Brinker International (NYSE:EAT) Updates FY24 Earnings Guidance

Brinker International (NYSE:EAT) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $3.80-4.00 for the period, compared to the consensus estimate of $3.69. The company issued revenue guidance of $4.33-4.35 billion, compared to the consensus revenue estimate of $4.34 billion. Brinker International also updated its FY 2024 guidance to 3.800-4.000 EPS.

Wall Street Analysts Forecast Growth

EAT has been the topic of a number of research reports. Jefferies Financial Group upped their price target on Brinker International from $47.00 to $48.00 and gave the stock a hold rating in a research note on Tuesday, April 16th. Wedbush lifted their price target on shares of Brinker International from $45.00 to $47.00 and gave the company a neutral rating in a research report on Friday. StockNews.com lowered shares of Brinker International from a buy rating to a hold rating in a research note on Thursday, February 1st. Morgan Stanley raised their price objective on shares of Brinker International from $36.00 to $39.00 and gave the company an underweight rating in a research note on Friday, April 12th. Finally, Gordon Haskett raised Brinker International from a hold rating to a buy rating and set a $48.00 target price on the stock in a research report on Tuesday, January 16th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $44.81.

Brinker International Price Performance

NYSE:EAT opened at $50.56 on Tuesday. The company has a market capitalization of $2.24 billion, a P/E ratio of 14.56, a P/E/G ratio of 0.79 and a beta of 2.46. The business has a fifty day simple moving average of $47.27 and a two-hundred day simple moving average of $41.82. Brinker International has a 1 year low of $28.23 and a 1 year high of $51.72.

Brinker International (NYSE:EAT) last announced its quarterly earnings data on Wednesday, January 31st. The restaurant operator reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.05. Brinker International had a negative return on equity of 113.41% and a net margin of 3.63%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.08 billion. As a group, analysts anticipate that Brinker International will post 3.71 earnings per share for the current year.

Insider Activity

In other Brinker International news, CFO Joseph G. Taylor sold 24,163 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $44.97, for a total transaction of $1,086,610.11. Following the sale, the chief financial officer now owns 56,661 shares in the company, valued at $2,548,045.17. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.50% of the company’s stock.

Brinker International Company Profile

Brinker International, Inc, together with its subsidiaries, engages in the ownership, development, operation, and franchising of casual dining restaurants in the United States and internationally. It operates and franchises Chili's Grill & Bar and Maggiano's Little Italy restaurant brands.