Analysts expect Brinker International, Inc. (NYSE:EAT) to post sales of $759.19 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Brinker International’s earnings, with the highest sales estimate coming in at $771.70 million and the lowest estimate coming in at $751.83 million. Brinker International posted sales of $739.39 million during the same quarter last year, which suggests a positive year over year growth rate of 2.7%. The company is expected to announce its next earnings results on Wednesday, November 7th.
On average, analysts expect that Brinker International will report full-year sales of $3.19 billion for the current year, with estimates ranging from $3.16 billion to $3.21 billion. For the next fiscal year, analysts expect that the firm will post sales of $3.26 billion per share, with estimates ranging from $3.22 billion to $3.29 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Brinker International.
Brinker International (NYSE:EAT) last released its earnings results on Tuesday, August 14th. The restaurant operator reported $1.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.19. The firm had revenue of $817.10 million for the quarter, compared to analyst estimates of $817.93 million. Brinker International had a negative return on equity of 30.02% and a net margin of 4.24%. Brinker International’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 earnings per share.
A number of equities analysts recently weighed in on EAT shares. Barclays increased their price target on Brinker International from $46.00 to $50.00 and gave the company a “$49.71” rating in a research report on Wednesday, July 18th. TheStreet upgraded Brinker International from a “c” rating to a “b-” rating in a research report on Wednesday, May 16th. Zacks Investment Research upgraded Brinker International from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Tuesday, July 3rd. Maxim Group restated a “buy” rating and set a $55.00 price objective (up from $52.00) on shares of Brinker International in a research report on Tuesday, May 1st. Finally, Stifel Nicolaus raised their price objective on Brinker International from $38.00 to $45.00 and gave the stock a “hold” rating in a research report on Wednesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $45.33.
NYSE:EAT traded up $0.60 during mid-day trading on Tuesday, reaching $44.00. 980,542 shares of the stock were exchanged, compared to its average volume of 1,399,272. The firm has a market cap of $1.94 billion and a P/E ratio of 13.75. Brinker International has a 1-year low of $29.50 and a 1-year high of $54.14. The company has a quick ratio of 0.27, a current ratio of 0.32 and a debt-to-equity ratio of -2.24.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Friday, September 7th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, September 6th. This represents a $1.52 annualized dividend and a dividend yield of 3.45%. Brinker International’s dividend payout ratio is 47.50%.
In related news, EVP Kelli Valade sold 4,224 shares of the firm’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $49.59, for a total value of $209,468.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP David Roy Doyle sold 3,615 shares of the firm’s stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $49.86, for a total value of $180,243.90. The disclosure for this sale can be found here. 1.91% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the stock. Neuberger Berman Group LLC raised its stake in shares of Brinker International by 15.9% in the 1st quarter. Neuberger Berman Group LLC now owns 9,077 shares of the restaurant operator’s stock valued at $328,000 after acquiring an additional 1,243 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of Brinker International by 12.9% in the 1st quarter. D.A. Davidson & CO. now owns 11,759 shares of the restaurant operator’s stock valued at $424,000 after acquiring an additional 1,345 shares in the last quarter. Martingale Asset Management L P raised its stake in shares of Brinker International by 1.0% in the 2nd quarter. Martingale Asset Management L P now owns 156,960 shares of the restaurant operator’s stock valued at $7,472,000 after acquiring an additional 1,595 shares in the last quarter. Hancock Holding Co. raised its stake in shares of Brinker International by 5.3% in the 1st quarter. Hancock Holding Co. now owns 37,002 shares of the restaurant operator’s stock valued at $1,336,000 after acquiring an additional 1,848 shares in the last quarter. Finally, Foster & Motley Inc. raised its stake in shares of Brinker International by 11.9% in the 2nd quarter. Foster & Motley Inc. now owns 20,873 shares of the restaurant operator’s stock valued at $994,000 after acquiring an additional 2,217 shares in the last quarter.
About Brinker International
Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants worldwide. As of June 28, 2017, it owned, operated, or franchised 1,674 restaurants comprising 1,622 restaurants under the Chili's Grill & Bar brand name; and 52 restaurants under the Maggiano's Little Italy brand name.
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