Brinker International, Inc. (NYSE:EAT) Plans Quarterly Dividend of $0.38
Brinker International, Inc. (NYSE:EAT) declared a quarterly dividend on Thursday, August 10th, RTT News reports. Investors of record on Friday, September 8th will be paid a dividend of 0.38 per share by the restaurant operator on Thursday, September 28th. This represents a $1.52 annualized dividend and a yield of 4.44%. This is an increase from Brinker International’s previous quarterly dividend of $0.34.
Brinker International has increased its dividend by an average of 14.5% per year over the last three years and has raised its dividend every year for the last 6 years. Brinker International has a dividend payout ratio of 43.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Brinker International to earn $3.12 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 43.6%.
Shares of Brinker International (NYSE:EAT) traded up 1.96% during trading on Thursday, reaching $34.94. 2,412,376 shares of the company traded hands. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 11.41 and a beta of 0.25. Brinker International has a 12-month low of $33.53 and a 12-month high of $55.84. The company has a 50 day moving average price of $36.55 and a 200 day moving average price of $41.17.
Brinker International (NYSE:EAT) last posted 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. Brinker International had a net margin of 5.05% and a negative return on equity of 39.89%. The firm had revenue of $810.66 million for the quarter, compared to analyst estimates of $809.94 million. During the same period in the previous year, the firm posted $1.24 EPS. The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, equities analysts predict that Brinker International will post $3.14 EPS for the current year.
EAT has been the topic of a number of research reports. Zacks Investment Research lowered shares of Brinker International from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. J P Morgan Chase & Co downgraded shares of Brinker International from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $48.00 to $44.00 in a research report on Thursday, June 15th. ValuEngine downgraded shares of Brinker International from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BMO Capital Markets upgraded shares of Brinker International from an “underperform” rating to a “market perform” rating and set a $40.00 price target on the stock in a research report on Thursday, June 22nd. Finally, Maxim Group restated a “buy” rating and issued a $54.00 price target on shares of Brinker International in a research report on Thursday, June 15th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $46.54.
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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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