Brinker International (NYSE:EAT) Releases FY22 Earnings Guidance

Brinker International (NYSE:EATGet Rating) issued an update on its FY22 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $3.05-$3.30 for the period, compared to the Thomson Reuters consensus estimate of $3.48. The company issued revenue guidance of $3.75-$3.85 billion, compared to the consensus revenue estimate of $3.80 billion.

Several brokerages have weighed in on EAT. Citigroup started coverage on shares of Brinker International in a report on Tuesday, April 12th. They set a neutral rating and a $38.00 price target on the stock. StockNews.com began coverage on Brinker International in a research note on Thursday, March 31st. They issued a hold rating for the company. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Brinker International from $47.00 to $44.00 and set a hold rating on the stock in a report on Thursday, February 3rd. Gordon Haskett cut shares of Brinker International from a buy rating to a hold rating and set a $41.00 target price for the company. in a research note on Friday, January 14th. Finally, Jefferies Financial Group cut their price objective on Brinker International from $63.00 to $60.00 and set a buy rating for the company in a research report on Thursday, February 3rd. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $48.84.

Shares of EAT stock opened at $39.46 on Wednesday. The company has a market capitalization of $1.76 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.04 and a beta of 2.33. The company’s 50-day simple moving average is $37.08 and its two-hundred day simple moving average is $38.19. Brinker International has a one year low of $30.20 and a one year high of $66.09.

Brinker International (NYSE:EATGet Rating) last issued its earnings results on Wednesday, February 2nd. The restaurant operator reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.21. The business had revenue of $925.80 million during the quarter, compared to analyst estimates of $924.24 million. Brinker International had a negative return on equity of 48.95% and a net margin of 4.11%. Brinker International’s revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 EPS. As a group, analysts expect that Brinker International will post 3.49 earnings per share for the current fiscal year.

In related news, COO Douglas N. Comings sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $42.72, for a total transaction of $42,720.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 transaction of $214,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 44,103 shares of company stock worth $1,757,955 in the last three months. Insiders own 4.21% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Morgan Stanley lifted its holdings in shares of Brinker International by 107.8% during the 2nd quarter. Morgan Stanley now owns 393,270 shares of the restaurant operator’s stock valued at $24,322,000 after purchasing an additional 203,992 shares during the last quarter. LPL Financial LLC raised its stake in Brinker International by 135.4% in the third quarter. LPL Financial LLC now owns 12,441 shares of the restaurant operator’s stock valued at $610,000 after buying an additional 7,157 shares during the last quarter. UBS Group AG boosted its holdings in Brinker International by 25.3% in the third quarter. UBS Group AG now owns 25,054 shares of the restaurant operator’s stock worth $1,228,000 after acquiring an additional 5,063 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Brinker International during the third quarter worth about $225,000. Finally, Invesco Ltd. grew its stake in shares of Brinker International by 35.2% during the fourth quarter. Invesco Ltd. now owns 163,287 shares of the restaurant operator’s stock worth $5,974,000 after acquiring an additional 42,514 shares during the last quarter. 99.38% of the stock is owned by institutional investors.

Brinker International Company Profile (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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Earnings History and Estimates for Brinker International (NYSE:EAT)

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