The Cheesecake Factory Incorporated (CAKE) Issues FY17 Earnings Guidance
The Cheesecake Factory Incorporated (NASDAQ:CAKE) updated its FY17 earnings guidance on Wednesday. The company provided EPS guidance of $2.62-2.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.85. The Cheesecake Factory also updated its Q3 guidance to $0.60-0.64 EPS.
A number of brokerages have recently issued reports on CAKE. BidaskClub cut The Cheesecake Factory from a sell rating to a strong sell rating in a report on Thursday, July 27th. Barclays PLC reiterated an equal weight rating and set a $48.00 target price (down previously from $53.00) on shares of The Cheesecake Factory in a report on Thursday. Nomura decreased their target price on The Cheesecake Factory from $50.00 to $44.00 and set a neutral rating for the company in a report on Thursday. Instinet reiterated a neutral rating and set a $44.00 target price (down previously from $50.00) on shares of The Cheesecake Factory in a report on Thursday. Finally, Canaccord Genuity reiterated a hold rating on shares of The Cheesecake Factory in a report on Friday. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. The Cheesecake Factory presently has an average rating of Hold and a consensus target price of $55.18.
Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) traded up 2.13% during trading on Friday, hitting $45.13. The company’s stock had a trading volume of 1,889,752 shares. The Cheesecake Factory Incorporated has a 1-year low of $44.02 and a 1-year high of $67.14. The company has a market capitalization of $2.08 billion, a P/E ratio of 15.79 and a beta of 0.31. The firm’s 50 day moving average is $50.13 and its 200-day moving average is $58.36.
The Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Wednesday, August 2nd. The restaurant operator reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.02. The firm had revenue of $569.87 million for the quarter, compared to analyst estimates of $573.12 million. The Cheesecake Factory had a return on equity of 23.23% and a net margin of 6.10%. The company’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 EPS. Analysts forecast that The Cheesecake Factory Incorporated will post $2.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Wednesday, August 16th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.16 dividend on an annualized basis and a yield of 2.57%. This is a positive change from The Cheesecake Factory’s previous quarterly dividend of $0.24. The Cheesecake Factory’s dividend payout ratio (DPR) is 33.68%.
In other The Cheesecake Factory news, VP Debby R. Zurzolo sold 6,424 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $59.09, for a total value of $379,594.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 8.50% of the company’s stock.
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The 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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