Wedbush Comments on Brinker International, Inc.’s FY2024 Earnings (NYSE:EAT)

Brinker International, Inc. (NYSE:EAT) – Investment analysts at Wedbush increased their FY2024 earnings per share (EPS) estimates for Brinker International in a report issued on Wednesday, November 1st. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings per share of $3.68 for the year, up from their prior forecast of $3.34. Wedbush has a “Neutral” rating and a $37.00 price target on the stock. The consensus estimate for Brinker International’s current full-year earnings is $3.37 per share. Wedbush also issued estimates for Brinker International’s Q4 2024 earnings at $1.25 EPS and Q4 2025 earnings at $1.33 EPS.

EAT has been the subject of a number of other research reports. Piper Sandler cut their target price on shares of Brinker International from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, September 22nd. Morgan Stanley lifted their target price on shares of Brinker International from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday. StockNews.com upgraded shares of Brinker International from a “hold” rating to a “buy” rating in a research note on Friday. Royal Bank of Canada lifted their target price on shares of Brinker International from $38.00 to $40.00 and gave the company a “sector perform” rating in a research note on Thursday. Finally, Bank of America cut their target price on shares of Brinker International from $38.00 to $37.00 and set an “underperform” rating for the company in a research note on Thursday, August 17th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $37.60.

Brinker International Trading Up 4.2 %

NYSE EAT opened at $35.27 on Friday. The stock’s 50 day moving average is $31.75 and its two-hundred day moving average is $35.53. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 0.71 and a beta of 2.37. Brinker International has a 1-year low of $27.77 and a 1-year high of $42.12.

Brinker International (NYSE:EAT) last released its earnings results on Wednesday, November 1st. The restaurant operator reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.25. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. Brinker International had a negative return on equity of 84.94% and a net margin of 3.34%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the business earned ($0.57) earnings per share.

Institutional Trading of Brinker International

Institutional investors have recently bought and sold shares of the business. State of Wyoming acquired a new stake in Brinker International during the 2nd quarter worth $27,000. Rockefeller Capital Management L.P. acquired a new stake in Brinker International during the 4th quarter worth $31,000. Bogart Wealth LLC grew its holdings in Brinker International by 100.0% during the 3rd quarter. Bogart Wealth LLC now owns 1,000 shares of the restaurant operator’s stock worth $32,000 after acquiring an additional 500 shares during the period. Advisors Asset Management Inc. acquired a new stake in Brinker International during the 1st quarter worth $32,000. Finally, Quarry LP grew its holdings in Brinker International by 242.1% during the 2nd quarter. Quarry LP now owns 1,016 shares of the restaurant operator’s stock worth $37,000 after acquiring an additional 719 shares during the period.

About Brinker International

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.