Brinker International, Inc. (NYSE:EAT) Expected to Announce Earnings of $1.46 Per Share

Brokerages forecast that Brinker International, Inc. (NYSE:EATGet Rating) will report earnings per share of $1.46 for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Brinker International’s earnings, with estimates ranging from $1.26 to $1.64. Brinker International posted earnings of $1.68 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 13.1%. The business is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Brinker International will report full year earnings of $3.49 per share for the current fiscal year, with EPS estimates ranging from $3.30 to $3.69. For the next fiscal year, analysts forecast that the business will post earnings of $4.41 per share, with EPS estimates ranging from $3.90 to $5.05. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Brinker International.

Brinker International (NYSE:EATGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The restaurant operator reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.11). The company had revenue of $980.40 million during the quarter, compared to analysts’ expectations of $978.08 million. Brinker International had a net margin of 4.11% and a negative return on equity of 48.95%. Brinker International’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter last year, the company earned $0.78 earnings per share.

EAT has been the subject of several analyst reports. Royal Bank of Canada increased their price objective on Brinker International from $38.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 3rd. The Goldman Sachs Group decreased their price target on Brinker International from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, January 26th. Citigroup started coverage on Brinker International in a research note on Tuesday, April 12th. They set a “neutral” rating and a $38.00 price target on the stock. Wedbush upped their price target on Brinker International from $36.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, February 3rd. Finally, StockNews.com started coverage on Brinker International in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Brinker International presently has an average rating of “Hold” and a consensus price target of $48.32.

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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Wyman Roberts sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, February 8th. The stock was sold at an average price of $40.00, for a total value of $500,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,103 shares of company stock worth $1,757,955. Corporate insiders own 4.21% of the company’s stock.

A number of large investors have recently made changes to their positions in EAT. Nordea Investment Management AB lifted its position in Brinker International by 55.0% in 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 purchasing an additional 680,075 shares during the period. Norges Bank acquired a new stake in shares of Brinker International during the 4th quarter valued at approximately $22,115,000. Kettle Hill Capital Management LLC acquired a new stake in shares of Brinker International during the 4th quarter valued at approximately $14,261,000. Primecap Management Co. CA lifted its position in shares of Brinker International by 91.5% during the 4th quarter. Primecap Management Co. CA now owns 738,865 shares of the restaurant operator’s stock valued at $27,035,000 after acquiring an additional 353,132 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Brinker International by 130.0% during the 4th quarter. Renaissance Technologies LLC now owns 492,800 shares of the restaurant operator’s stock valued at $18,032,000 after acquiring an additional 278,500 shares during the period. Hedge funds and other institutional investors own 99.38% of the company’s stock.

Shares of Brinker International stock opened at $34.65 on Thursday. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 1.11 and a beta of 2.33. Brinker International has a fifty-two week low of $30.20 and a fifty-two week high of $65.89. The stock has a 50 day moving average of $36.94 and a 200 day moving average of $38.16.

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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