Maxim Group Reaffirms Buy Rating for Brinker International (NYSE:EAT)
Maxim Group reiterated their buy rating on shares of Brinker International (NYSE:EAT) in a research note published on Friday, AnalystRatings.com reports. Maxim Group currently has a $58.00 price objective on the restaurant operator’s stock.
“We maintain our Buy rating and $58 price target on Brinker International (EAT) following yesterday’s Investor Day conference at the company’s headquarters in Coppell, TX.”,” the firm’s analyst wrote.
A number of other analysts have also recently weighed in on EAT. Zacks Investment Research cut shares of Brinker International from a buy rating to a hold rating in a research note on Friday, May 3rd. Evercore ISI reaffirmed a hold rating and set a $40.00 target price on shares of Brinker International in a research note on Tuesday, August 13th. Raymond James reaffirmed an outperform rating and set a $47.00 target price (down previously from $50.00) on shares of Brinker International in a research note on Wednesday, August 14th. They noted that the move was a valuation call. KeyCorp initiated coverage on shares of Brinker International in a research note on Tuesday, July 23rd. They set a sector weight rating and a $45.00 target price on the stock. Finally, OTR Global cut shares of Brinker International to a positive rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. Brinker International presently has an average rating of Hold and an average price target of $43.81.
Brinker International (NYSE:EAT) last posted its earnings results on Tuesday, August 13th. The restaurant operator reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. The firm had revenue of $834.10 million for the quarter, compared to analysts’ expectations of $834.69 million. Brinker International had a net margin of 4.81% and a negative return on equity of 18.81%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.19 earnings per share. As a group, analysts expect that Brinker International will post 4.13 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.83%. Brinker International’s dividend payout ratio (DPR) is presently 38.68%.
Large investors have recently modified their holdings of the company. Strategy Asset Managers LLC acquired a new position in shares of Brinker International during the first quarter worth $79,000. Quantamental Technologies LLC acquired a new position in shares of Brinker International during the second quarter worth $173,000. Janney Montgomery Scott LLC acquired a new position in shares of Brinker International during the second quarter worth $219,000. Nomura Holdings Inc. acquired a new position in shares of Brinker International during the second quarter worth $234,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of Brinker International during the second quarter worth $252,000.
Brinker International Company Profile
Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. As of June 27, 2018, it owned, operated, or franchised 1,686 restaurants comprising 997 company-owned restaurants and 689 franchised restaurants under the Chili's Grill & Bar and Maggiano's Little Italy brand names.
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