Cheesecake Factory Inc (CAKE) to Post FY2018 Earnings of $2.83 Per Share, Oppenheimer Forecasts

Cheesecake Factory Inc (NASDAQ:CAKE) – Research analysts at Oppenheimer upped their FY2018 EPS estimates for shares of Cheesecake Factory in a research note issued to investors on Thursday, according to Zacks Investment Research. Oppenheimer analyst B. Bittner now anticipates that the restaurant operator will earn $2.83 per share for the year, up from their previous estimate of $2.57.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, November 1st. The restaurant operator reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.04). The business had revenue of $555.40 million during the quarter, compared to the consensus estimate of $566.09 million. Cheesecake Factory had a net margin of 5.76% and a return on equity of 21.65%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS.

CAKE has been the subject of a number of other research reports. Maxim Group cut their price target on shares of Cheesecake Factory from $57.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, November 2nd. Nomura cut their price target on shares of Cheesecake Factory from $44.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, October 27th. BTIG Research reaffirmed a “buy” rating and set a $50.00 price target on shares of Cheesecake Factory in a report on Wednesday, September 20th. Stephens cut their price target on shares of Cheesecake Factory from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Wednesday, October 11th. Finally, Morgan Stanley cut their price target on shares of Cheesecake Factory from $48.00 to $44.00 and set an “equal weight” rating for the company in a report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $48.81.

Shares of Cheesecake Factory (NASDAQ:CAKE) traded down $0.04 during trading on Monday, hitting $47.59. 810,511 shares of the stock were exchanged, compared to its average volume of 1,039,155. Cheesecake Factory has a 12 month low of $38.34 and a 12 month high of $67.14. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.37 and a current ratio of 0.51. The company has a market cap of $2,190.00, a P/E ratio of 17.56, a PEG ratio of 1.25 and a beta of 0.33.

In related news, VP Debby R. Zurzolo sold 2,415 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $44.20, for a total value of $106,743.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herbert Simon purchased 25,000 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was acquired at an average price of $43.50 per share, with a total value of $1,087,500.00. The disclosure for this purchase can be found here. 8.40% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CAKE. Tiedemann Wealth Management LLC increased its position in Cheesecake Factory by 22.9% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 17,347 shares of the restaurant operator’s stock valued at $134,000 after acquiring an additional 3,237 shares during the period. Victory Capital Management Inc. increased its position in Cheesecake Factory by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,216 shares of the restaurant operator’s stock valued at $162,000 after acquiring an additional 482 shares during the period. Riverhead Capital Management LLC increased its position in Cheesecake Factory by 105.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,493 shares of the restaurant operator’s stock valued at $176,000 after acquiring an additional 1,793 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in Cheesecake Factory in the 2nd quarter valued at approximately $205,000. Finally, BlueMountain Capital Management LLC acquired a new position in Cheesecake Factory in the 2nd quarter valued at approximately $243,000.

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Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

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