Brinker International, Inc. (NYSE:EAT) announced a quarterly dividend on Tuesday, February 6th, RTT News reports. Investors of record on Friday, March 9th will be paid a dividend of 0.38 per share by the restaurant operator on Thursday, March 29th. This represents a $1.52 dividend on an annualized basis and a yield of 4.51%.
Brinker International has raised its dividend by an average of 11.5% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Brinker International has a dividend payout ratio of 45.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Brinker International to earn $3.56 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 42.7%.
Shares of Brinker International (NYSE EAT) traded down $0.63 during trading hours on Tuesday, reaching $33.70. The company had a trading volume of 2,817,897 shares, compared to its average volume of 1,916,572. The firm has a market capitalization of $1,673.59, a P/E ratio of 12.77, a P/E/G ratio of 0.78 and a beta of 0.12. Brinker International has a 1-year low of $29.50 and a 1-year high of $46.16. The company has a quick ratio of 0.28, a current ratio of 0.43 and a debt-to-equity ratio of -2.47.
A number of brokerages recently issued reports on EAT. Citigroup increased their price target on Brinker International from $39.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday. Zacks Investment Research raised Brinker International from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Friday. ValuEngine downgraded Brinker International from a “buy” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada reissued a “hold” rating and set a $40.00 price target on shares of Brinker International in a research report on Wednesday, January 31st. Finally, Barclays reduced their price target on Brinker International from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. Brinker International has an average rating of “Hold” and an average target price of $41.08.
In other Brinker International news, Director Andres Tinajero sold 200,000 shares of the firm’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $0.57, for a total value of $114,000.00. Also, SVP Charles A. Lousignont sold 3,364 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $33.00, for a total value of $111,012.00. Following the completion of the sale, the senior vice president now directly owns 15,074 shares in the company, valued at approximately $497,442. The disclosure for this sale can be found here. In the last ninety days, insiders sold 237,047 shares of company stock worth $1,500,924. Company insiders own 1.91% of the company’s stock.
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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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