Brinker International, Inc. (EAT) Price Target Cut to $38.00
Brinker International, Inc. (NYSE:EAT) had its price target decreased by investment analysts at Barclays PLC from $41.00 to $38.00 in a research report issued on Wednesday. The firm presently has an “equal weight” rating on the restaurant operator’s stock. Barclays PLC’s price target points to a potential upside of 17.47% from the stock’s current price.
A number of other brokerages also recently weighed in on EAT. Raymond James Financial, Inc. restated a “market perform” rating on shares of Brinker International in a report on Monday, July 24th. ValuEngine downgraded shares of Brinker International from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Telsey Advisory Group lowered their target price on shares of Brinker International from $40.00 to $37.00 and set a “market perform” rating on the stock in a report on Tuesday, September 19th. BMO Capital Markets set a $36.00 target price on shares of Brinker International and gave the stock a “hold” rating in a report on Saturday, August 12th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $50.00 target price on shares of Brinker International in a report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $41.23.
Brinker International (NYSE EAT) traded up 0.68% on Wednesday, reaching $32.57. 961,764 shares of the company’s stock traded hands. Brinker International has a 52-week low of $29.50 and a 52-week high of $55.84. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 11.08 and a beta of 0.26. The stock’s 50 day moving average is $31.74 and its 200 day moving average is $37.46.
Brinker International (NYSE:EAT) last issued 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. The business had revenue of $810.66 million for the quarter, compared to the consensus estimate of $809.94 million. Brinker International had a net margin of 4.79% and a negative return on equity of 31.46%. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.24 earnings per share. On average, equities research analysts predict that Brinker International will post $3.23 EPS for the current fiscal year.
Brinker International declared that its board has approved a share repurchase program on Thursday, August 10th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the restaurant operator to reacquire up to 14.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
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In related news, Director Michael A. George bought 16,450 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was purchased at an average price of $30.31 per share, with a total value of $498,599.50. Following the completion of the acquisition, the director now owns 49,952 shares of the company’s stock, valued at $1,514,045.12. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.91% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Bruderman Asset Management LLC acquired a new position in shares of Brinker International in the second quarter valued at approximately $123,000. LS Investment Advisors LLC increased its stake in shares of Brinker International by 14.2% in the second quarter. LS Investment Advisors LLC now owns 4,689 shares of the restaurant operator’s stock valued at $179,000 after buying an additional 582 shares during the period. ING Groep NV acquired a new position in shares of Brinker International in the second quarter valued at approximately $227,000. Profund Advisors LLC increased its stake in shares of Brinker International by 0.8% in the second quarter. Profund Advisors LLC now owns 6,849 shares of the restaurant operator’s stock valued at $261,000 after buying an additional 57 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in shares of Brinker International in the second quarter valued at approximately $262,000.
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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