Zacks: Brokerages Expect Brinker International, Inc. (EAT) Will Post Quarterly Sales of $773.04 Million

Equities research analysts forecast that Brinker International, Inc. (NYSE:EAT) will announce $773.04 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Brinker International’s earnings, with the lowest sales estimate coming in at $771.06 million and the highest estimate coming in at $776.31 million. Brinker International posted sales of $771.04 million during the same quarter last year, which would indicate a positive year over year growth rate of 0.3%. The firm is expected to report its next earnings results on Wednesday, January 24th.

On average, analysts expect that Brinker International will report full year sales of $773.04 million for the current fiscal year, with estimates ranging from $3.12 billion to $3.17 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $3.18 billion per share, with estimates ranging from $3.14 billion to $3.25 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Brinker International.

Brinker International (NYSE:EAT) last announced its earnings results on Wednesday, November 1st. The restaurant operator reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The company had revenue of $739.40 million during the quarter, compared to analysts’ expectations of $749.05 million. Brinker International had a net margin of 4.39% and a negative return on equity of 30.36%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 earnings per share.

EAT has been the topic of a number of recent analyst reports. Canaccord Genuity reaffirmed a “hold” rating and issued a $40.00 target price on shares of Brinker International in a research note on Sunday, October 1st. Stifel Nicolaus initiated coverage on shares of Brinker International in a research note on Monday, October 2nd. They issued a “hold” rating and a $36.00 target price on the stock. Zacks Investment Research downgraded shares of Brinker International from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Stephens lowered their target price on shares of Brinker International from $40.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 11th. Finally, Barclays lowered their target price on shares of Brinker International from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $40.82.

In other Brinker International news, insider Wyman Roberts sold 33,683 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $37.88, for a total transaction of $1,275,912.04. Following the transaction, the insider now directly owns 137,572 shares in the company, valued at $5,211,227.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Charles A. Lousignont sold 3,364 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $33.00, for a total transaction of $111,012.00. Following the completion of the transaction, the senior vice president now owns 15,074 shares in the company, valued at approximately $497,442. The disclosure for this sale can be found here. Insiders have sold 237,047 shares of company stock worth $1,500,924 over the last quarter. Company insiders own 1.91% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Fox Run Management L.L.C. grew its holdings in shares of Brinker International by 171.3% in the fourth quarter. Fox Run Management L.L.C. now owns 25,228 shares of the restaurant operator’s stock worth $980,000 after purchasing an additional 15,928 shares during the last quarter. Creative Planning grew its holdings in shares of Brinker International by 25.1% in the fourth quarter. Creative Planning now owns 8,750 shares of the restaurant operator’s stock worth $340,000 after purchasing an additional 1,755 shares during the last quarter. Edmp Inc. grew its holdings in shares of Brinker International by 16.8% in the fourth quarter. Edmp Inc. now owns 11,155 shares of the restaurant operator’s stock worth $424,000 after purchasing an additional 1,605 shares during the last quarter. Atria Investments LLC grew its holdings in shares of Brinker International by 161.4% in the fourth quarter. Atria Investments LLC now owns 31,746 shares of the restaurant operator’s stock worth $1,233,000 after purchasing an additional 19,601 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Brinker International by 8.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 44,850 shares of the restaurant operator’s stock worth $1,742,000 after purchasing an additional 3,650 shares during the last quarter.

Shares of Brinker International (NYSE EAT) traded up $1.04 on Friday, reaching $38.31. 1,131,034 shares of the company were exchanged, compared to its average volume of 1,360,000. The stock has a market capitalization of $1,770.00, a P/E ratio of 13.83, a P/E/G ratio of 0.82 and a beta of 0.24. The company has a debt-to-equity ratio of -2.51, a current ratio of 0.34 and a quick ratio of 0.28. Brinker International has a 1-year low of $29.50 and a 1-year high of $47.23.

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Friday, December 8th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend was Thursday, December 7th. Brinker International’s payout ratio is currently 54.87%.

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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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