Brinker International, Inc. (NYSE:EAT) Given Average Rating of “Hold” by Brokerages
Shares of Brinker International, Inc. (NYSE:EAT) have been given a consensus rating of “Hold” by the nineteen brokerages that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $45.50.
Several research firms have commented on EAT. Barclays PLC lowered their price target on shares of Brinker International from $47.00 to $44.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 19th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Brinker International in a report on Monday, July 24th. Maxim Group reissued a “buy” rating and set a $54.00 target price on shares of Brinker International in a research note on Tuesday, April 25th. BMO Capital Markets raised shares of Brinker International from an “underperform” rating to a “market perform” rating and set a $40.00 target price on the stock in a research note on Thursday, June 22nd. Finally, Zacks Investment Research lowered shares of Brinker International from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th.
Shares of Brinker International (NYSE EAT) traded up 1.23% during trading on Friday, reaching $35.32. The company had a trading volume of 1,832,161 shares. The company’s 50 day moving average is $36.42 and its 200-day moving average is $41.04. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 11.53 and a beta of 0.25. Brinker International has a 1-year low of $33.41 and a 1-year high of $55.84.
Brinker International (NYSE:EAT) last posted its quarterly earnings results on Thursday, August 10th. The restaurant operator reported $1.09 EPS for the quarter, beating the 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 company had revenue of $810.66 million for the quarter, compared to analyst estimates of $809.94 million. During the same period in the prior year, the company earned $1.24 earnings per share. The firm’s revenue was down 8.1% on a year-over-year basis. On average, equities research analysts anticipate that Brinker International will post $3.22 earnings per share for the current year.
Brinker International declared that its board has authorized a stock repurchase program on Thursday, August 10th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the restaurant operator to reacquire up to 14.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 8th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend is Thursday, September 7th. This is an increase from Brinker International’s previous quarterly dividend of $0.34. Brinker International’s dividend payout ratio is 44.16%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EAT. Bruderman Asset Management LLC bought a new position in Brinker International during the second quarter valued at $123,000. LS Investment Advisors LLC increased its position in Brinker International by 18.7% in the first quarter. LS Investment Advisors LLC now owns 4,107 shares of the restaurant operator’s stock valued at $181,000 after buying an additional 647 shares during the period. Kernodle & Katon Asset Management Group LLC increased its position in Brinker International by 0.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 4,864 shares of the restaurant operator’s stock valued at $214,000 after buying an additional 17 shares during the period. ING Groep NV bought a new position in Brinker International during the second quarter valued at $227,000. Finally, Eqis Capital Management Inc. increased its position in Brinker International by 0.3% in the first quarter. Eqis Capital Management Inc. now owns 6,393 shares of the restaurant operator’s stock valued at $281,000 after buying an additional 18 shares during the period.
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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