Cheesecake Factory (NASDAQ:CAKE) Releases Earnings Results, Beats Expectations By $0.13 EPS

Cheesecake Factory (NASDAQ:CAKE) issued its earnings results on Wednesday. The restaurant operator reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.13, Zacks reports. Cheesecake Factory had a return on equity of 43.90% and a net margin of 3.63%.

Cheesecake Factory Stock Down 2.7 %

Shares of CAKE stock traded down $1.49 during mid-day trading on Wednesday, reaching $54.29. 3,093,441 shares of the company’s stock traded hands, compared to its average volume of 1,378,591. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.19. The company’s 50-day moving average price is $50.88 and its 200-day moving average price is $45.18. The company has a market cap of $2.77 billion, a P/E ratio of 20.64, a P/E/G ratio of 1.28 and a beta of 1.51. Cheesecake Factory has a 12 month low of $33.05 and a 12 month high of $57.32.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Barclays raised their target price on shares of Cheesecake Factory from $38.00 to $44.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. StockNews.com cut shares of Cheesecake Factory from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th. The Goldman Sachs Group upped their price objective on shares of Cheesecake Factory from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Bank of America raised their target price on Cheesecake Factory from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Wedbush upped their price target on Cheesecake Factory from $52.00 to $59.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Cheesecake Factory presently has a consensus rating of “Hold” and a consensus price target of $49.93.

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.