Brinker International, Inc. (NYSE:EAT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Brinker International, Inc. (NYSE:EAT – Get Rating) have received an average recommendation of “Hold” from the twenty brokerages that are currently covering the firm, MarketBeat.com reports. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $48.84.

A number of equities research analysts have recently commented on EAT shares. Barclays reiterated an “equal weight” rating and set a $44.00 price objective (up previously from $41.00) on shares of Brinker International in a research report on Thursday, February 3rd. Jefferies Financial Group lowered their target price on Brinker International from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, February 3rd. Stephens raised their target price on Brinker International from $45.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, February 3rd. The Goldman Sachs Group decreased their target price on Brinker International from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, January 26th. Finally, Raymond James cut their price target on Brinker International from $55.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, January 26th.

NYSE EAT opened at $36.33 on Monday. Brinker International has a 12 month low of $30.20 and a 12 month high of $71.78. The firm has a market capitalization of $1.62 billion, a PE ratio of 11.39, a P/E/G ratio of 1.04 and a beta of 2.47. The company’s 50 day simple moving average is $37.15 and its 200 day simple moving average is $38.24.

Brinker International (NYSE:EAT – Get Rating) last announced its earnings results on Wednesday, February 2nd. The restaurant operator reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.21. Brinker International had a negative return on equity of 48.95% and a net margin of 4.11%. The business had revenue of $925.80 million during the quarter, compared to analysts’ expectations of $924.24 million. During the same quarter last year, the business posted $0.35 earnings per share. The company’s quarterly revenue was up 21.7% on a year-over-year basis. Analysts forecast that Brinker International will post 3.49 EPS for the current year.

In other Brinker International news, CEO Wyman Roberts sold 13,103 shares of the stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $38.20, for a total value of $500,534.60. Following the completion of the transaction, the chief executive officer now directly owns 243,873 shares in the company, valued at $9,315,948.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Joseph G. Taylor sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 10th. The stock was sold at an average price of $42.94, for a total value of $214,700.00. The disclosure for this sale can be found here. Insiders sold 44,103 shares of company stock worth $1,757,955 over the last ninety days. 4.21% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EAT. Allianz Asset Management GmbH acquired a new position in shares of Brinker International in the 3rd quarter worth approximately $1,782,000. Easterly Investment Partners LLC acquired a new position in Brinker International in the third quarter valued at $2,126,000. Nordea Investment Management AB boosted its position in Brinker International by 55.0% during the fourth quarter. Nordea Investment Management AB now owns 1,917,224 shares of the restaurant operator’s stock valued at $70,631,000 after acquiring an additional 680,075 shares during the last quarter. Marshall Wace LLP boosted its position in Brinker International by 56.9% during the third quarter. Marshall Wace LLP now owns 108,925 shares of the restaurant operator’s stock valued at $5,343,000 after acquiring an additional 39,522 shares during the last quarter. Finally, Primecap Management Co. CA grew its holdings in Brinker International by 9.8% during the 3rd quarter. Primecap Management Co. CA now owns 385,733 shares of the restaurant operator’s stock worth $18,920,000 after acquiring an additional 34,533 shares during the period. Hedge funds and other institutional investors own 99.38% of the company’s stock.

About Brinker International (Get Rating)

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. The company operates in two segments, Chili's and Maggiano's. As of June 30, 2021, it owned, operated, or franchised 1,648 restaurants comprising 1,594 restaurants under the Chili's Grill & Bar name and 54 restaurants under the Maggiano's Little Italy brand name.

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