,500 shares of The Cheesecake Factory stock in a transaction on Friday, April 30th. The shares were sold at an average price of $61.57, for a total value of $461,775.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Matthew Eliot Clark sold 4,000 shares of the business’s stock in a transaction on Friday, March 12th. The stock was sold at an average price of $58.29, for a total transaction of $233,160.00. Following the completion of the sale, the chief financial officer now owns 18,370 shares in the company, valued at approximately $1,070,787.30. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in The Cheesecake Factory by 3.3% during the fourth quarter. BlackRock Inc. now owns 7,532,836 shares of the restaurant operator’s stock valued at $279,169,000 after buying an additional 238,963 shares during the last quarter. Bamco Inc. NY grew its holdings in shares of The Cheesecake Factory by 13.8% in the fourth quarter. Bamco Inc. NY now owns 1,895,000 shares of the restaurant operator’s stock valued at $70,229,000 after purchasing an additional 230,000 shares in the last quarter. Wells Fargo & Company MN increased its position in The Cheesecake Factory by 2.4% in the fourth quarter. Wells Fargo & Company MN now owns 889,786 shares of the restaurant operator’s stock worth $32,975,000 after purchasing an additional 20,717 shares during the last quarter. Northern Trust Corp raised its stake in The Cheesecake Factory by 0.8% during the fourth quarter. Northern Trust Corp now owns 690,414 shares of the restaurant operator’s stock valued at $25,586,000 after purchasing an additional 5,689 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in The Cheesecake Factory by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 584,448 shares of the restaurant operator’s stock valued at $21,660,000 after purchasing an additional 15,744 shares during the last quarter. 93.07% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ CAKE traded up $0.20 during midday trading on Friday, hitting $62.09. 28,784 shares of the stock traded hands, compared to its average volume of 936,237. The firm has a 50-day moving average of $59.22 and a two-hundred day moving average of $45.66. The firm has a market capitalization of $2.88 billion, a P/E ratio of -45.51, a PEG ratio of 2.70 and a beta of 1.68. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.69 and a current ratio of 0.76. The Cheesecake Factory has a one year low of $16.80 and a one year high of $65.81.

About The Cheesecake Factory

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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