Brinker International, Inc. (EAT) Price Target Lowered to $34.00 at Stephens
Brinker International, Inc. (NYSE:EAT) had its price target reduced by investment analysts at Stephens from $40.00 to $34.00 in a research report issued to clients and investors on Wednesday. The brokerage presently has an “equal weight” rating on the restaurant operator’s stock. Stephens’ price target would indicate a potential upside of 7.12% from the stock’s current price.
Several other equities analysts also recently commented on the company. J P Morgan Chase & Co downgraded Brinker International from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $48.00 to $44.00 in a report on Thursday, June 15th. ValuEngine downgraded shares of Brinker International from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Brinker International from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. BMO Capital Markets upgraded shares of Brinker International from an “underperform” rating to a “market perform” rating and set a $40.00 price objective on the stock in a research note on Thursday, June 22nd. Finally, Maxim Group restated a “buy” rating and issued a $54.00 price objective on shares of Brinker International in a research note on Thursday, June 15th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $42.00.
Brinker International (EAT) traded down 2.22% on Wednesday, hitting $31.74. 1,236,423 shares of the stock were exchanged. The company has a market cap of $1.54 billion, a P/E ratio of 10.80 and a beta of 0.26. Brinker International has a one year low of $29.50 and a one year high of $55.84. The company’s 50 day moving average price is $31.84 and its 200-day moving average price is $37.71.
Brinker International (NYSE:EAT) last announced its quarterly earnings results on Thursday, August 10th. The restaurant operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.04 by $0.05. Brinker International had a negative return on equity of 31.46% and a net margin of 4.79%. The company had revenue of $810.66 million for the quarter, compared to the consensus estimate of $809.94 million. During the same quarter last year, the company posted $1.24 earnings per share. The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. Equities research analysts predict that Brinker International will post $3.23 EPS for the current fiscal year.
Brinker International declared that its Board of Directors has approved a stock repurchase program on Thursday, August 10th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the restaurant operator to purchase up to 14.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
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In other news, Director Michael A. George bought 16,450 shares of Brinker International stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average cost of $30.31 per share, with a total value of $498,599.50. Following the completion of the transaction, the director now directly owns 49,952 shares in the company, valued at $1,514,045.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.91% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Koch Industries Inc. bought a new position in shares of Brinker International during the second quarter valued at $533,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Brinker International by 30.0% during the second quarter. Ameritas Investment Partners Inc. now owns 18,730 shares of the restaurant operator’s stock valued at $714,000 after acquiring an additional 4,321 shares during the period. Nomura Holdings Inc. bought a new position in shares of Brinker International during the second quarter valued at $262,000. Bank of Nova Scotia bought a new position in shares of Brinker International during the second quarter valued at $4,243,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Brinker International by 52.7% during the second quarter. The Manufacturers Life Insurance Company now owns 107,988 shares of the restaurant operator’s stock valued at $4,114,000 after acquiring an additional 37,268 shares during the period.
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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