Brinker International (NYSE:EAT) updated its FY19 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.75-3.95 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.78. Brinker International also updated its guidance to EPS.
Several brokerages have commented on EAT. Barclays dropped their price target on Brinker International from $50.00 to $48.00 and set an equal weight rating on the stock in a research report on Thursday, November 29th. ValuEngine upgraded Brinker International from a hold rating to a buy rating in a research report on Wednesday, November 28th. Telsey Advisory Group restated a market perform rating and set a $53.00 price objective (up from $49.00) on shares of Brinker International in a research report on Wednesday, January 9th. Zacks Investment Research cut Brinker International from a hold rating to a sell rating in a research report on Thursday, January 10th. Finally, Raymond James upgraded Brinker International from a market perform rating to an outperform rating in a research report on Tuesday, January 8th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $46.40.
Shares of EAT opened at $44.77 on Thursday. Brinker International has a 12-month low of $32.03 and a 12-month high of $54.14. The firm has a market cap of $1.66 billion, a PE ratio of 12.79, a PEG ratio of 1.29 and a beta of 0.17.
Brinker International (NYSE:EAT) last issued its quarterly earnings results on Tuesday, January 29th. The restaurant operator reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. Brinker International had a negative return on equity of 20.64% and a net margin of 4.70%. The business had revenue of $790.70 million for the quarter, compared to analyst estimates of $779.19 million. During the same quarter in the prior year, the firm posted $0.87 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. Analysts forecast that Brinker International will post 3.85 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 8th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Thursday, March 7th. Brinker International’s dividend payout ratio (DPR) is presently 43.43%.
In other Brinker International news, EVP Steve Provost sold 11,985 shares of the stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $51.00, for a total value of $611,235.00. Following the transaction, the executive vice president now owns 27,568 shares of the company’s stock, valued at $1,405,968. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelly C. Baltes bought 800 shares of the business’s stock in a transaction on Wednesday, January 30th. The stock was bought at an average cost of $41.75 per share, for a total transaction of $33,400.00. Following the purchase, the executive vice president now directly owns 800 shares of the company’s stock, valued at approximately $33,400. The disclosure for this purchase can be found here. Corporate insiders own 2.72% of the company’s stock.
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About Brinker International
Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. As of June 27, 2018, it owned, operated, or franchised 1,686 restaurants comprising 997 company-owned restaurants and 689 franchised restaurants under the Chili's Grill & Bar and Maggiano's Little Italy brand names.
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