Brinker International (NYSE:EAT) Releases FY 2024 Earnings Guidance

Brinker International (NYSE:EAT) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 3.800-4.000 for the period, compared to the consensus estimate of 3.690. The company issued revenue guidance of $4.3 billion-$4.4 billion, compared to the consensus revenue estimate of $4.3 billion. Brinker International also updated its FY24 guidance to $3.80-4.00 EPS.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Brinker International from $36.00 to $39.00 and gave the stock an underweight rating in a research note on Friday, April 12th. JPMorgan Chase & Co. lifted their price objective on shares of Brinker International from $44.00 to $48.00 and gave the company an overweight rating in a research note on Tuesday, March 19th. Barclays boosted their price target on Brinker International from $36.00 to $39.00 and gave the company an equal weight rating in a research report on Wednesday, January 3rd. StockNews.com downgraded Brinker International from a buy rating to a hold rating in a research note on Thursday, February 1st. Finally, BMO Capital Markets lifted their target price on Brinker International from $52.00 to $55.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $44.81.

Brinker International Trading Up 9.1 %

Shares of EAT traded up $4.54 during midday trading on Tuesday, reaching $54.20. The stock had a trading volume of 2,652,259 shares, compared to its average volume of 1,308,061. The firm has a 50 day simple moving average of $47.27 and a 200-day simple moving average of $41.82. Brinker International has a one year low of $28.23 and a one year high of $54.68. The firm has a market cap of $2.40 billion, a PE ratio of 15.71, a P/E/G ratio of 0.79 and a beta of 2.46.

Brinker International (NYSE:EAT) last posted its earnings results on Wednesday, January 31st. The restaurant operator reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.05. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Brinker International had a net margin of 3.63% and a negative return on equity of 113.41%. As a group, research analysts forecast that Brinker International will post 3.71 EPS for the current fiscal year.

Insider Transactions at Brinker International

In related news, CFO Joseph G. Taylor sold 24,163 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $44.97, for a total value of $1,086,610.11. Following the sale, the chief financial officer now directly owns 56,661 shares of the company’s stock, valued at $2,548,045.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.

About Brinker International

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.