The Cheesecake Factory Incorporated (NASDAQ:CAKE) Expected to Post Quarterly Sales of $782.74 Million

Brokerages expect The Cheesecake Factory Incorporated (NASDAQ:CAKEGet Rating) to announce $782.74 million in sales for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Cheesecake Factory’s earnings. The lowest sales estimate is $774.10 million and the highest is $793.48 million. Cheesecake Factory reported sales of $627.42 million in the same quarter last year, which indicates a positive year-over-year growth rate of 24.8%. The business is expected to report its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Cheesecake Factory will report full-year sales of $3.33 billion for the current financial year, with estimates ranging from $3.27 billion to $3.39 billion. For the next year, analysts forecast that the company will post sales of $3.49 billion, with estimates ranging from $3.42 billion to $3.55 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Cheesecake Factory.

Cheesecake Factory (NASDAQ:CAKEGet Rating) last issued its quarterly earnings data on Wednesday, February 16th. The restaurant operator reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.10). Cheesecake Factory had a return on equity of 37.60% and a net margin of 2.47%. The firm had revenue of $776.69 million for the quarter, compared to analysts’ expectations of $774.52 million. During the same period in the previous year, the business posted ($0.32) EPS. The business’s revenue for the quarter was up 40.1% compared to the same quarter last year.

Several equities research analysts have recently weighed in on the company. Piper Sandler downgraded Cheesecake Factory from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $65.00 to $44.00 in a report on Monday, January 3rd. Morgan Stanley lowered their price objective on shares of Cheesecake Factory from $39.00 to $36.00 and set an “underweight” rating on the stock in a research report on Thursday, April 14th. Stephens lifted their price objective on shares of Cheesecake Factory from $47.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, February 17th. StockNews.com initiated coverage on shares of Cheesecake Factory in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Wedbush boosted their price target on Cheesecake Factory from $49.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, February 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.36.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Trustcore Financial Services LLC grew its stake in shares of Cheesecake Factory by 2.2% during the 3rd quarter. Trustcore Financial Services LLC now owns 13,275 shares of the restaurant operator’s stock worth $624,000 after purchasing an additional 285 shares during the period. Advisors Asset Management Inc. grew its position in Cheesecake Factory by 30.1% during the fourth quarter. Advisors Asset Management Inc. now owns 1,365 shares of the restaurant operator’s stock worth $53,000 after buying an additional 316 shares during the period. Voya Investment Management LLC increased its holdings in Cheesecake Factory by 1.9% in the third quarter. Voya Investment Management LLC now owns 17,748 shares of the restaurant operator’s stock valued at $834,000 after buying an additional 329 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in shares of Cheesecake Factory by 3.4% during the 3rd quarter. Advisor Group Holdings Inc. now owns 10,308 shares of the restaurant operator’s stock valued at $484,000 after acquiring an additional 337 shares during the period. Finally, Profund Advisors LLC boosted its stake in shares of Cheesecake Factory by 7.8% during the 4th quarter. Profund Advisors LLC now owns 5,338 shares of the restaurant operator’s stock worth $209,000 after acquiring an additional 385 shares in the last quarter. Institutional investors own 85.28% of the company’s stock.

CAKE opened at $37.63 on Wednesday. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 36.89, a price-to-earnings-growth ratio of 1.46 and a beta of 1.47. Cheesecake Factory has a 52 week low of $31.43 and a 52 week high of $65.81. The business’s 50 day moving average is $38.39 and its two-hundred day moving average is $39.83. The company has a quick ratio of 0.57, a current ratio of 0.64 and a debt-to-equity ratio of 1.41.

About Cheesecake Factory (Get Rating)

The Cheesecake Factory Incorporated operates restaurants. It operates two bakeries that produces cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors. The company owns and operates 306 restaurants throughout the United States and Canada under brands, including 208 The Cheesecake Factory and 29 North Italia; and a collection of Fox Restaurant Concepts, as well as 29 The Cheesecake Factory restaurants under licensing agreements internationally.

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

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