Brinker International, Inc. (EAT) Receives Consensus Rating of “Hold” from Brokerages
Shares of Brinker International, Inc. (NYSE:EAT) have been assigned an average rating of “Hold” from the eighteen analysts that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $41.00.
A number of analysts have recently weighed in on EAT shares. Barclays PLC reaffirmed an “equal weight” rating and issued a $47.00 target price on shares of Brinker International in a research report on Tuesday, July 4th. Telsey Advisory Group reduced their target price on shares of Brinker International from $49.00 to $40.00 and set a “market perform” rating on the stock in a research report on Monday, July 17th. Zacks Investment Research cut shares of Brinker International from a “hold” rating to a “strong sell” rating in a research note on Friday, July 21st. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Brinker International in a research note on Monday, July 24th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $50.00 price target on shares of Brinker International in a research note on Tuesday, July 25th.
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 bought at an average cost of $30.31 per share, with a total value of $498,599.50. Following the acquisition, the director now owns 49,952 shares of the company’s stock, valued at approximately $1,514,045.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.91% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Airain ltd purchased a new stake in Brinker International in the 2nd quarter worth approximately $2,031,000. UBS Asset Management Americas Inc. grew its holdings in Brinker International by 14.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 41,808 shares of the restaurant operator’s stock valued at $1,838,000 after buying an additional 5,350 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Brinker International by 87.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 109,883 shares of the restaurant operator’s stock valued at $4,187,000 after buying an additional 51,313 shares in the last quarter. AQR Capital Management LLC grew its holdings in Brinker International by 8.1% during the 1st quarter. AQR Capital Management LLC now owns 818,007 shares of the restaurant operator’s stock valued at $35,960,000 after buying an additional 61,390 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in Brinker International by 27.8% during the 2nd quarter. BlackRock Inc. now owns 5,080,271 shares of the restaurant operator’s stock valued at $193,557,000 after buying an additional 1,104,999 shares in the last quarter.
Brinker International (NYSE:EAT) traded down 2.53% on Wednesday, hitting $30.88. 2,366,788 shares of the company’s stock were exchanged. The stock has a market cap of $1.50 billion, a P/E ratio of 10.50 and a beta of 0.26. Brinker International has a 52-week low of $29.50 and a 52-week high of $55.84. The firm has a 50 day moving average price of $31.82 and a 200-day moving average price of $36.85.
Brinker International (NYSE:EAT) last released its earnings results on Thursday, August 10th. The restaurant operator reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.05. The firm had revenue of $810.66 million for the quarter, compared to the consensus estimate of $809.94 million. Brinker International had a net margin of 4.79% and a negative return on equity of 31.46%. The company’s revenue was down 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.24 EPS. Analysts predict that Brinker International will post $3.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Friday, September 8th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.92%. This is a positive change from Brinker International’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, September 7th. Brinker International’s dividend payout ratio is currently 50.84%.
Brinker International announced that its board has initiated a stock buyback 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 generally a sign that the company’s management believes its stock is undervalued.
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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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