Piper Sandler Equities Analysts Lower Earnings Estimates for Brinker International, Inc. (NYSE:EAT)

Brinker International, Inc. (NYSE:EAT) – Piper Sandler decreased their Q3 2021 EPS estimates for Brinker International in a report issued on Monday, March 1st. Piper Sandler analyst N. Regan now anticipates that the restaurant operator will post earnings per share of $0.65 for the quarter, down from their prior forecast of $0.88. Piper Sandler has a “Overweight” rating and a $76.00 price objective on the stock. Piper Sandler also issued estimates for Brinker International’s Q4 2021 earnings at $1.05 EPS, FY2021 earnings at $2.33 EPS and Q1 2022 earnings at $0.59 EPS.

A number of other equities research analysts have also recently commented on the company. Stephens lifted their target price on Brinker International from $55.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, January 4th. Stifel Nicolaus lifted their target price on Brinker International from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, February 5th. Morgan Stanley lifted their target price on Brinker International from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 28th. Zacks Investment Research cut Brinker International from a “strong-buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research note on Monday, December 21st. Finally, KeyCorp lifted their price objective on Brinker International from $64.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday, February 10th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $56.24.

NYSE EAT opened at $71.99 on Thursday. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 126.30, a PEG ratio of 1.08 and a beta of 2.65. Brinker International has a one year low of $7.00 and a one year high of $74.99. The business’s fifty day moving average is $65.24 and its 200-day moving average is $52.79.

Brinker International (NYSE:EAT) last released its earnings results on Tuesday, January 26th. The restaurant operator reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.04. The company had revenue of $760.70 million for the quarter, compared to analysts’ expectations of $756.79 million. Brinker International had a negative return on equity of 12.26% and a net margin of 0.67%. The business’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 EPS.

In related news, EVP Rick Badgley sold 544 shares of the stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $65.00, for a total transaction of $35,360.00. Following the completion of the sale, the executive vice president now owns 26,666 shares in the company, valued at $1,733,290. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steve Provost sold 10,000 shares of the stock in a transaction dated Tuesday, February 2nd. The stock was sold at an average price of $61.92, for a total value of $619,200.00. Insiders sold 11,544 shares of company stock worth $719,290 in the last ninety days. Corporate insiders own 3.72% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Hodges Capital Management Inc. purchased a new stake in shares of Brinker International during the fourth quarter worth about $3,550,000. GWM Advisors LLC purchased a new stake in shares of Brinker International during the third quarter worth about $208,000. Morgan Stanley grew its position in shares of Brinker International by 68.9% during the third quarter. Morgan Stanley now owns 235,611 shares of the restaurant operator’s stock worth $10,064,000 after purchasing an additional 96,095 shares in the last quarter. State of Tennessee Treasury Department purchased a new stake in shares of Brinker International during the third quarter worth about $1,299,000. Finally, New York State Teachers Retirement System grew its holdings in Brinker International by 1.8% during the 4th quarter. New York State Teachers Retirement System now owns 92,425 shares of the restaurant operator’s stock valued at $5,228,000 after buying an additional 1,600 shares in the last quarter. Hedge funds and other institutional investors own 97.17% of the company’s stock.

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 24, 2020, it owned, operated, or franchised 1,663 restaurants comprising 1,610 restaurants under the Chili's Grill & Bar name and 53 restaurants under the Maggiano's Little Italy brand name.

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Earnings History and Estimates for Brinker International (NYSE:EAT)

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