Analysts predict that Cheesecake Factory Inc (NASDAQ:CAKE) will post $610.63 million in sales for the current quarter, Zacks reports. Ten analysts have issued estimates for Cheesecake Factory’s earnings. The lowest sales estimate is $599.57 million and the highest is $615.52 million. Cheesecake Factory reported sales of $593.18 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.9%. The business is scheduled to issue its next earnings report after the market closes on Wednesday, July 31st.

According to Zacks, analysts expect that Cheesecake Factory will report full-year sales of $2.43 billion for the current fiscal year, with estimates ranging from $2.42 billion to $2.46 billion. For the next fiscal 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 calculations are an average based on a survey of analysts that follow Cheesecake Factory.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 EPS.

Several equities analysts recently weighed in on the company. Telsey Advisory Group restated an “outperform” rating and issued a $195.00 price target (up previously from $190.00) on shares of Estee Lauder Companies in a research note on Thursday, May 2nd. TheStreet lowered Virtusa from a “b-” rating to a “c+” rating in a research note on Wednesday, May 29th. Raymond James restated a “buy” rating and issued a $21.00 price target on shares of Colfax in a research note on Thursday, May 2nd. Wedbush restated an “outperform” rating and issued a $74.00 price target on shares of Tempur Sealy International in a research note on Tuesday, June 18th. Finally, ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. Cheesecake Factory presently has a consensus rating of “Hold” and an average price target of $51.64.

In other news, Director Edie A. Ames purchased 700 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were bought at an average cost of $47.18 per share, for a total transaction of $33,026.00. Following the completion of the purchase, the director now directly owns 3,130 shares of the company’s stock, valued at $147,673.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Laurence B. Mindel purchased 1,500 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were purchased at an average price of $49.64 per share, for a total transaction of $74,460.00. The disclosure for this purchase can be found here. Insiders purchased 4,200 shares of company stock worth $202,486 over the last quarter. 8.50% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in CAKE. Prudential Financial Inc. lifted its stake in Cheesecake Factory by 19.1% during the fourth quarter. Prudential Financial Inc. now owns 34,742 shares of the restaurant operator’s stock worth $1,511,000 after purchasing an additional 5,583 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Cheesecake Factory by 109.2% during the fourth quarter. Acadian Asset Management LLC now owns 1,920 shares of the restaurant operator’s stock worth $84,000 after acquiring an additional 1,002 shares during the period. New York State Common Retirement Fund increased its position in shares of Cheesecake Factory by 23.9% during the fourth quarter. New York State Common Retirement Fund now owns 110,980 shares of the restaurant operator’s stock worth $4,829,000 after acquiring an additional 21,394 shares during the period. BlackRock Inc. increased its position in shares of Cheesecake Factory by 1.9% during the fourth quarter. BlackRock Inc. now owns 5,305,610 shares of the restaurant operator’s stock worth $230,847,000 after acquiring an additional 97,768 shares during the period. Finally, Texas Permanent School Fund increased its position in shares of Cheesecake Factory by 2.9% during the fourth quarter. Texas Permanent School Fund now owns 27,293 shares of the restaurant operator’s stock worth $1,188,000 after acquiring an additional 764 shares during the period. Institutional investors own 98.26% of the company’s stock.

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

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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