Brinker International, Inc. (EAT) Given “Hold” Rating at Canaccord Genuity
Canaccord Genuity reaffirmed their hold rating on shares of Brinker International, Inc. (NYSE:EAT) in a research note issued to investors on Sunday. The brokerage currently has a $40.00 price target on the restaurant operator’s stock.
EAT has been the subject of a number of other reports. Maxim Group cut their price objective on Brinker International from $54.00 to $49.00 and set a buy rating for the company in a report on Thursday, August 3rd. ValuEngine upgraded Brinker International from a hold rating to a buy rating in a report on Thursday, July 27th. Barclays PLC reiterated an equal weight rating and issued a $47.00 price objective on shares of Brinker International in a report on Tuesday, July 4th. Piper Jaffray Companies reiterated a hold rating on shares of Brinker International in a report on Friday, August 11th. Finally, BMO Capital Markets set a $36.00 price objective on Brinker International and gave the stock a hold rating in a report on Saturday, August 12th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $43.50.
Shares of Brinker International (NYSE:EAT) opened at 30.47 on Friday. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 10.36 and a beta of 0.26. Brinker International has a 12-month low of $29.50 and a 12-month high of $55.84. The stock’s 50 day moving average price is $32.08 and its 200 day moving average price is $38.05.
Brinker International (NYSE:EAT) last announced its earnings results on Thursday, August 10th. The restaurant operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.05. The business had revenue of $810.66 million for the quarter, compared to analyst estimates of $809.94 million. Brinker International had a negative return on equity of 31.46% and a net margin of 4.79%. The company’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 EPS. Equities research analysts expect that Brinker International will post $3.23 earnings per share for the current year.
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Brinker International declared that its board has authorized a share buyback plan on Thursday, August 10th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the restaurant operator to reacquire up to 14.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Friday, September 8th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date was Thursday, September 7th. This is a positive change from Brinker International’s previous quarterly dividend of $0.34. Brinker International’s dividend payout ratio (DPR) is 50.84%.
In related news, Director Michael A. George acquired 16,450 shares of Brinker International stock in a transaction that occurred on Wednesday, September 6th. The stock was bought at an average price of $30.31 per share, with a total value of $498,599.50. Following the transaction, the director now directly owns 49,952 shares in the company, valued at $1,514,045.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.91% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Airain ltd bought a new stake in shares of Brinker International in the 2nd quarter worth $2,031,000. UBS Asset Management Americas Inc. increased its holdings in shares of Brinker International by 14.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 41,808 shares of the restaurant operator’s stock worth $1,838,000 after purchasing an additional 5,350 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Brinker International by 87.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 109,883 shares of the restaurant operator’s stock worth $4,187,000 after purchasing an additional 51,313 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Brinker International by 8.1% in the 1st quarter. AQR Capital Management LLC now owns 818,007 shares of the restaurant operator’s stock worth $35,960,000 after purchasing an additional 61,390 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Brinker International by 10,393.8% in the 1st quarter. BlackRock Inc. now owns 3,975,272 shares of the restaurant operator’s stock worth $174,753,000 after purchasing an additional 3,937,390 shares in the last quarter.
Brinker International Company Profile
Brinker International, Inc is engaged in the ownership, operation, development, and franchising of the Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy (Maggiano’s) restaurant brands. The Company’s Chili’s operates Bar & Grill category of casual dining. Chili’s menu features authentic Fresh Mex and Fresh Tex cuisine, including signature items, such as Baby Back Ribs smoked in-house, Hand-Crafted Burgers served with house-made garlic dill pickles, Mix and Match Fajitas, Tableside Guacamole and house-made Chips and Salsa.
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