Brinker International, Inc. (EAT) Given Outperform Rating at CIBC
Brinker International, Inc. (NYSE:EAT)‘s stock had its “outperform” rating restated by equities researchers at CIBC in a research note issued on Friday.
Several other equities research analysts also recently commented on the stock. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating on shares of Brinker International in a research note on Friday. Royal Bank of Canada reaffirmed a “hold” rating and issued a $49.00 target price on shares of Brinker International in a research note on Thursday. Zacks Investment Research downgraded shares of Brinker International from a “hold” rating to a “sell” rating in a research note on Tuesday. Maxim Group reaffirmed a “buy” rating on shares of Brinker International in a research note on Monday, April 10th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $47.00 target price on shares of Brinker International in a research note on Thursday, April 6th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $52.80.
Shares of Brinker International (NYSE:EAT) traded up 1.34% during midday trading on Friday, hitting $44.66. 1,251,806 shares of the company’s stock traded hands. Brinker International has a 1-year low of $40.92 and a 1-year high of $55.84. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 13.83 and a beta of 0.23. The company has a 50 day moving average price of $42.68 and a 200 day moving average price of $47.45.
Brinker International (NYSE:EAT) last posted its quarterly earnings results on Wednesday, January 25th. The restaurant operator reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by $0.04. The business had revenue of $771 million for the quarter, compared to the consensus estimate of $792.60 million. Brinker International had a negative return on equity of 49.35% and a net margin of 5.49%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share. Equities analysts anticipate that Brinker International will post $3.10 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 30th. Investors of record on Friday, March 10th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.05%. The ex-dividend date was Wednesday, March 8th. Brinker International’s payout ratio is 42.24%.
In other Brinker International news, Director Harriet Edelman sold 3,218 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $42.45, for a total transaction of $136,604.10. Following the sale, the director now directly owns 22,059 shares of the company’s stock, valued at $936,404.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Valade sold 10,500 shares of the company’s stock in a transaction on Friday, February 10th. The stock was sold at an average price of $45.81, for a total transaction of $481,005.00. Following the sale, the executive vice president now directly owns 65,919 shares in the company, valued at $3,019,749.39. The disclosure for this sale can be found here. Insiders have sold 14,218 shares of company stock valued at $639,039 in the last 90 days. 1.76% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. BlackRock Fund Advisors raised its stake in Brinker International by 2.7% in the third quarter. BlackRock Fund Advisors now owns 2,029,429 shares of the restaurant operator’s stock valued at $102,344,000 after buying an additional 53,958 shares during the period. Boyar Asset Management Inc. purchased a new stake in Brinker International during the third quarter valued at about $1,879,000. Dynamic Capital Management Ltd purchased a new stake in Brinker International during the third quarter valued at about $5,145,000. BlackRock Advisors LLC raised its stake in Brinker International by 0.3% in the third quarter. BlackRock Advisors LLC now owns 32,052 shares of the restaurant operator’s stock valued at $1,616,000 after buying an additional 82 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in Brinker International during the fourth quarter valued at about $10,618,000.
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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