Brinker International, Inc. (NYSE:EAT) had its target price reduced by Barclays PLC from $41.00 to $38.00 in a report published on Wednesday. Barclays PLC currently has an equal weight rating on the restaurant operator’s stock.
EAT has been the topic of a number of other reports. ValuEngine upgraded shares of Brinker International from a hold rating to a buy rating in a research note on Thursday, July 27th. Telsey Advisory Group reduced their price objective on shares of Brinker International from $49.00 to $40.00 and set a market perform rating on the stock in a research note on Monday, July 17th. Maxim Group reiterated a buy rating and set a $49.00 price objective on shares of Brinker International in a research note on Tuesday, September 12th. Royal Bank Of Canada reiterated a sector perform rating and set a $40.00 price objective (down from $49.00) on shares of Brinker International in a research note on Wednesday, August 9th. Finally, Zacks Investment Research downgraded shares of Brinker International from a hold rating to a strong sell rating in a research note on Friday, July 21st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $41.00.
Shares of Brinker International (EAT) traded down 1.19% during midday trading on Wednesday, reaching $32.46. 397,655 shares of the company traded hands. Brinker International has a 12 month low of $29.50 and a 12 month high of $55.84. The company has a 50 day moving average of $31.77 and a 200 day moving average of $37.25. The firm has a market capitalization of $1.57 billion, a P/E ratio of 11.04 and a beta of 0.26.
Brinker International (NYSE:EAT) last posted its quarterly earnings data on Thursday, August 10th. The restaurant operator reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.05. Brinker International had a net margin of 4.79% and a negative return on equity of 31.46%. The firm had revenue of $810.66 million for the quarter, compared to the consensus estimate of $809.94 million. During the same period in the prior year, the firm posted $1.24 EPS. The firm’s revenue was down 8.1% compared to the same quarter last year. On average, equities research analysts predict that Brinker International will post $3.23 earnings per share for the current fiscal year.
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Brinker International announced that its board has authorized a share buyback program on Thursday, August 10th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the restaurant operator to buy up to 14.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Friday, September 8th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend was Thursday, September 7th. This is a boost from Brinker International’s previous quarterly dividend of $0.34. Brinker International’s dividend payout ratio (DPR) is 50.84%.
In other news, Director Michael A. George acquired 16,450 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were acquired at an average price of $30.31 per share, with a total value of $498,599.50. Following the acquisition, 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 SEC, which can be accessed through the SEC website. 1.91% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in EAT. 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 acquiring an additional 5,350 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Brinker International by 69.3% in the 1st quarter. Victory Capital Management Inc. now owns 13,598 shares of the restaurant operator’s stock worth $598,000 after acquiring an additional 5,566 shares during the period. Arizona State Retirement System increased its holdings in shares of Brinker International by 6.0% in the 1st quarter. Arizona State Retirement System now owns 20,300 shares of the restaurant operator’s stock worth $892,000 after acquiring an additional 1,145 shares during the period. FMR LLC increased its holdings in shares of Brinker International by 114.0% in the 1st quarter. FMR LLC now owns 495,250 shares of the restaurant operator’s stock worth $21,771,000 after acquiring an additional 263,790 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Brinker International by 16.3% in the 1st quarter. Legal & General Group Plc now owns 44,328 shares of the restaurant operator’s stock worth $1,949,000 after acquiring an additional 6,210 shares during the period.
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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