Brinker International, Inc. (EAT) Expected to Announce Quarterly Sales of $813.02 Million
Brokerages forecast that Brinker International, Inc. (NYSE:EAT) will announce $813.02 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Brinker International’s earnings. The lowest sales estimate is $809.67 million and the highest is $819.59 million. Brinker International reported sales of $824.64 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.4%. The company is expected to issue its next quarterly earnings report before the market opens on Tuesday, April 25th.
According to Zacks, analysts expect that Brinker International will report full year sales of $813.02 million for the current year, with estimates ranging from $3.15 billion to $3.18 billion. For the next fiscal year, analysts anticipate that the company will post sales of $3.2 billion per share, with estimates ranging from $3.16 billion to $3.25 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Brinker International.
Brinker International (NYSE:EAT) last announced its earnings results on Wednesday, January 25th. The restaurant operator reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by $0.04. Brinker International had a net margin of 5.49% and a negative return on equity of 49.35%. The business had revenue of $771 million for the quarter, compared to analysts’ expectations of $792.60 million. During the same period in the prior year, the company posted $0.78 earnings per share. The firm’s quarterly revenue was down 2.2% on a year-over-year basis.
Several research analysts recently weighed in on the company. Barclays PLC reissued an “equal weight” rating and set a $47.00 price target on shares of Brinker International in a research report on Thursday, April 6th. Maxim Group reissued a “buy” rating on shares of Brinker International in a research report on Monday, April 10th. Zacks Investment Research lowered Brinker International from a “hold” rating to a “sell” rating in a research report on Tuesday. BMO Capital Markets set a $42.00 price target on Brinker International and gave the company a “sell” rating in a research report on Saturday, January 21st. Finally, Royal Bank of Canada dropped their price target on Brinker International from $52.00 to $49.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 26th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $50.33.
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Shares of Brinker International (NYSE:EAT) traded up 1.27% during mid-day trading on Thursday, reaching $43.10. 1,545,392 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $42.60 and its 200-day moving average price is $47.50. The company has a market capitalization of $2.11 billion, a PE ratio of 13.35 and a beta of 0.23. Brinker International has a one year low of $40.92 and a one year high of $55.84.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 30th. Shareholders of record on Friday, March 10th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Wednesday, March 8th. Brinker International’s payout ratio is currently 42.24%.
In other news, Director Harriet Edelman sold 3,218 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $42.45, for a total transaction of $136,604.10. Following the completion of the sale, the director now owns 22,059 shares in the company, valued at approximately $936,404.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Valade sold 10,500 shares of the company’s stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $45.81, for a total value of $481,005.00. Following the sale, the executive vice president now owns 65,919 shares of the company’s stock, valued at approximately $3,019,749.39. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,218 shares of company stock worth $639,039. Insiders own 1.76% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its stake in Brinker International by 2.7% in the third quarter. BlackRock Fund Advisors now owns 2,029,429 shares of the restaurant operator’s stock valued at $102,344,000 after buying an additional 53,958 shares during the period. Boyar Asset Management Inc. bought a new stake in Brinker International during the third quarter valued at about $1,879,000. Dynamic Capital Management Ltd bought a new stake in Brinker International during the third quarter valued at about $5,145,000. BlackRock Advisors LLC increased its stake in Brinker International by 0.3% in the third quarter. BlackRock Advisors LLC now owns 32,052 shares of the restaurant operator’s stock valued at $1,616,000 after buying an additional 82 shares during the period. Finally, Russell Investments Group Ltd. bought a new stake in Brinker International during the fourth quarter valued at about $10,618,000.
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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