Brinker International, Inc. (EAT) Given Buy Rating at Maxim Group
Maxim Group reiterated their buy rating on shares of Brinker International, Inc. (NYSE:EAT) in a research note released on Tuesday. The brokerage currently has a $49.00 price objective on the restaurant operator’s stock.
“We reiterate our Buy rating and $49 price target on Brinker International (EAT) as we see Hurricanes Harvey and Irma leaving a measurable, though short- lived, impact on FY18 results.”,” Maxim Group’s analyst commented.
Several other research firms have also recently weighed in on EAT. Raymond James Financial, Inc. restated a market perform rating on shares of Brinker International in a research note on Monday, July 24th. ValuEngine cut Brinker International from a buy rating to a hold rating in a research note on Friday, September 1st. BMO Capital Markets set a $36.00 price target on Brinker International and gave the stock a hold rating in a research note on Saturday, August 12th. Sanford C. Bernstein restated a market perform rating and issued a $50.00 price target on shares of Brinker International in a research note on Tuesday, July 25th. Finally, Zacks Investment Research cut Brinker International from a hold rating to a sell rating in a research note on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $45.67.
Brinker International (EAT) traded up 2.68% during midday trading on Tuesday, reaching $32.95. The company had a trading volume of 168,566 shares. The company has a 50-day moving average of $33.62 and a 200-day moving average of $39.24. Brinker International has a 12-month low of $29.50 and a 12-month high of $55.84. The stock has a market capitalization of $1.60 billion, a PE ratio of 11.21 and a beta of 0.26.
Brinker International (NYSE:EAT) last announced its quarterly earnings data on Thursday, August 10th. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.05. Brinker International had a negative return on equity of 31.46% and a net margin of 4.79%. The business had revenue of $810.66 million during the quarter, compared to analysts’ expectations of $809.94 million. During the same quarter in the previous year, the business earned $1.24 earnings per share. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. On average, analysts predict that Brinker International will post $3.24 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 8th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date is Thursday, September 7th. This is a boost from Brinker International’s previous quarterly dividend of $0.34. Brinker International’s dividend payout ratio is 50.84%.
Brinker International announced that its board has approved a share repurchase plan on Thursday, August 10th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the restaurant operator to reacquire up to 14.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.
In other news, Director Michael A. George acquired 16,450 shares of Brinker International stock in a transaction that occurred on Wednesday, September 6th. The stock was bought at an average price of $30.31 per share, for a total transaction of $498,599.50. Following the completion of the transaction, the director now owns 49,952 shares in the company, valued at $1,514,045.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.76% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Bruderman Asset Management LLC bought a new stake in Brinker International during the second quarter valued at about $123,000. LS Investment Advisors LLC grew its holdings in Brinker International by 18.7% during the first quarter. LS Investment Advisors LLC now owns 4,107 shares of the restaurant operator’s stock valued at $181,000 after purchasing an additional 647 shares during the period. Kernodle & Katon Asset Management Group LLC grew its holdings in Brinker International by 0.4% during the first quarter. Kernodle & Katon Asset Management Group LLC now owns 4,864 shares of the restaurant operator’s stock valued at $214,000 after purchasing an additional 17 shares during the period. ING Groep NV bought a new stake in Brinker International during the second quarter valued at about $227,000. Finally, Segantii Capital Management Ltd bought a new stake in Brinker International during the first quarter valued at about $286,000.
Brinker International Company Profile
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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