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Brinker International (NYSE:EAT)‘s stock had its “underperform” rating restated by Bank of America in a research note issued on Thursday, Analyst Ratings News reports. They currently have a $44.00 price objective on the stock, up from their previous price objective of $40.00. Bank of America’s target price suggests a potential downside of 11.11% from the company’s current price.

The analysts wrote, “EAT reported 3Q (March) EPS of $0.84, in-line with our estimate and a penny above consensus. Chili’s same store sales were up only modestly (+0.7% for company stores and +0.5% systemwide), but outperformed the Knapp-Track casual dining index by 250 bps. Most restaurant companies have highlighted negative winter weather impacts to sales and traffic to start the year and Brinker was no exception, citing a negative 100 bps impact to comps with a greater impact at Maggiano’s and less at Chili’s given the respective geographic footprints. “While top-line results were a little light vs. consensus (but solid within the context of a challenging industry backdrop), EAT performed well on the cost side as restaurant level margins beat our expectations by 10 bps and G&A was also better than expected. A 90 bps y/y improvement in food costs provided a boost, driven by flat inflation and strong margins for Chili’s new Fresh Mex menu items and flatbreads.”

Brinker International (NYSE:EAT) traded up 0.26% during mid-day trading on Thursday, hitting $49.50. The stock had a trading volume of 1,288,889 shares. Brinker International has a 1-year low of $37.23 and a 1-year high of $55.45. The stock’s 50-day moving average is $51.90 and its 200-day moving average is $47.80. The company has a market cap of $3.323 billion and a P/E ratio of 20.92.

Brinker International (NYSE:EAT) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $739.20 million for the quarter, compared to the consensus estimate of $767.18 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts predict that Brinker International will post $2.73 earnings per share for the current fiscal year.

EAT has been the subject of a number of other recent research reports. Analysts at Barclays raised their price target on shares of Brinker International from $54.00 to $61.00 in a research note on Tuesday, April 15th. They now have an “overweight” rating on the stock. Separately, analysts at Miller Tabak downgraded shares of Brinker International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. They now have a $54.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Zacks reiterated an “outperform” rating on shares of Brinker International in a research note on Friday, February 21st. They now have a $61.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $50.21.

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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