Brinker International Inc. (NYSE:EAT) – KeyCorp upped their FY2017 earnings estimates for Brinker International in a research report issued on Wednesday. KeyCorp analyst C. O’cull now forecasts that the brokerage will post earnings of $3.48 per share for the year, up from their prior forecast of $3.45.
Brinker International (NYSE:EAT) last posted its quarterly earnings data on Thursday, August 11th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.01. Brinker International had a negative return on equity of 114.14% and a net margin of 6.16%. The company had revenue of $881.70 million for the quarter, compared to analysts’ expectations of $881.43 million. During the same period in the previous year, the firm posted $0.94 EPS. Brinker International’s revenue was up 15.4% compared to the same quarter last year.
A number of other equities research analysts have also recently commented on EAT. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $52.00 target price on shares of Brinker International in a report on Monday, June 6th. Topeka Capital Markets initiated coverage on shares of Brinker International in a report on Monday, June 6th. They issued an “outperform” rating for the company. Maxim Group reaffirmed a “buy” rating and issued a $55.00 target price (down from $58.00) on shares of Brinker International in a report on Tuesday, June 7th. Royal Bank Of Canada reissued a “hold” rating and set a $49.00 price target on shares of Brinker International in a report on Tuesday, June 7th. Finally, BTIG Research reissued a “neutral” rating on shares of Brinker International in a report on Thursday, June 9th. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have given a buy rating to the stock. Brinker International has a consensus rating of “Hold” and an average target price of $53.83.
Brinker International (NYSE:EAT) traded up 0.48% during midday trading on Friday, reaching $50.43. The company had a trading volume of 1,116,715 shares. The firm’s 50 day moving average is $52.69 and its 200 day moving average is $47.84. Brinker International has a 1-year low of $43.20 and a 1-year high of $55.16. The stock has a market capitalization of $2.77 billion, a PE ratio of 14.75 and a beta of 0.32.
The business 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. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.36 dividend on an annualized basis and a yield of 2.70%. This is an increase from Brinker International’s previous quarterly dividend of $0.32. Brinker International’s dividend payout ratio (DPR) is currently 39.42%.
In other news, VP Joseph G. Taylor sold 672 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $53.44, for a total value of $35,911.68. Following the transaction, the vice president now owns 1,000 shares of the company’s stock, valued at approximately $53,440. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Krista M. Gibson sold 19,000 shares of the firm’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $53.27, for a total transaction of $1,012,130.00. Following the completion of the transaction, the insider now directly owns 37,225 shares in the company, valued at approximately $1,982,975.75. The disclosure for this sale can be found here. Company insiders own 2.27% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. State Street Corp increased its position in shares of Brinker International by 4.1% in the first quarter. State Street Corp now owns 1,711,631 shares of the company’s stock worth $78,653,000 after buying an additional 67,579 shares in the last quarter. Menta Capital LLC acquired a new position in shares of Brinker International during the first quarter worth approximately $312,000. Acrospire Investment Management LLC acquired a new position in shares of Brinker International during the first quarter worth approximately $129,000. JPMorgan Chase & Co. increased its position in shares of Brinker International by 19.9% in the first quarter. JPMorgan Chase & Co. now owns 6,023,056 shares of the company’s stock worth $276,759,000 after buying an additional 1,001,600 shares in the last quarter. Finally, BlackRock Japan Co. Ltd acquired a new position in shares of Brinker International during the first quarter worth approximately $545,000.
Brinker International Company Profile
Brinker International, Inc (Brinker) owns, develops, operates and franchises the Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy (Maggiano’s) restaurant brands. At September 24, 2014, the Company owned, operated or franchised 1,622 restaurants in the United States and 29 countries and two territories outside of the United States.
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