William Blair Research Analysts Lift Earnings Estimates for Cheesecake Factory Inc (NASDAQ:CAKE)

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Cheesecake Factory Inc (NASDAQ:CAKE) – William Blair lifted their Q3 2020 earnings estimates for Cheesecake Factory in a research report issued on Wednesday, January 22nd. William Blair analyst S. Zackfia now anticipates that the restaurant operator will post earnings of $0.68 per share for the quarter, up from their previous forecast of $0.64. William Blair also issued estimates for Cheesecake Factory’s FY2020 earnings at $2.80 EPS and FY2021 earnings at $3.07 EPS.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.04. Cheesecake Factory had a net margin of 3.99% and a return on equity of 21.61%. The business had revenue of $586.50 million for the quarter, compared to analyst estimates of $597.76 million. During the same quarter last year, the business posted $0.61 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis.

CAKE has been the subject of a number of other research reports. Raymond James lowered shares of Cheesecake Factory from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 17th. Wedbush set a $40.00 target price on Cheesecake Factory and gave the company a “hold” rating in a report on Friday, October 25th. ValuEngine upgraded Cheesecake Factory from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Goldman Sachs Group started coverage on Cheesecake Factory in a research report on Thursday, December 12th. They issued a “neutral” rating and a $41.00 price target for the company. Finally, Stephens cut their price objective on shares of Cheesecake Factory from $55.00 to $48.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Cheesecake Factory presently has an average rating of “Hold” and an average price target of $46.38.

Shares of Cheesecake Factory stock opened at $39.61 on Friday. The business has a 50-day simple moving average of $39.76 and a 200 day simple moving average of $40.88. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 1.30 and a beta of 0.42. The company has a debt-to-equity ratio of 2.43, a current ratio of 1.04 and a quick ratio of 0.93. Cheesecake Factory has a one year low of $35.83 and a one year high of $51.15.

In other news, President David M. Gordon sold 3,700 shares of Cheesecake Factory stock in a transaction on Monday, November 4th. The stock was sold at an average price of $42.98, for a total value of $159,026.00. Following the completion of the transaction, the president now directly owns 25,816 shares in the company, valued at $1,109,571.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Edie A. Ames acquired 760 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were bought at an average price of $43.25 per share, for a total transaction of $32,870.00. Following the completion of the purchase, the director now owns 4,640 shares in the company, valued at approximately $200,680. The disclosure for this purchase can be found here. 8.50% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. raised its holdings in Cheesecake Factory by 84.6% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 45,408 shares of the restaurant operator’s stock worth $2,221,000 after acquiring an additional 20,815 shares during the last quarter. Schroder Investment Management Group lifted its holdings in Cheesecake Factory by 2.1% in the second quarter. Schroder Investment Management Group now owns 541,638 shares of the restaurant operator’s stock valued at $23,680,000 after acquiring an additional 11,319 shares during the period. HighTower Advisors LLC boosted its position in Cheesecake Factory by 26.7% in the second quarter. HighTower Advisors LLC now owns 7,699 shares of the restaurant operator’s stock worth $339,000 after purchasing an additional 1,624 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Cheesecake Factory by 8,033.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 732 shares of the restaurant operator’s stock valued at $32,000 after purchasing an additional 723 shares during the period. Finally, Asset Management One Co. Ltd. purchased a new stake in shares of Cheesecake Factory during the 2nd quarter valued at about $364,000. 99.62% of the stock is owned by institutional investors.

Cheesecake Factory Company Profile

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.

Further Reading: Cash Flow

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

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