Research Analysts Issue Forecasts for Cheesecake Factory Inc’s FY2018 Earnings (NASDAQ:CAKE)

Cheesecake Factory Inc (NASDAQ:CAKE) – Equities research analysts at Oppenheimer raised their FY2018 EPS estimates for shares of Cheesecake Factory in a research note issued to investors on Thursday, according to Zacks Investment Research. Oppenheimer analyst B. Bittner now expects that the restaurant operator will post earnings of $2.83 per share for the year, up from their previous estimate of $2.57.

Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, November 1st. The restaurant operator reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.04). Cheesecake Factory had a return on equity of 21.65% and a net margin of 5.76%. The firm had revenue of $555.40 million during the quarter, compared to analysts’ expectations of $566.09 million. During the same quarter in the prior year, the company posted $0.70 earnings per share. Cheesecake Factory’s quarterly revenue was down .8% compared to the same quarter last year.

Several other brokerages have also recently weighed in on CAKE. Barclays lowered their target price on Cheesecake Factory from $46.00 to $43.00 and set an “equal weight” rating for the company in a report on Thursday, November 2nd. Wells Fargo & Co decreased their price objective on Cheesecake Factory from $46.00 to $43.00 and set a “market perform” rating for the company in a research note on Tuesday, October 24th. Wedbush cut Cheesecake Factory from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $52.00 to $44.00 in a research note on Tuesday, September 26th. Canaccord Genuity decreased their price objective on Cheesecake Factory from $50.00 to $48.00 and set a “hold” rating for the company in a research note on Thursday, November 2nd. Finally, Robert W. Baird restated a “hold” rating and set a $46.00 price objective on shares of Cheesecake Factory in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $48.81.

Shares of Cheesecake Factory (NASDAQ:CAKE) traded down $0.55 during mid-day trading on Monday, hitting $47.63. The company’s stock had a trading volume of 1,120,000 shares, compared to its average volume of 1,100,000. Cheesecake Factory has a twelve month low of $38.34 and a twelve month high of $67.14. The stock has a market cap of $2,180.00, a PE ratio of 17.58, a price-to-earnings-growth ratio of 1.25 and a beta of 0.33. The company has a quick ratio of 0.37, a current ratio of 0.51 and a debt-to-equity ratio of 0.05.

In other Cheesecake Factory news, Director Herbert Simon purchased 25,000 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was bought at an average cost of $43.50 per share, for a total transaction of $1,087,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Debby R. Zurzolo sold 2,306 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $44.75, for a total value of $103,193.50. The disclosure for this sale can be found here. Company insiders own 8.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Cheesecake Factory by 3.6% in the second quarter. Vanguard Group Inc. now owns 4,171,917 shares of the restaurant operator’s stock valued at $209,847,000 after buying an additional 146,756 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Cheesecake Factory by 54.8% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,457,364 shares of the restaurant operator’s stock valued at $103,504,000 after purchasing an additional 869,579 shares during the period. State Street Corp increased its holdings in shares of Cheesecake Factory by 4.3% in the second quarter. State Street Corp now owns 1,526,476 shares of the restaurant operator’s stock valued at $76,779,000 after purchasing an additional 63,301 shares during the period. Macquarie Group Ltd. increased its holdings in shares of Cheesecake Factory by 7.5% in the third quarter. Macquarie Group Ltd. now owns 1,453,386 shares of the restaurant operator’s stock valued at $61,216,000 after purchasing an additional 101,513 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Cheesecake Factory by 8.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,322,377 shares of the restaurant operator’s stock valued at $55,698,000 after purchasing an additional 106,475 shares during the period.

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About Cheesecake Factory

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

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