William Blair Comments on Cheesecake Factory Inc’s Q2 2019 Earnings (CAKE)

Share on StockTwits

Cheesecake Factory Inc (NASDAQ:CAKE) – Equities researchers at William Blair upped their Q2 2019 earnings estimates for shares of Cheesecake Factory in a research report issued to clients and investors on Wednesday, May 1st. William Blair analyst S. Zackfia now forecasts that the restaurant operator will post earnings per share of $0.84 for the quarter, up from their prior forecast of $0.83. William Blair also issued estimates for Cheesecake Factory’s Q4 2019 earnings at $0.58 EPS, FY2019 earnings at $2.68 EPS and FY2020 earnings at $2.86 EPS.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Wednesday, May 1st. The restaurant operator reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Cheesecake Factory had a net margin of 4.21% and a return on equity of 18.78%. The firm had revenue of $599.48 million for the quarter, compared to analyst estimates of $603.03 million. During the same period in the prior year, the firm posted $0.56 earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year.

Several other equities analysts have also weighed in on the stock. Raymond James set a $56.00 price objective on shares of Cheesecake Factory and gave the company a “buy” rating in a research report on Thursday. Barclays increased their price objective on shares of Cheesecake Factory from $40.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday. Wedbush increased their price objective on shares of Cheesecake Factory from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday. Maxim Group reissued a “buy” rating and issued a $63.00 price objective (up from $60.00) on shares of Cheesecake Factory in a research report on Thursday. Finally, Telsey Advisory Group upped their price target on shares of Cheesecake Factory from $52.00 to $54.00 and gave the company a “market perform” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $52.67.

Shares of CAKE opened at $50.09 on Friday. The stock has a market capitalization of $2.25 billion, a PE ratio of 20.61, a P/E/G ratio of 1.46 and a beta of 0.35. Cheesecake Factory has a fifty-two week low of $41.63 and a fifty-two week high of $60.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.38 and a current ratio of 0.47.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.32 dividend on an annualized basis and a yield of 2.64%. Cheesecake Factory’s payout ratio is 54.32%.

In other Cheesecake Factory news, Chairman David Overton sold 159,297 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $47.63, for a total transaction of $7,587,316.11. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Edie A. Ames acquired 1,000 shares of Cheesecake Factory stock in a transaction on Monday, February 25th. The shares were purchased at an average price of $46.97 per share, for a total transaction of $46,970.00. Following the completion of the purchase, the director now directly owns 2,430 shares of the company’s stock, valued at $114,137.10. The disclosure for this purchase can be found here. Corporate insiders own 8.50% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of CAKE. Norges Bank acquired a new stake in shares of Cheesecake Factory in the 4th quarter valued at approximately $23,493,000. Deutsche Bank AG boosted its holdings in shares of Cheesecake Factory by 110.7% in the fourth quarter. Deutsche Bank AG now owns 461,656 shares of the restaurant operator’s stock valued at $20,084,000 after acquiring an additional 242,602 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Cheesecake Factory by 48.9% in the fourth quarter. Bessemer Group Inc. now owns 677,627 shares of the restaurant operator’s stock valued at $29,484,000 after acquiring an additional 222,645 shares in the last quarter. Millennium Management LLC boosted its holdings in Cheesecake Factory by 548.6% during the fourth quarter. Millennium Management LLC now owns 250,421 shares of the restaurant operator’s stock worth $10,896,000 after buying an additional 211,810 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its holdings in Cheesecake Factory by 9.8% during the fourth quarter. Macquarie Group Ltd. now owns 2,130,536 shares of the restaurant operator’s stock worth $92,699,000 after buying an additional 189,577 shares in the last quarter. Institutional investors own 98.26% of the company’s stock.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated operates restaurants in the United States. 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 November 20, 2018, it operated 217 company-owned restaurants, including 201 restaurants under The Cheesecake Factory brand; 14 restaurants under the Grand Lux Cafe brand; and 2 restaurants under the RockSugar Southeast Asian Kitchen brand, as well as 21 The Cheesecake Factory branded restaurants under licensing agreements internationally.

See Also: Blue-Chip Stocks

Earnings History and Estimates for Cheesecake Factory (NASDAQ:CAKE)

Receive News & Ratings for Cheesecake Factory Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cheesecake Factory and related companies with MarketBeat.com's FREE daily email newsletter.