Canaccord Genuity Reiterates Hold Rating for Brinker International Inc. (EAT)
Brinker International Inc. (NYSE:EAT)‘s stock had its “hold” rating reiterated by analysts at Canaccord Genuity in a report released on Thursday. They presently have a $45.00 target price on the stock. Canaccord Genuity’s price objective indicates a potential downside of 14.40% from the company’s previous close.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research raised Brinker International from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Wednesday, October 5th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $56.00 price objective on shares of Brinker International in a research note on Wednesday, September 28th. BMO Capital Markets reissued a “hold” rating and issued a $47.00 price objective on shares of Brinker International in a research note on Thursday, September 1st. Argus reissued a “hold” rating on shares of Brinker International in a research note on Thursday, August 18th. Finally, Wells Fargo & Co. reissued a “market perform” rating and issued a $50.00 price objective on shares of Brinker International in a research note on Sunday, October 23rd. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $53.27.
Shares of Brinker International (NYSE:EAT) opened at 52.57 on Thursday. Brinker International has a 12-month low of $43.30 and a 12-month high of $55.84. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 15.76 and a beta of 0.22. The firm has a 50 day moving average price of $52.17 and a 200-day moving average price of $50.03.
Brinker International (NYSE:EAT) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by $0.06. Brinker International had a negative return on equity of 68.57% and a net margin of 5.86%. The firm earned $758.50 million during the quarter, compared to the consensus estimate of $773.19 million. During the same period last year, the company earned $0.56 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts expect that Brinker International will post $3.42 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Friday, December 9th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Wednesday, December 7th. Brinker International’s dividend payout ratio (DPR) is presently 40.84%.
In other news, insider Steve Provost sold 9,728 shares of the firm’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $53.91, for a total transaction of $524,436.48. Following the sale, the insider now directly owns 13,372 shares in the company, valued at approximately $720,884.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph G. Taylor sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $51.69, for a total value of $77,535.00. Following the sale, the vice president now owns 2,000 shares in the company, valued at $103,380. The disclosure for this sale can be found here. Insiders own 1.76% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Brinker International by 11.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,036 shares of the company’s stock worth $103,000 after buying an additional 204 shares in the last quarter. Bruderman Asset Management LLC raised its position in shares of Brinker International by 82.5% in the second quarter. Bruderman Asset Management LLC now owns 2,551 shares of the company’s stock worth $116,000 after buying an additional 1,153 shares in the last quarter. LS Investment Advisors LLC raised its position in shares of Brinker International by 59.4% in the second quarter. LS Investment Advisors LLC now owns 3,402 shares of the company’s stock worth $155,000 after buying an additional 1,268 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Brinker International during the second quarter worth $173,000. Finally, Citigroup Inc. raised its position in shares of Brinker International by 400.2% in the second quarter. Citigroup Inc. now owns 4,367 shares of the company’s stock worth $198,000 after buying an additional 3,494 shares in the last quarter.
About Brinker International
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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