Raymond James Reiterates Market Perform Rating on Cheesecake Factory (CAKE) Following 3Q

Raymond James analyst Brian Vaccaro reiterated a Market Perform rating on Cheesecake Factory (NASDAQ: CAKE) following the company's 3Q earnings report. Cheesecake Factory reported 3Q19 operating EPS of $0.59 compared to the consensus of $0.55. The EPS beat was driven by better than expected G&A and lower pre-opening, while comps and store margins were essentially in-line.

4Q19 EPS guidance was set at $0.61-0.66, reflecting comps +0.5-1.5%. Raymond James raised 2019 EPS estimates by $0.08 to $2.66 reflecting the 3Q beat and a $0.05 bump in 4Q estimates to $0.63. 2020 EPS estimate is raised by $0.15 to $2.80 reflecting the higher 2019 base and the benefit of lower delivery fees.

For an analyst ratings summary and ratings history on Cheesecake Factory click here. For more ratings news on Cheesecake Factory click here.

Shares of Cheesecake Factory closed at $43.78 yesterday.

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