Brinker International, Inc. (EAT) Expected to Post Quarterly Sales of $756.47 Million
Brokerages expect Brinker International, Inc. (NYSE:EAT) to announce $756.47 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Brinker International’s earnings. The lowest sales estimate is $745.89 million and the highest is $775.45 million. Brinker International reported sales of $758.49 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0.3%. The business is expected to report its next earnings results on Tuesday, October 24th.
On average, analysts expect that Brinker International will report full-year sales of $756.47 million for the current financial year, with estimates ranging from $3.13 billion to $3.19 billion. For the next year, analysts forecast that the company will post sales of $3.20 billion per share, with estimates ranging from $3.16 billion to $3.25 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Brinker International.
Brinker International (NYSE:EAT) last announced its earnings results on Thursday, August 10th. The restaurant operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.05. Brinker International had a net margin of 4.79% and a negative return on equity of 31.46%. The firm had revenue of $810.66 million for the quarter, compared to the consensus estimate of $809.94 million. During the same period in the prior year, the firm earned $1.24 EPS. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis.
Several research analysts recently commented on EAT shares. ValuEngine upgraded shares of Brinker International from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Telsey Advisory Group dropped their price objective on shares of Brinker International from $49.00 to $40.00 and set a “market perform” rating on the stock in a research note on Monday, July 17th. Maxim Group reiterated a “buy” rating and set a $49.00 price objective on shares of Brinker International in a research note on Tuesday, September 12th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $40.00 price objective (down previously from $49.00) on shares of Brinker International in a research note on Wednesday, August 9th. Finally, Zacks Investment Research lowered shares of Brinker International from a “hold” rating to a “strong sell” rating in a research note on Friday, July 21st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the stock. Brinker International has an average rating of “Hold” and an average price target of $41.23.
Shares of Brinker International (EAT) traded down 1.64% during midday trading on Friday, reaching $31.87. 1,462,486 shares of the company traded hands. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 10.84 and a beta of 0.26. Brinker International has a 12 month low of $29.50 and a 12 month high of $55.84. The company’s 50 day moving average is $31.81 and its 200-day moving average is $37.13.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Friday, September 8th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date was Thursday, September 7th. This is an increase from Brinker International’s previous quarterly dividend of $0.34. Brinker International’s payout ratio is currently 50.84%.
Brinker International declared that its board has approved a share repurchase program on Thursday, August 10th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the restaurant operator to reacquire up to 14.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
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In other Brinker International news, Director Michael A. George acquired 16,450 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was purchased at an average price of $30.31 per share, with a total value of $498,599.50. Following the completion of the acquisition, the director now directly owns 49,952 shares in the company, valued at approximately $1,514,045.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.91% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Bruderman Asset Management LLC acquired a new position in shares of Brinker International during the second quarter valued at $123,000. LS Investment Advisors LLC boosted its holdings in shares of Brinker International by 14.2% during the second quarter. LS Investment Advisors LLC now owns 4,689 shares of the restaurant operator’s stock valued at $179,000 after acquiring an additional 582 shares during the period. ING Groep NV acquired a new position in shares of Brinker International during the second quarter valued at $227,000. Profund Advisors LLC boosted its holdings in shares of Brinker International by 0.8% during the second quarter. Profund Advisors LLC now owns 6,849 shares of the restaurant operator’s stock valued at $261,000 after acquiring an additional 57 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in shares of Brinker International during the second quarter valued at $262,000.
Brinker International Company Profile
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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