BMO Capital Markets Analysts Give Brinker International, Inc. (EAT) a $36.00 Price Target
Brinker International, Inc. (NYSE:EAT) has been assigned a $36.00 price target by investment analysts at BMO Capital Markets in a research report issued to clients and investors on Saturday. The firm currently has a “hold” rating on the restaurant operator’s stock. BMO Capital Markets’ price target would suggest a potential upside of 1.93% from the company’s previous close.
Several other equities research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Brinker International from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. J P Morgan Chase & Co cut shares of Brinker International from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $48.00 to $44.00 in a research report on Thursday, June 15th. ValuEngine cut shares of Brinker International from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Royal Bank Of Canada reiterated a “hold” rating and set a $49.00 price target on shares of Brinker International in a research report on Thursday, April 20th. Finally, Maxim Group reissued a “buy” rating and set a $54.00 price objective on shares of Brinker International in a research note on Thursday, June 15th. Three research analysts have 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. Brinker International presently has an average rating of “Hold” and an average price target of $45.67.
Shares of Brinker International (EAT) opened at 35.32 on Friday. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 12.01 and a beta of 0.25. Brinker International has a 1-year low of $33.41 and a 1-year high of $55.84. The company’s 50-day moving average is $36.42 and its 200 day moving average is $41.04.
Brinker International (NYSE:EAT) last issued its quarterly earnings results on Thursday, August 10th. The restaurant operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.04 by $0.05. Brinker International had a net margin of 4.79% and a negative return on equity of 31.46%. The company had revenue of $810.66 million during the quarter, compared to analysts’ expectations of $809.94 million. During the same quarter in the previous year, the company earned $1.24 EPS. Brinker International’s revenue was down 8.1% on a year-over-year basis. On average, analysts expect that Brinker International will post $3.22 EPS for the current fiscal year.
Brinker International declared that its Board of Directors has authorized a share buyback plan on Thursday, August 10th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to buy up to 14.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Brinker International by 5.9% in the second quarter. Vanguard Group Inc. now owns 5,874,194 shares of the restaurant operator’s stock worth $223,806,000 after buying an additional 329,577 shares in the last quarter. BlackRock Inc. raised its stake in shares of Brinker International by 27.8% in the second quarter. BlackRock Inc. now owns 5,080,271 shares of the restaurant operator’s stock worth $193,557,000 after buying an additional 1,104,999 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Brinker International by 33.8% in the first quarter. Alliancebernstein L.P. now owns 2,236,357 shares of the restaurant operator’s stock worth $98,310,000 after buying an additional 565,294 shares in the last quarter. Cooke & Bieler LP raised its stake in shares of Brinker International by 4.4% in the second quarter. Cooke & Bieler LP now owns 1,522,933 shares of the restaurant operator’s stock worth $58,024,000 after buying an additional 64,780 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Brinker International by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,198,052 shares of the restaurant operator’s stock worth $45,647,000 after buying an additional 9,729 shares in the last quarter.
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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