Brinker International (EAT) Lifted to “Outperform” at Raymond James

Raymond James upgraded shares of Brinker International (NYSE:EAT) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday, Marketbeat reports.

Several other analysts have also recently commented on the stock. Loop Capital initiated coverage on shares of Brinker International in a report on Wednesday, October 24th. They set a hold rating and a $50.00 price target for the company. BMO Capital Markets cut shares of Brinker International from an outperform rating to an underperform rating and decreased their price target for the stock from $43.00 to $40.00 in a report on Monday, September 24th. Maxim Group restated a buy rating and set a $55.00 price target on shares of Brinker International in a report on Tuesday, October 30th. Gordon Haskett initiated coverage on shares of Brinker International in a report on Thursday, October 18th. They set a hold rating and a $44.00 price target for the company. Finally, Barclays decreased their price target on shares of Brinker International from $50.00 to $48.00 and set an equal weight rating for the company in a report on Thursday, November 29th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $46.31.

Shares of EAT stock traded down $0.55 during trading on Tuesday, hitting $48.82. 27,873 shares of the company were exchanged, compared to its average volume of 1,055,372. The stock has a market cap of $1.97 billion, a P/E ratio of 13.95, a P/E/G ratio of 1.53 and a beta of 0.25. Brinker International has a twelve month low of $32.03 and a twelve month high of $54.14.

Brinker International (NYSE:EAT) last posted its quarterly earnings results on Tuesday, October 30th. The restaurant operator reported $0.47 EPS for the quarter, topping the consensus estimate of $0.45 by $0.02. The business had revenue of $753.80 million during the quarter, compared to analysts’ expectations of $756.40 million. Brinker International had a net margin of 4.52% and a negative return on equity of 23.89%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $0.42 earnings per share. On average, analysts predict that Brinker International will post 3.76 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 27th. Shareholders of record on Friday, December 7th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Thursday, December 6th. Brinker International’s dividend payout ratio (DPR) is presently 43.43%.

In other news, EVP Steve Provost sold 11,985 shares of the business’s stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $51.00, for a total value of $611,235.00. Following the completion of the sale, the executive vice president now directly owns 27,568 shares in the company, valued at $1,405,968. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Joseph G. Taylor sold 4,000 shares of the business’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $50.70, for a total transaction of $202,800.00. Following the transaction, the chief financial officer now directly owns 7,536 shares in the company, valued at approximately $382,075.20. The disclosure for this sale can be found here. Insiders sold 55,539 shares of company stock valued at $2,692,195 over the last quarter. Corporate insiders own 2.72% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. First Hawaiian Bank increased its holdings in Brinker International by 164.2% in the 4th quarter. First Hawaiian Bank now owns 1,770 shares of the restaurant operator’s stock valued at $78,000 after buying an additional 1,100 shares during the period. Vanguard Group Inc increased its holdings in Brinker International by 8.0% in the 3rd quarter. Vanguard Group Inc now owns 4,909,754 shares of the restaurant operator’s stock valued at $229,433,000 after buying an additional 365,235 shares during the period. Federated Investors Inc. PA increased its holdings in Brinker International by 512.1% in the 3rd quarter. Federated Investors Inc. PA now owns 115,001 shares of the restaurant operator’s stock valued at $5,374,000 after buying an additional 96,213 shares during the period. Vanguard Group Inc. increased its holdings in Brinker International by 8.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,909,754 shares of the restaurant operator’s stock valued at $229,433,000 after buying an additional 365,235 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of Brinker International by 5.3% in the 3rd quarter. Legal & General Group Plc now owns 64,324 shares of the restaurant operator’s stock worth $3,006,000 after purchasing an additional 3,210 shares during the last quarter.

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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Analyst Recommendations for Brinker International (NYSE:EAT)

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