$0.58 EPS Expected for Cheesecake Factory Inc (NASDAQ:CAKE) This Quarter

Wall Street analysts forecast that Cheesecake Factory Inc (NASDAQ:CAKE) will report $0.58 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Cheesecake Factory’s earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.63. Cheesecake Factory reported earnings per share of $0.62 in the same quarter last year, which indicates a negative year over year growth rate of 6.5%. The business is scheduled to issue its next quarterly earnings results on Tuesday, October 29th.

According to Zacks, analysts expect that Cheesecake Factory will report full year earnings of $2.64 per share for the current financial year, with EPS estimates ranging from $2.59 to $2.68. For the next fiscal year, analysts expect that the company will report earnings of $2.79 per share, with EPS estimates ranging from $2.65 to $2.91. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Cheesecake Factory.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The business had revenue of $602.65 million during the quarter, compared to analyst estimates of $612.16 million. Cheesecake Factory had a net margin of 4.24% and a return on equity of 19.54%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 earnings per share.

A number of research firms have recently issued reports on CAKE. Maxim Group reissued a “buy” rating and issued a $61.00 price target on shares of Cheesecake Factory in a research report on Thursday. Raymond James reduced their price target on shares of Cheesecake Factory from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, July 15th. JPMorgan Chase & Co. reduced their price target on shares of Cheesecake Factory from $52.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Bank of America reissued a “neutral” rating and issued a $46.00 price target (down from $51.00) on shares of Cheesecake Factory in a research report on Thursday. Finally, TheStreet lowered shares of Cheesecake Factory from a “b” rating to a “c+” rating in a research report on Wednesday, May 29th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $49.25.

NASDAQ CAKE opened at $44.24 on Friday. The stock has a 50 day moving average of $43.94. The company has a quick ratio of 0.26, a current ratio of 0.35 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 1.29 and a beta of 0.43. Cheesecake Factory has a 52-week low of $40.71 and a 52-week high of $55.63.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Wednesday, August 14th will be paid a $0.36 dividend. This is an increase from Cheesecake Factory’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.44 annualized dividend and a dividend yield of 3.25%. Cheesecake Factory’s dividend payout ratio (DPR) is presently 54.32%.

In related news, Director Laurence B. Mindel acquired 2,000 shares of the stock in a transaction dated Thursday, May 16th. The shares were acquired at an average price of $47.50 per share, for a total transaction of $95,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edie A. Ames acquired 700 shares of the stock in a transaction dated Monday, May 13th. The stock was bought at an average price of $47.18 per share, for a total transaction of $33,026.00. Following the purchase, the director now owns 3,130 shares of the company’s stock, valued at approximately $147,673.40. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 4,200 shares of company stock worth $202,486. 8.50% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Retirement Systems of Alabama grew its stake in shares of Cheesecake Factory by 0.4% in the first quarter. Retirement Systems of Alabama now owns 54,295 shares of the restaurant operator’s stock worth $2,656,000 after acquiring an additional 212 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Cheesecake Factory by 1.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 17,101 shares of the restaurant operator’s stock worth $748,000 after purchasing an additional 238 shares during the period. Arizona State Retirement System lifted its position in Cheesecake Factory by 0.8% in the second quarter. Arizona State Retirement System now owns 30,187 shares of the restaurant operator’s stock worth $1,320,000 after purchasing an additional 238 shares during the period. Advisory Services Network LLC lifted its position in Cheesecake Factory by 38.2% in the second quarter. Advisory Services Network LLC now owns 894 shares of the restaurant operator’s stock worth $39,000 after purchasing an additional 247 shares during the period. Finally, 6 Meridian lifted its position in Cheesecake Factory by 2.5% in the second quarter. 6 Meridian now owns 10,622 shares of the restaurant operator’s stock worth $464,000 after purchasing an additional 255 shares during the period. Institutional investors and hedge funds own 98.26% of the company’s stock.

About Cheesecake Factory

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.

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

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