Citigroup Trims Brinker International (NYSE:EAT) Target Price to $47.00

Brinker International (NYSE:EAT) had its target price trimmed by Citigroup from $52.00 to $47.00 in a research report report published on Wednesday, BenzingaRatingsTable reports. The firm currently has a buy rating on the restaurant operator’s stock.

A number of other research firms also recently issued reports on EAT. Deutsche Bank initiated coverage on shares of Brinker International in a research note on Friday, June 28th. They set a hold rating and a $40.00 price target on the stock. Telsey Advisory Group raised shares of Brinker International from a market perform rating to an outperform rating and set a $47.00 price target on the stock in a research note on Wednesday, June 12th. Maxim Group reaffirmed a buy rating and set a $58.00 price target on shares of Brinker International in a research note on Friday, August 16th. Zacks Investment Research downgraded shares of Brinker International from a buy rating to a hold rating in a research note on Friday, May 3rd. Finally, Loop Capital decreased their price target on shares of Brinker International to $42.00 and set a hold rating on the stock in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Brinker International currently has a consensus rating of Hold and an average price target of $44.00.

Shares of NYSE:EAT opened at $38.64 on Wednesday. The firm has a fifty day moving average price of $39.37 and a 200 day moving average price of $41.50. Brinker International has a fifty-two week low of $36.44 and a fifty-two week high of $53.61. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 9.83, a P/E/G ratio of 1.31 and a beta of 0.25.

Brinker International (NYSE:EAT) last issued its earnings results on Tuesday, August 13th. The restaurant operator reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.01. Brinker International had a net margin of 4.81% and a negative return on equity of 18.81%. The firm had revenue of $834.10 million during the quarter, compared to analyst estimates of $834.69 million. During the same quarter in the prior year, the business earned $1.19 earnings per share. Brinker International’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Brinker International will post 4.14 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, September 6th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.93%. The ex-dividend date is Thursday, September 5th. Brinker International’s dividend payout ratio is currently 38.68%.

In other news, EVP Kelly C. Baltes bought 850 shares of Brinker International stock in a transaction dated Friday, August 16th. The shares were acquired at an average price of $38.00 per share, with a total value of $32,300.00. Following the completion of the purchase, the executive vice president now owns 13,984 shares in the company, valued at approximately $531,392. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Wade Allen sold 725 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $39.74, for a total transaction of $28,811.50. Following the completion of the sale, the senior vice president now directly owns 6,481 shares in the company, valued at approximately $257,554.94. The disclosure for this sale can be found here. Corporate insiders own 2.72% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Strategy Asset Managers LLC bought a new position in shares of Brinker International in the first quarter worth about $79,000. Quantamental Technologies LLC bought a new position in shares of Brinker International in the second quarter worth about $173,000. Janney Montgomery Scott LLC bought a new position in shares of Brinker International in the second quarter worth about $219,000. Lido Advisors LLC bought a new position in shares of Brinker International in the first quarter worth about $253,000. Finally, Weiss Asset Management LP bought a new position in shares of Brinker International in the first quarter worth about $258,000.

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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