Cheesecake Factory Inc (CAKE) to Post FY2018 Earnings of $2.46 Per Share, Jefferies Financial Group Forecasts

Cheesecake Factory Inc (NASDAQ:CAKE) – Stock analysts at Jefferies Financial Group increased their FY2018 earnings estimates for Cheesecake Factory in a research note issued to investors on Tuesday, October 30th. Jefferies Financial Group analyst A. Barish now forecasts that the restaurant operator will post earnings of $2.46 per share for the year, up from their prior forecast of $2.42. Jefferies Financial Group currently has a “Hold” rating and a $50.00 target price on the stock. Jefferies Financial Group also issued estimates for Cheesecake Factory’s Q4 2018 earnings at $0.63 EPS and FY2020 earnings at $3.24 EPS.

Several other equities research analysts have also weighed in on the company. ValuEngine lowered Cheesecake Factory from a “buy” rating to a “hold” rating in a report on Thursday. TheStreet lowered Cheesecake Factory from a “b” rating to a “c+” rating in a report on Tuesday. Barclays decreased their price objective on Cheesecake Factory from $54.00 to $51.00 and set an “equal weight” rating for the company in a report on Wednesday. Maxim Group decreased their price objective on Cheesecake Factory from $57.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Loop Capital assumed coverage on Cheesecake Factory in a report on Wednesday, October 24th. They issued a “hold” rating and a $55.00 price objective for the company. Seventeen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Cheesecake Factory currently has a consensus rating of “Hold” and an average price target of $52.93.

Shares of CAKE opened at $49.17 on Friday. Cheesecake Factory has a fifty-two week low of $41.75 and a fifty-two week high of $60.19. The stock has a market capitalization of $2.25 billion, a P/E ratio of 18.91, a PEG ratio of 1.40 and a beta of 0.24. The company has a quick ratio of 0.38, a current ratio of 0.48 and a debt-to-equity ratio of 0.03.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Tuesday, October 30th. The restaurant operator reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. Cheesecake Factory had a return on equity of 18.07% and a net margin of 6.02%. The company had revenue of $580.88 million during the quarter, compared to analyst estimates of $585.44 million. During the same quarter last year, the firm posted $0.56 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 27th. Shareholders of record on Wednesday, November 14th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Tuesday, November 13th. Cheesecake Factory’s payout ratio is presently 50.77%.

In related news, Director Edie A. Ames bought 500 shares of Cheesecake Factory stock in a transaction on Wednesday, August 22nd. The stock was acquired at an average price of $52.83 per share, with a total value of $26,415.00. Following the acquisition, the director now directly owns 1,430 shares of the company’s stock, valued at $75,546.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Cheryl Slomann sold 1,005 shares of Cheesecake Factory stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $52.94, for a total value of $53,204.70. Following the transaction, the insider now directly owns 12,106 shares of the company’s stock, valued at approximately $640,891.64. The disclosure for this sale can be found here. 8.80% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of CAKE. Schroder Investment Management Group boosted its position in shares of Cheesecake Factory by 96.0% during the 2nd quarter. Schroder Investment Management Group now owns 1,237,553 shares of the restaurant operator’s stock valued at $79,973,000 after acquiring an additional 606,024 shares during the last quarter. BlackRock Inc. boosted its position in shares of Cheesecake Factory by 8.3% during the 2nd quarter. BlackRock Inc. now owns 5,177,817 shares of the restaurant operator’s stock valued at $285,089,000 after acquiring an additional 398,351 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Cheesecake Factory during the 2nd quarter valued at about $6,250,000. Voya Investment Management LLC boosted its position in shares of Cheesecake Factory by 15.8% during the 2nd quarter. Voya Investment Management LLC now owns 784,960 shares of the restaurant operator’s stock valued at $43,220,000 after acquiring an additional 107,303 shares during the last quarter. Finally, Phocas Financial Corp. bought a new stake in shares of Cheesecake Factory during the 2nd quarter valued at about $5,634,000.

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 August 21, 2018, it operated 215 company-owned restaurants, including 199 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.

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

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