Brinker International Inc. (EAT) Forecasted to Post FY2017 Earnings of $3.48 Per Share
Brinker International Inc. (NYSE:EAT) – Stock analysts at KeyCorp upped their FY2017 earnings estimates for shares of Brinker International in a research report issued to clients and investors on Wednesday. KeyCorp analyst C. O’cull now anticipates that the firm will earn $3.48 per share for the year, up from their previous estimate of $3.45.
Brinker International (NYSE:EAT) last released its quarterly earnings data on Thursday, August 11th. The company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $881.70 million for the quarter, compared to analysts’ expectations of $881.43 million. During the same period in the prior year, the firm posted $0.94 earnings per share. The firm’s quarterly revenue was up 15.4% on a year-over-year basis.
A number of other research analysts have also recently issued reports on the stock. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $55.00 target price (up from $49.00) on shares of Brinker International in a report on Saturday, August 13th. Sterne Agee CRT reaffirmed a “buy” rating and issued a $51.00 target price on shares of Brinker International in a report on Monday, June 13th. BMO Capital Markets reaffirmed a “hold” rating and issued a $47.00 target price on shares of Brinker International in a report on Thursday, September 1st. Telsey Advisory Group increased their target price on shares of Brinker International from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, July 7th. Finally, Barclays PLC increased their target price on shares of Brinker International from $48.00 to $55.00 and gave the company an “equal weight” rating in a report on Friday, August 12th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $53.83.
Brinker International (NYSE:EAT) opened at 50.43 on Friday. Brinker International has a 12-month low of $43.20 and a 12-month high of $55.16. The company has a 50-day moving average price of $52.69 and a 200-day moving average price of $47.84. The firm has a market capitalization of $2.77 billion, a PE ratio of 14.75 and a beta of 0.32.
Several large investors have recently added to or reduced their stakes in the company. Mason Street Advisors LLC bought a new stake in Brinker International during the second quarter valued at $1,157,000. Schwab Charles Investment Management Inc. raised its position in Brinker International by 35.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 272,426 shares of the company’s stock valued at $12,404,000 after buying an additional 71,604 shares during the period. Stifel Financial Corp raised its position in Brinker International by 4.8% in the second quarter. Stifel Financial Corp now owns 39,007 shares of the company’s stock valued at $1,776,000 after buying an additional 1,778 shares during the period. Arvest Bank Trust Division raised its position in Brinker International by 0.6% in the second quarter. Arvest Bank Trust Division now owns 199,601 shares of the company’s stock valued at $9,088,000 after buying an additional 1,103 shares during the period. Finally, Amalgamated Bank raised its position in Brinker International by 35.8% in the second quarter. Amalgamated Bank now owns 9,690 shares of the company’s stock valued at $511,000 after buying an additional 2,556 shares during the period.
In other news, VP Joseph G. Taylor sold 672 shares of the business’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $53.44, for a total value of $35,911.68. Following the completion of the sale, the vice president now owns 1,000 shares of the company’s stock, valued at approximately $53,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Krista M. Gibson sold 19,000 shares of the business’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $53.27, for a total transaction of $1,012,130.00. Following the completion of the sale, the insider now directly owns 37,225 shares of the company’s stock, valued at approximately $1,982,975.75. The disclosure for this sale can be found here. 2.27% of the stock is currently owned by insiders.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Friday, September 9th were given a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.36 annualized dividend and a dividend yield of 2.70%. This is an increase from Brinker International’s previous quarterly dividend of $0.32. Brinker International’s payout ratio is presently 39.42%.
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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