Zacks Reiterates “Outperform” Rating for Brinker International (EAT)
Brinker International (NYSE:EAT)‘s stock had its “outperform” rating reaffirmed by Zacks in a research report issued on Friday, Analyst Ratings Network.com reports. They currently have a $60.00 price target on the stock. Zacks‘ target price would suggest a potential upside of 19.43% from the stock’s previous close.
Zacks‘ analyst wrote, “Brinker International’s fiscal second quarter 2014 earnings and revenues beat the Zacks Consensus Estimate by 1.7%and 1.0%, respectively driven by strong comps. Both the parameters were also up year over year. Company-owned comps were up 0.8% in fiscal second quarter 2014, much better than a decline of 1.3% in the previous quarter. The results indicate that the initiatives taken by the company like online ordering, menu innovation and the adoption of new kitchen equipment have started reaping benefits. Moreover, Brinker s prototype Maggiano’s unit is aiding growth in non-traditional locations and also improving return on invested capital. Aggressive expansion as well as extensive reimaging is also in the cards. The company expects commodity inflation rate to remain flat throughout calendar 2014 as its commodities are hedged for most of the year. We maintain our Outperform recommendation on the stock.”
Brinker International (NYSE:EAT) traded down 1.13% on Friday, hitting $49.67. 723,952 shares of the company’s stock traded hands. Brinker International has a 52 week low of $30.89 and a 52 week high of $50.74. The stock’s 50-day moving average is $46.12 and its 200-day moving average is $43.06. The company has a market cap of $3.329 billion and a P/E ratio of 22.05.
Brinker International (NYSE:EAT) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.59 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.58 by $0.01. The company had revenue of $684.40 million for the quarter, compared to the consensus estimate of $699.49 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts expect that Brinker International will post $2.71 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Barclays raised their price target on shares of Brinker International from $51.00 to $54.00 in a research note to investors on Thursday. They now have an “overweight” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Brinker International from $50.00 to $56.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at Miller Tabak raised their price target on shares of Brinker International from $50.00 to $54.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $47.19.
Brinker International, Inc (NYSE:EAT) owns, develops, operates and franchises the Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy (Maggiano’s) restaurant brands.
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