Cheesecake Factory (NASDAQ:CAKE) Issues Earnings Results, Beats Estimates By $0.11 EPS

Cheesecake Factory (NASDAQ:CAKE) announced its quarterly earnings data on Tuesday. The restaurant operator reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11, Briefing.com reports. Cheesecake Factory had a return on equity of 43.62% and a net margin of 3.32%. The firm had revenue of $865.50 million for the quarter, compared to the consensus estimate of $866.13 million. During the same quarter last year, the business posted $0.39 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year.

Cheesecake Factory Stock Performance

CAKE traded up $4.98 on Wednesday, hitting $47.84. 1,948,961 shares of the company traded hands, compared to its average volume of 949,300. The company has a 50 day moving average of $39.85 and a 200-day moving average of $38.30. The company has a quick ratio of 0.32, a current ratio of 0.43 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $2.44 billion, a PE ratio of 20.12, a PEG ratio of 1.13 and a beta of 1.49. Cheesecake Factory has a 12-month low of $29.27 and a 12-month high of $49.75.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CAKE shares. Barclays lifted their target price on Cheesecake Factory from $38.00 to $44.00 and gave the company an “underweight” rating in a research report on Wednesday. Citigroup lifted their target price on Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Wedbush lifted their target price on Cheesecake Factory from $48.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday. Robert W. Baird boosted their price objective on Cheesecake Factory from $40.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Stephens boosted their price objective on Cheesecake Factory from $50.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Cheesecake Factory has an average rating of “Hold” and a consensus price target of $44.00.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.