Brinker International (NYSE:EAT) Updates FY 2024 Earnings Guidance

Brinker International (NYSE:EAT) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 3.800-4.000 for the period, compared to the consensus estimate of 3.690. The company issued revenue guidance of $4.3 billion-$4.4 billion, compared to the consensus revenue estimate of $4.3 billion. Brinker International also updated its FY24 guidance to $3.80-4.00 EPS.

Brinker International Stock Performance

NYSE EAT traded up $4.54 during trading hours on Tuesday, hitting $54.20. 2,652,259 shares of the company’s stock were exchanged, compared to its average volume of 1,308,061. The firm has a market capitalization of $2.40 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 0.79 and a beta of 2.46. The business’s 50 day moving average is $47.27 and its 200-day moving average is $41.82. Brinker International has a 12-month low of $28.23 and a 12-month high of $54.68.

Brinker International (NYSE:EAT) last announced its quarterly earnings data on Wednesday, January 31st. The restaurant operator reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.05. Brinker International had a net margin of 3.63% and a negative return on equity of 113.41%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.08 billion. As a group, equities research analysts anticipate that Brinker International will post 3.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Raymond James upped their price objective on Brinker International from $45.00 to $50.00 and gave the stock a strong-buy rating in a report on Thursday, February 1st. Stifel Nicolaus raised their price objective on Brinker International from $50.00 to $55.00 and gave the stock a buy rating in a report on Thursday, April 11th. Morgan Stanley lifted their price objective on Brinker International from $36.00 to $39.00 and gave the company an underweight rating in a research note on Friday, April 12th. BMO Capital Markets increased their target price on shares of Brinker International from $52.00 to $55.00 and gave the stock an outperform rating in a research report on Thursday, February 1st. Finally, Evercore ISI lifted their price target on shares of Brinker International from $48.00 to $50.00 and gave the company an in-line rating in a research report on Thursday, April 18th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $44.81.

Insiders Place Their Bets

In other Brinker International news, CFO Joseph G. Taylor sold 24,163 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $44.97, for a total transaction of $1,086,610.11. Following the completion of the sale, the chief financial officer now owns 56,661 shares in the company, valued at approximately $2,548,045.17. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by company insiders.

Brinker International Company Profile

Brinker International, Inc, together with its subsidiaries, engages in the ownership, development, operation, and franchising of casual dining restaurants in the United States and internationally. It operates and franchises Chili's Grill & Bar and Maggiano's Little Italy restaurant brands.