Brinker International, Inc. (NYSE:EAT) Expected to Post Earnings of $1.05 Per Share
Wall Street brokerages expect Brinker International, Inc. (NYSE:EAT) to post $1.05 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have issued estimates for Brinker International’s earnings, with estimates ranging from $0.98 to $1.12. Brinker International reported earnings per share of $1.24 in the same quarter last year, which suggests a negative year-over-year growth rate of 15.3%. The company is scheduled to issue its next earnings report before the market opens on Thursday, August 10th.
According to Zacks, analysts expect that Brinker International will report full year earnings of $3.14 per share for the current financial year, with EPS estimates ranging from $3.10 to $3.20. For the next year, analysts anticipate that the firm will post earnings of $3.12 per share, with EPS estimates ranging from $2.57 to $3.31. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for Brinker International.
Several brokerages have recently weighed in on EAT. ValuEngine upgraded Brinker International from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Royal Bank Of Canada decreased their price objective on Brinker International from $49.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday. Sanford C. Bernstein restated a “market perform” rating and issued a $50.00 price objective on shares of Brinker International in a report on Tuesday, July 25th. Maxim Group decreased their price objective on Brinker International from $54.00 to $49.00 and set a “buy” rating for the company in a report on Thursday. Finally, Barclays PLC decreased their price objective on Brinker International from $47.00 to $44.00 and set an “equal weight” rating for the company in a report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $46.54.
In other news, EVP Steve Provost sold 2,750 shares of Brinker International stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $44.06, for a total value of $121,165.00. Following the completion of the sale, the executive vice president now directly owns 29,780 shares in the company, valued at $1,312,106.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.76% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Boston Financial Mangement LLC increased its stake in Brinker International by 1.1% in the first quarter. Boston Financial Mangement LLC now owns 111,009 shares of the restaurant operator’s stock worth $4,880,000 after buying an additional 1,168 shares during the last quarter. Atria Investments LLC increased its stake in Brinker International by 72.9% in the first quarter. Atria Investments LLC now owns 9,321 shares of the restaurant operator’s stock worth $410,000 after buying an additional 3,930 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in Brinker International by 14.7% in the first quarter. UBS Asset Management Americas Inc. now owns 41,808 shares of the restaurant operator’s stock worth $1,838,000 after buying an additional 5,350 shares during the last quarter. Karp Capital Management Corp acquired a new stake in Brinker International during the first quarter worth $2,980,000. Finally, Bank of New York Mellon Corp increased its stake in Brinker International by 6.8% in the first quarter. Bank of New York Mellon Corp now owns 1,160,945 shares of the restaurant operator’s stock worth $51,035,000 after buying an additional 73,715 shares during the last quarter.
Brinker International (EAT) traded up 0.96% during mid-day trading on Friday, hitting $34.71. The stock had a trading volume of 931,667 shares. The stock’s 50-day moving average is $37.21 and its 200 day moving average is $41.61. The company has a market capitalization of $1.70 billion, a P/E ratio of 11.34 and a beta of 0.25. Brinker International has a 52 week low of $34.18 and a 52 week high of $55.84.
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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