Brinker International, Inc. (NYSE:EAT) Expected to Announce Earnings of $0.41 Per Share

Wall Street analysts expect Brinker International, Inc. (NYSE:EAT) to announce earnings of $0.41 per share for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Brinker International’s earnings. The highest EPS estimate is $0.49 and the lowest is $0.39. Brinker International posted earnings of $0.47 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 12.8%. The business is expected to announce its next earnings report on Tuesday, October 29th.

According to Zacks, analysts expect that Brinker International will report full year earnings of $4.13 per share for the current fiscal year, with EPS estimates ranging from $3.95 to $4.25. For the next fiscal year, analysts expect that the firm will post earnings of $4.41 per share, with EPS estimates ranging from $4.05 to $4.73. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Brinker International.

Brinker International (NYSE:EAT) last announced its earnings results on Tuesday, August 13th. The restaurant operator reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.01. The firm had revenue of $834.10 million for the quarter, compared to the consensus estimate of $834.69 million. Brinker International had a negative return on equity of 18.81% and a net margin of 4.81%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.19 EPS.

Several analysts have weighed in on EAT shares. 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. OTR Global lowered Brinker International to a “positive” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upgraded Brinker International from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $44.00 to $43.00 in a research note on Monday, July 15th. Maxim Group reiterated a “buy” rating and issued a $58.00 price objective on shares of Brinker International in a research note on Friday, August 16th. Finally, ValuEngine upgraded Brinker International from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $44.00.

Brinker International stock traded up $0.94 during mid-day trading on Thursday, hitting $40.30. 94,433 shares of the company’s stock traded hands, compared to its average volume of 1,354,977. The firm has a 50 day moving average price of $39.33 and a 200 day moving average price of $41.51. The company has a market cap of $1.49 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 1.32 and a beta of 0.25. Brinker International has a one year low of $36.44 and a one year high of $53.61.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 6th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.52 annualized dividend and a yield of 3.77%. Brinker International’s dividend payout ratio is 38.68%.

In other news, EVP Kelly C. Baltes purchased 850 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average cost of $38.00 per share, for a total transaction of $32,300.00. Following the completion of the purchase, the executive vice president now directly owns 13,984 shares of the company’s stock, valued at approximately $531,392. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Wade Allen sold 725 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $39.74, for a total value of $28,811.50. Following the transaction, the senior vice president now owns 6,481 shares in the company, valued at $257,554.94. The disclosure for this sale can be found here. Insiders own 2.72% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Brinker International by 6.3% during the second quarter. Vanguard Group Inc. now owns 7,064,022 shares of the restaurant operator’s stock worth $277,970,000 after purchasing an additional 417,228 shares during the period. BlackRock Inc. increased its position in shares of Brinker International by 5.1% during the second quarter. BlackRock Inc. now owns 5,180,556 shares of the restaurant operator’s stock worth $203,853,000 after acquiring an additional 251,037 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Brinker International by 5.9% during the second quarter. JPMorgan Chase & Co. now owns 2,736,748 shares of the restaurant operator’s stock worth $106,842,000 after acquiring an additional 151,578 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Brinker International by 93.8% during the second quarter. Prudential Financial Inc. now owns 1,163,988 shares of the restaurant operator’s stock worth $45,803,000 after acquiring an additional 563,511 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its position in shares of Brinker International by 446.4% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 874,765 shares of the restaurant operator’s stock worth $34,422,000 after acquiring an additional 714,665 shares in 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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Earnings History and Estimates for Brinker International (NYSE:EAT)

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