The Cheesecake Factory Incorporated (NASDAQ:CAKE) Expected to Post Quarterly Sales of $715.16 Million

Brokerages expect that The Cheesecake Factory Incorporated (NASDAQ:CAKE) will post $715.16 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for The Cheesecake Factory’s earnings. The highest sales estimate is $767.90 million and the lowest is $651.80 million. The Cheesecake Factory posted sales of $295.85 million during the same quarter last year, which suggests a positive year over year growth rate of 141.7%. The company is expected to issue 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 year, analysts anticipate that the firm will report sales of $3.12 billion, with estimates ranging from $2.84 billion to $3.26 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover The Cheesecake Factory.

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

CAKE has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of The Cheesecake Factory from $56.00 to $62.00 and gave the company a “hold” rating in a research report on Thursday, April 29th. Wedbush upped their price target on shares of The Cheesecake Factory from $64.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, May 5th. The Goldman Sachs Group upped their price target on shares of The Cheesecake Factory from $37.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, February 25th. Stephens upped their price target on shares of The Cheesecake Factory from $50.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 5th. Finally, Telsey Advisory Group upped their price target on shares of The Cheesecake Factory from $62.00 to $66.00 and gave the company a “market perform” rating in a research report on Wednesday, May 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $54.43.

In other news, CFO Matthew Eliot Clark sold 4,000 shares of the firm’s stock in a transaction on Friday, May 7th. The shares were sold at an average price of $63.86, for a total transaction of $255,440.00. Following the transaction, the chief financial officer now owns 18,370 shares in the company, valued at approximately $1,173,108.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President David M. Gordon sold 65,660 shares of the firm’s stock in a transaction on Tuesday, May 4th. The shares were sold at an average price of $61.96, for a total transaction of $4,068,293.60. Following the transaction, the president now owns 51,255 shares in the company, valued at approximately $3,175,759.80. The disclosure for this sale can be found here. Insiders have sold a total of 99,160 shares of company stock worth $6,168,149 in the last 90 days. 8.50% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Veriti Management LLC acquired a new position in The Cheesecake Factory in the 4th quarter valued at $61,000. First Mercantile Trust Co. acquired a new position in The Cheesecake Factory in the 1st quarter valued at $80,000. Nisa Investment Advisors LLC grew its stake in The Cheesecake Factory by 38.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,435 shares of the restaurant operator’s stock valued at $90,000 after buying an additional 680 shares during the last quarter. Captrust Financial Advisors grew its stake in The Cheesecake Factory by 218.8% in the 1st quarter. Captrust Financial Advisors now owns 1,852 shares of the restaurant operator’s stock valued at $108,000 after buying an additional 1,271 shares during the last quarter. Finally, Alpha DNA Investment Management LLC acquired a new position in The Cheesecake Factory in the 4th quarter valued at $131,000. Institutional investors and hedge funds own 93.07% of the company’s stock.

Shares of NASDAQ:CAKE opened at $58.91 on Tuesday. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of -43.32, a PEG ratio of 2.70 and a beta of 1.68. The Cheesecake Factory has a 1-year low of $18.79 and a 1-year high of $65.81. 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 company has a 50 day moving average price of $59.58 and a 200 day moving average price of $47.74.

The Cheesecake Factory Company Profile

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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