Wall Street analysts expect Brinker International, Inc. (NYSE:EAT) to announce $778.84 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Brinker International’s earnings, with the highest sales estimate coming in at $783.33 million and the lowest estimate coming in at $775.90 million. Brinker International posted sales of $766.40 million during the same quarter last year, which suggests a positive year-over-year growth rate of 1.6%. The company is scheduled to issue its next earnings results on Tuesday, January 29th.
On average, analysts expect that Brinker International will report full year sales of $3.19 billion for the current fiscal year. For the next financial year, analysts anticipate that the business will report sales of $3.24 billion, with estimates ranging from $3.21 billion to $3.26 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Brinker International.
Brinker International (NYSE:EAT) last posted its quarterly earnings results on Tuesday, October 30th. The restaurant operator reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.02. Brinker International had a net margin of 4.52% and a negative return on equity of 23.89%. The business had revenue of $753.80 million during the quarter, compared to analysts’ expectations of $756.40 million. During the same quarter in the prior year, the company posted $0.42 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis.
EAT has been the topic of several recent analyst reports. ValuEngine upgraded shares of Brinker International from a “hold” rating to a “buy” rating in a report on Wednesday, November 28th. Maxim Group restated a “buy” rating and issued a $55.00 price objective on shares of Brinker International in a report on Tuesday, October 30th. TheStreet lowered shares of Brinker International from a “b-” rating to a “c” rating in a report on Wednesday, August 15th. Barclays decreased their price objective on shares of Brinker International from $50.00 to $48.00 and set an “equal weight” rating on the stock in a report on Thursday, November 29th. Finally, Canaccord Genuity decreased their price objective on shares of Brinker International from $49.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, August 15th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $46.06.
Shares of EAT stock opened at $49.51 on Friday. Brinker International has a one year low of $32.03 and a one year high of $54.14. The company has a market capitalization of $1.92 billion, a PE ratio of 14.15, a P/E/G ratio of 1.50 and a beta of 0.02.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Friday, December 7th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, December 6th. This represents a $1.52 dividend on an annualized basis and a yield of 3.07%. Brinker International’s dividend payout ratio (DPR) is presently 43.43%.
In other Brinker International news, EVP Steve Provost sold 11,985 shares of the stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $51.00, for a total transaction of $611,235.00. Following the sale, the executive vice president now directly owns 27,568 shares in the company, valued at approximately $1,405,968. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Joseph G. Taylor sold 4,000 shares of the stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $50.70, for a total transaction of $202,800.00. Following the sale, the chief financial officer now owns 7,536 shares in the company, valued at $382,075.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,539 shares of company stock worth $2,692,195. 2.72% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in EAT. Principal Financial Group Inc. lifted its holdings in Brinker International by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 203,678 shares of the restaurant operator’s stock worth $7,353,000 after buying an additional 3,638 shares in the last quarter. Smith Asset Management Group LP acquired a new stake in Brinker International during the 2nd quarter worth approximately $472,000. First Trust Advisors LP lifted its holdings in Brinker International by 46.0% during the 2nd quarter. First Trust Advisors LP now owns 87,093 shares of the restaurant operator’s stock worth $4,146,000 after buying an additional 27,434 shares in the last quarter. Jennison Associates LLC acquired a new stake in Brinker International during the 2nd quarter worth approximately $1,500,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Brinker International during the 2nd quarter worth approximately $563,000.
About Brinker International
Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. As of June 27, 2018, it owned, operated, or franchised 1,686 restaurants comprising 997 company-owned restaurants and 689 franchised restaurants under the Chili's Grill & Bar and Maggiano's Little Italy brand names.
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