Brinker International, Inc. (EAT) Upgraded to “Market Perform” by BMO Capital Markets
Brinker International, Inc. (NYSE:EAT) was upgraded by investment analysts at BMO Capital Markets from an “underperform” rating to a “market perform” rating in a research note issued on Thursday, MarketBeat reports. The firm currently has a $40.00 price target on the restaurant operator’s stock. BMO Capital Markets’ target price would indicate a potential upside of 6.55% from the stock’s current price.
Other research analysts have also issued research reports about the company. Maxim Group restated a “buy” rating and set a $54.00 price objective on shares of Brinker International in a research report on Tuesday, April 25th. Barclays PLC restated an “equal weight” rating and set a $47.00 price objective on shares of Brinker International in a research report on Thursday, April 6th. Stephens reiterated an “equal weight” rating and set a $52.00 price target on shares of Brinker International in a research report on Wednesday, April 26th. ValuEngine lowered Brinker International from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research upgraded Brinker International from a “sell” rating to a “hold” rating in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $48.85.
Shares of Brinker International (NYSE EAT) opened at 37.54 on Thursday. The company’s 50 day moving average price is $41.23 and its 200 day moving average price is $44.42. Brinker International has a one year low of $36.44 and a one year high of $55.84. The firm has a market capitalization of $1.84 billion, a P/E ratio of 12.26 and a beta of 0.25.
Brinker International (NYSE:EAT) last released its quarterly earnings data on Tuesday, April 25th. The restaurant operator reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.09. Brinker International had a negative return on equity of 39.89% and a net margin of 5.05%. The business had revenue of $810.60 million during the quarter, compared to analyst estimates of $817.50 million. During the same quarter in the previous year, the firm posted $1.00 EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, analysts expect that Brinker International will post $3.15 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Monday, June 12th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Thursday, June 8th. Brinker International’s dividend payout ratio is presently 44.16%.
In other news, 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 sale, the executive vice president now owns 29,780 shares of the company’s stock, valued at approximately $1,312,106.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the sale, the senior vice president now directly owns 54,074 shares in the company, valued at approximately $2,401,426.34. The disclosure for this sale can be found here. 1.76% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of EAT. Caxton Associates LP purchased a new stake in Brinker International during the first quarter worth approximately $440,000. AQR Capital Management LLC increased its stake in Brinker International by 8.1% in the first quarter. AQR Capital Management LLC now owns 818,007 shares of the restaurant operator’s stock worth $35,960,000 after buying an additional 61,390 shares in the last quarter. Bank of America Corp DE increased its stake in Brinker International by 17.0% in the first quarter. Bank of America Corp DE now owns 514,757 shares of the restaurant operator’s stock worth $22,628,000 after buying an additional 74,742 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Brinker International during the first quarter worth approximately $2,469,000. Finally, Kernodle & Katon Asset Management Group LLC increased its stake in Brinker International by 0.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 4,864 shares of the restaurant operator’s stock worth $214,000 after buying an additional 17 shares in the last quarter.
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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