Analysts Issue Forecasts for Brinker International, Inc.’s Q2 2024 Earnings (NYSE:EAT)

Brinker International, Inc. (NYSE:EAT) – Zacks Research boosted their Q2 2024 EPS estimates for shares of Brinker International in a research report issued on Wednesday, August 30th. Zacks Research analyst H. Ray now forecasts that the restaurant operator will post earnings per share of $0.83 for the quarter, up from their previous estimate of $0.79. The consensus estimate for Brinker International’s current full-year earnings is $3.34 per share. Zacks Research also issued estimates for Brinker International’s Q3 2024 earnings at $1.20 EPS, FY2024 earnings at $3.24 EPS, Q3 2025 earnings at $1.33 EPS, Q4 2025 earnings at $1.26 EPS and FY2025 earnings at $3.74 EPS.

EAT has been the topic of several other research reports. Raymond James raised their price target on shares of Brinker International from $42.50 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 18th. 51job reissued a “reiterates” rating on shares of Brinker International in a research report on Thursday, May 4th. Citigroup cut their target price on shares of Brinker International from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, August 17th. Barclays raised their price target on shares of Brinker International from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Thursday, August 17th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Brinker International from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, August 17th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $37.93.

Brinker International Price Performance

EAT stock opened at $32.73 on Thursday. The company has a market capitalization of $1.46 billion, a PE ratio of 14.61, a P/E/G ratio of 1.21 and a beta of 2.34. Brinker International has a 12 month low of $23.66 and a 12 month high of $42.12. The firm’s 50-day moving average is $36.73 and its 200 day moving average is $37.48.

Brinker International (NYSE:EAT) last posted its quarterly earnings results on Wednesday, August 16th. The restaurant operator reported $1.39 EPS for the quarter, topping the consensus estimate of $1.30 by $0.09. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Brinker International had a net margin of 2.48% and a negative return on equity of 55.47%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.15 EPS.

Institutional Investors Weigh In On Brinker International

Several institutional investors have recently made changes to their positions in EAT. Franklin Resources Inc. boosted its position in shares of Brinker International by 30.1% during the 4th quarter. Franklin Resources Inc. now owns 4,069,331 shares of the restaurant operator’s stock worth $129,852,000 after purchasing an additional 940,888 shares in the last quarter. Alyeska Investment Group L.P. raised its stake in Brinker International by 2,694.9% in the 1st quarter. Alyeska Investment Group L.P. now owns 761,011 shares of the restaurant operator’s stock valued at $29,040,000 after purchasing an additional 733,782 shares during the last quarter. Junto Capital Management LP acquired a new position in Brinker International in the 2nd quarter valued at about $24,426,000. Balyasny Asset Management L.P. raised its stake in Brinker International by 86.0% in the 1st quarter. Balyasny Asset Management L.P. now owns 1,389,928 shares of the restaurant operator’s stock valued at $52,817,000 after purchasing an additional 642,666 shares during the last quarter. Finally, Holocene Advisors LP raised its stake in Brinker International by 32.1% in the 2nd quarter. Holocene Advisors LP now owns 2,451,624 shares of the restaurant operator’s stock valued at $89,729,000 after purchasing an additional 595,818 shares during the last quarter.

Brinker International Company Profile

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.