Brinker International, Inc. (EAT) Price Target Cut to $37.00 by Analysts at Telsey Advisory Group
Brinker International, Inc. (NYSE:EAT) had its target price cut by Telsey Advisory Group from $40.00 to $37.00 in a research note released on Tuesday morning. They currently have a market perform rating on the restaurant operator’s stock.
Other analysts have also issued reports about the company. Raymond James Financial, Inc. reissued a market perform rating on shares of Brinker International in a research note on Monday, July 24th. Barclays PLC decreased their price target on Brinker International from $47.00 to $44.00 and set an equal weight rating on the stock in a research note on Wednesday, July 19th. Maxim Group reissued a buy rating and issued a $54.00 price target on shares of Brinker International in a research note on Thursday, June 15th. BMO Capital Markets raised Brinker International from an underperform rating to a market perform rating and set a $40.00 price target on the stock in a research note on Thursday, June 22nd. Finally, Zacks Investment Research raised Brinker International from a sell rating to a hold rating in a research note on Monday, September 4th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $45.42.
Brinker International (NYSE:EAT) opened at 32.01 on Tuesday. Brinker International has a 12 month low of $29.50 and a 12 month high of $55.84. The firm has a market cap of $1.55 billion, a PE ratio of 10.89 and a beta of 0.26. The stock’s 50 day moving average is $33.02 and its 200 day moving average is $38.81.
Brinker International (NYSE:EAT) last issued its quarterly earnings results on Thursday, August 10th. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.05. Brinker International had a negative return on equity of 31.46% and a net margin of 4.79%. The firm had revenue of $810.66 million for the quarter, compared to analyst estimates of $809.94 million. During the same period last year, the company earned $1.24 EPS. The firm’s quarterly revenue was down 8.1% on a year-over-year basis. On average, equities analysts forecast that Brinker International will post $3.24 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 8th will be issued a dividend of $0.38 per share. This is an increase from Brinker International’s previous quarterly dividend of $0.34. This represents a $1.52 annualized dividend and a dividend yield of 4.75%. The ex-dividend date is Thursday, September 7th. Brinker International’s dividend payout ratio (DPR) is presently 50.84%.
Brinker International announced that its Board of Directors has approved a stock repurchase plan on Thursday, August 10th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to purchase up to 14.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
In related news, Director Michael A. George bought 16,450 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were acquired at an average cost of $30.31 per share, for a total transaction of $498,599.50. Following the acquisition, the director now owns 49,952 shares in the company, valued at approximately $1,514,045.12. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.76% of the company’s stock.
Several large investors have recently made changes to their positions in EAT. Oregon Public Employees Retirement Fund raised its holdings in shares of Brinker International by 1.0% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 19,564 shares of the restaurant operator’s stock valued at $860,000 after buying an additional 200 shares during the period. Great West Life Assurance Co. Can raised its holdings in shares of Brinker International by 3.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 30,562 shares of the restaurant operator’s stock valued at $1,342,000 after buying an additional 949 shares during the period. US Bancorp DE raised its holdings in shares of Brinker International by 21.1% during the 1st quarter. US Bancorp DE now owns 20,765 shares of the restaurant operator’s stock valued at $913,000 after buying an additional 3,615 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Brinker International by 6.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,160,945 shares of the restaurant operator’s stock valued at $51,035,000 after buying an additional 73,715 shares during the period. Finally, Comerica Bank raised its holdings in shares of Brinker International by 40.0% during the 1st quarter. Comerica Bank now owns 41,219 shares of the restaurant operator’s stock valued at $1,840,000 after buying an additional 11,769 shares during the period.
About Brinker International
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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