$1.06 Earnings Per Share Expected for Brinker International, Inc. (EAT) This Quarter
Analysts expect that Brinker International, Inc. (NYSE:EAT) will post earnings per share of $1.06 for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Brinker International’s earnings, with the highest EPS estimate coming in at $1.12 and the lowest estimate coming in at $0.98. Brinker International reported earnings of $1.24 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 14.5%. The firm is scheduled to issue its next earnings results on Thursday, August 10th.
According to Zacks, analysts expect that Brinker International will report full year earnings of $3.15 per share for the current year, with EPS estimates ranging from $3.11 to $3.20. For the next fiscal year, analysts forecast that the firm will report earnings of $3.21 per share, with EPS estimates ranging from $2.57 to $3.39. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Brinker International.
Brinker International (NYSE:EAT) last announced its quarterly earnings data on Tuesday, April 25th. The restaurant operator reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.09. The firm had revenue of $810.60 million during the quarter, compared to analysts’ expectations of $817.50 million. Brinker International had a negative return on equity of 39.89% and a net margin of 5.05%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.00 EPS.
A number of equities analysts recently commented on EAT shares. Canaccord Genuity reaffirmed a “hold” rating and issued a $43.00 price objective on shares of Brinker International in a research note on Friday, February 24th. Zacks Investment Research raised Brinker International from a “sell” rating to a “hold” rating in a research note on Tuesday, March 28th. Barclays PLC reaffirmed an “equal weight” rating and issued a $47.00 price objective on shares of Brinker International in a research note on Thursday, April 6th. Maxim Group reaffirmed a “buy” rating on shares of Brinker International in a research note on Monday, April 10th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $49.00 price objective on shares of Brinker International in a research note on Thursday, April 20th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $49.00.
In other Brinker International news, SVP David Roy Doyle sold 7,182 shares of the business’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $44.41, for a total value of $318,952.62. Following the transaction, the senior vice president now owns 54,074 shares of the company’s stock, valued at $2,401,426.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Steve Provost sold 2,750 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $44.06, for a total value of $121,165.00. Following the completion of the transaction, the executive vice president now directly owns 29,780 shares in the company, valued at approximately $1,312,106.80. The disclosure for this sale can be found here. 1.76% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Brinker International by 10,393.8% in the first quarter. BlackRock Inc. now owns 3,975,272 shares of the restaurant operator’s stock valued at $174,753,000 after buying an additional 3,937,390 shares in the last quarter. Norges Bank acquired a new position in Brinker International during the fourth quarter valued at $40,083,000. Vanguard Group Inc. boosted its position in Brinker International by 15.4% in the first quarter. Vanguard Group Inc. now owns 5,544,617 shares of the restaurant operator’s stock valued at $243,741,000 after buying an additional 738,302 shares in the last quarter. Alliancebernstein L.P. boosted its position in Brinker International by 33.8% in the first quarter. Alliancebernstein L.P. now owns 2,236,357 shares of the restaurant operator’s stock valued at $98,310,000 after buying an additional 565,294 shares in the last quarter. Finally, FMR LLC boosted its position in Brinker International by 114.0% in the first quarter. FMR LLC now owns 495,250 shares of the restaurant operator’s stock valued at $21,771,000 after buying an additional 263,790 shares in the last quarter.
Shares of Brinker International (NYSE:EAT) traded down 1.74% during mid-day trading on Wednesday, reaching $37.19. The company’s stock had a trading volume of 638,357 shares. The firm has a market cap of $1.82 billion, a PE ratio of 12.15 and a beta of 0.25. Brinker International has a 12 month low of $36.44 and a 12 month high of $55.84. The company has a 50-day moving average of $41.23 and a 200-day moving average of $44.42.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 29th. Shareholders of record on Monday, June 12th will be given a $0.34 dividend. The ex-dividend date is Thursday, June 8th. This represents a $1.36 annualized dividend and a yield of 3.59%. Brinker International’s dividend payout ratio is currently 44.16%.
About Brinker International
Brinker International, Inc is engaged in the ownership, operation, development, and franchising of the Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy (Maggiano’s) restaurant brands. The Company’s Chili’s operates Bar & Grill category of casual dining. Chili’s menu features authentic Fresh Mex and Fresh Tex cuisine, including signature items, such as Baby Back Ribs smoked in-house, Hand-Crafted Burgers served with house-made garlic dill pickles, Mix and Match Fajitas, Tableside Guacamole and house-made Chips and Salsa.
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