$1.02 Billion in Sales Expected for Brinker International, Inc. (NYSE:EAT) This Quarter

Wall Street analysts predict that Brinker International, Inc. (NYSE:EATGet Rating) will post $1.02 billion in sales for the current quarter, Zacks reports. Nine analysts have issued estimates for Brinker International’s earnings. The lowest sales estimate is $1.00 billion and the highest is $1.02 billion. Brinker International posted sales of $1.01 billion during the same quarter last year, which suggests a positive year over year growth rate of 1%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Brinker International will report full year sales of $3.79 billion for the current year, with estimates ranging from $3.78 billion to $3.82 billion. For the next financial year, analysts expect that the business will post sales of $4.03 billion, with estimates ranging from $3.93 billion to $4.15 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Brinker International.

Brinker International (NYSE:EATGet Rating) last announced its 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). Brinker International had a negative return on equity of 48.95% and a net margin of 4.11%. The business had revenue of $980.40 million for the quarter, compared to analyst estimates of $978.08 million. During the same quarter in the previous year, the company earned $0.78 EPS. The business’s revenue for the quarter was up 18.3% on a year-over-year basis.

Several equities analysts have recently issued reports on the stock. Raymond James dropped their price target on shares of Brinker International from $55.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, January 26th. Wedbush lifted their price target on shares of Brinker International from $36.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, February 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Brinker International from $44.00 to $41.00 in a research note on Thursday. Citigroup started coverage on shares of Brinker International in a research note on Tuesday, April 12th. They issued a “neutral” rating and a $38.00 price target for the company. Finally, Gordon Haskett downgraded shares of Brinker International from a “buy” rating to a “hold” rating and set a $41.00 price target for the company. in a research note on Friday, January 14th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Brinker International currently has an average rating of “Hold” and an average price target of $47.68.

NYSE EAT opened at $35.53 on Friday. Brinker International has a 1 year low of $30.20 and a 1 year high of $65.67. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 10.87, a P/E/G ratio of 1.13 and a beta of 2.33. The firm’s 50 day simple moving average is $36.63 and its 200 day simple moving average is $37.97.

In other Brinker International news, COO Douglas N. Comings sold 1,000 shares of the company’s stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $42.72, for a total value of $42,720.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Wyman Roberts sold 12,500 shares of the company’s stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $40.00, for a total transaction of $500,000.00. Following the completion of the sale, the chief executive officer now directly owns 231,373 shares of the company’s stock, valued at $9,254,920. The disclosure for this sale can be found here. Insiders sold a total of 44,103 shares of company stock valued at $1,757,955 over the last ninety days. 4.21% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in EAT. Amundi Pioneer Asset Management Inc. grew its position in shares of Brinker International by 2.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 504,946 shares of the restaurant operator’s stock valued at $22,409,000 after acquiring an additional 10,023 shares during the period. Morgan Stanley lifted its stake 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 buying an additional 203,992 shares in the last quarter. Raymond James & Associates lifted its stake in shares of Brinker International by 47.4% during the 3rd quarter. Raymond James & Associates now owns 41,344 shares of the restaurant operator’s stock valued at $2,028,000 after buying an additional 13,301 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Brinker International by 7.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 4,735 shares of the restaurant operator’s stock valued at $232,000 after buying an additional 338 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Brinker International by 27.1% during the 3rd quarter. Deutsche Bank AG now owns 96,865 shares of the restaurant operator’s stock valued at $4,750,000 after buying an additional 20,680 shares in the last quarter. 99.38% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading

Get a free copy of the Zacks research report on Brinker International (EAT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Brinker International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brinker International and related companies with MarketBeat.com's FREE daily email newsletter.