JPMorgan Chase & Co. reiterated their buy rating on shares of Brinker International Inc. (NYSE:EAT) in a research report released on Wednesday morning. JPMorgan Chase & Co. currently has a $56.00 price objective on the stock.
Several other equities analysts have also weighed in on EAT. RBC Capital Markets restated a sector perform rating and issued a $55.00 price target (up previously from $49.00) on shares of Brinker International in a research note on Saturday, August 13th. Sterne Agee CRT restated a buy rating and issued a $51.00 price target on shares of Brinker International in a research note on Monday, June 13th. BMO Capital Markets restated a hold rating and issued a $47.00 price target on shares of Brinker International in a research note on Thursday, September 1st. Telsey Advisory Group lifted their price target on Brinker International from $52.00 to $56.00 and gave the company an outperform rating in a research note on Thursday, July 7th. Finally, Barclays PLC lifted their price target on Brinker International from $48.00 to $55.00 and gave the company an equal weight rating in a research note on Friday, August 12th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $53.83.
Shares of Brinker International (NYSE:EAT) opened at 50.76 on Wednesday. The stock has a 50 day moving average price of $52.59 and a 200 day moving average price of $47.89. Brinker International has a 1-year low of $43.20 and a 1-year high of $55.16. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 14.84 and a beta of 0.26.
Brinker International (NYSE:EAT) last issued its quarterly earnings data on Thursday, August 11th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.01. The business earned $881.70 million during the quarter, compared to analysts’ expectations of $881.43 million. Brinker International had a negative return on equity of 114.14% and a net margin of 6.16%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 EPS. On average, equities analysts anticipate that Brinker International will post $3.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Friday, September 9th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.68%. This is a boost from Brinker International’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, September 7th. Brinker International’s dividend payout ratio is 39.42%.
In other Brinker International news, insider Steve Provost sold 11,000 shares of the company’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $54.56, for a total transaction of $600,160.00. Following the transaction, the insider now directly owns 23,100 shares in the company, valued at $1,260,336. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Krista M. Gibson sold 19,000 shares of the company’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $53.27, for a total value of $1,012,130.00. Following the transaction, the insider now owns 37,225 shares in the company, valued at $1,982,975.75. The disclosure for this sale can be found here. Company insiders own 1.76% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charter Trust Co. boosted its position in Brinker International by 2.9% in the second quarter. Charter Trust Co. now owns 7,932 shares of the company’s stock worth $361,000 after buying an additional 221 shares during the period. Commonwealth Equity Services Inc boosted its position in Brinker International by 2.1% in the first quarter. Commonwealth Equity Services Inc now owns 12,584 shares of the company’s stock worth $578,000 after buying an additional 263 shares during the period. State of Alaska Department of Revenue boosted its position in Brinker International by 7.5% in the second quarter. State of Alaska Department of Revenue now owns 6,745 shares of the company’s stock worth $307,000 after buying an additional 468 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in Brinker International by 0.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 54,850 shares of the company’s stock worth $2,497,000 after buying an additional 477 shares during the period. Finally, First Citizens Bank & Trust Co. boosted its position in Brinker International by 6.8% in the second quarter. First Citizens Bank & Trust Co. now owns 7,727 shares of the company’s stock worth $352,000 after buying an additional 490 shares during the period.
Brinker International Company Profile
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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