Brinker International Inc. (EAT) Rating Reiterated by JPMorgan Chase & Co.
Brinker International Inc. (NYSE:EAT)‘s stock had its “buy” rating reaffirmed by JPMorgan Chase & Co. in a research note issued to investors on Wednesday. They currently have a $56.00 target price on the stock. JPMorgan Chase & Co.’s price objective points to a potential upside of 7.07% from the stock’s current price.
EAT has been the topic of a number of other research reports. Canaccord Genuity started coverage on shares of Brinker International in a report on Monday, August 22nd. They issued a “hold” rating and a $56.00 price objective on the stock. TheStreet cut shares of Brinker International from a “buy” rating to a “hold” rating in a report on Thursday, June 9th. Argus reiterated a “hold” rating on shares of Brinker International in a report on Thursday, August 18th. BMO Capital Markets reiterated a “hold” rating and set a $47.00 price target on shares of Brinker International in a report on Thursday, September 1st. Finally, Topeka Capital Markets started coverage on shares of Brinker International in a report on Monday, June 6th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $53.83.
Shares of Brinker International (NYSE:EAT) opened at 52.30 on Wednesday. Brinker International has a one year low of $43.20 and a one year high of $55.16. The firm’s 50-day moving average price is $52.55 and its 200-day moving average price is $47.78. The firm has a market capitalization of $2.87 billion, a P/E ratio of 15.29 and a beta of 0.32.
Brinker International (NYSE:EAT) last announced its quarterly earnings data on Thursday, August 11th. The company reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.01. The business had revenue of $881.70 million for the quarter, compared to analysts’ expectations of $881.43 million. Brinker International had a net margin of 6.16% and a negative return on equity of 114.14%. The business’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 earnings per share. On average, equities analysts forecast that Brinker International will post $3.45 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Friday, September 9th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.60%. This is a boost from Brinker International’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, September 7th. Brinker International’s dividend payout ratio (DPR) is presently 39.42%.
In related news, insider Wyman Roberts sold 41,722 shares of the firm’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $53.00, for a total transaction of $2,211,266.00. Following the completion of the transaction, the insider now directly owns 114,746 shares of the company’s stock, valued at $6,081,538. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steve Provost sold 11,000 shares of the firm’s stock in a transaction on Wednesday, August 24th. The shares were 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 of the company’s stock, valued at $1,260,336. The disclosure for this sale can be found here. Corporate insiders own 2.27% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Bruderman Asset Management LLC boosted its position in Brinker International by 82.5% in the second quarter. Bruderman Asset Management LLC now owns 2,551 shares of the company’s stock valued at $116,000 after buying an additional 1,153 shares during the last quarter. Acrospire Investment Management LLC bought a new position in Brinker International during the first quarter valued at $129,000. LS Investment Advisors LLC boosted its position in Brinker International by 59.4% in the second quarter. LS Investment Advisors LLC now owns 3,402 shares of the company’s stock valued at $155,000 after buying an additional 1,268 shares during the last quarter. Pacer Advisors Inc. bought a new position in Brinker International during the second quarter valued at $173,000. Finally, Citigroup Inc. boosted its position in Brinker International by 400.2% in the second quarter. Citigroup Inc. now owns 4,367 shares of the company’s stock valued at $198,000 after buying an additional 3,494 shares during the last quarter.
About Brinker International
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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