Brinker International, Inc. (EAT) Given Hold Rating at Royal Bank of Canada
Royal Bank of Canada reaffirmed their hold rating on shares of Brinker International, Inc. (NYSE:EAT) in a report issued on Thursday. They currently have a $49.00 price target on the restaurant operator’s stock.
Several other research analysts have also issued reports on the company. Telsey Advisory Group lowered Brinker International from an outperform rating to a market perform rating and reduced their price target for the stock from $60.00 to $52.00 in a research report on Wednesday, January 4th. Zacks Investment Research upgraded Brinker International from a sell rating to a hold rating in a research report on Tuesday, March 28th. Morgan Stanley lowered Brinker International from an equal weight rating to an underweight rating and set a $47.00 price target on the stock. in a research report on Tuesday, January 17th. Canaccord Genuity restated a hold rating and issued a $43.00 price target on shares of Brinker International in a research report on Friday, February 24th. Finally, Maxim Group reduced their price target on Brinker International from $58.00 to $54.00 and set a buy rating on the stock in a research report on Thursday, January 26th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $52.80.
Shares of Brinker International (NYSE:EAT) traded up 1.36% on Thursday, reaching $44.67. The company’s stock had a trading volume of 923,484 shares. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 13.83 and a beta of 0.23. The stock has a 50-day moving average of $42.68 and a 200 day moving average of $47.45. Brinker International has a 52 week low of $40.92 and a 52 week high of $55.84.
Brinker International (NYSE:EAT) last posted its quarterly earnings results on Wednesday, January 25th. The restaurant operator reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by $0.04. Brinker International had a negative return on equity of 49.35% and a net margin of 5.49%. The company earned $771 million during the quarter, compared to the consensus estimate of $792.60 million. During the same quarter in the prior year, the business earned $0.78 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts expect that Brinker International will post $3.10 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Thursday, March 30th. Shareholders of record on Friday, March 10th were issued a dividend of $0.34 per share. The ex-dividend date was Wednesday, March 8th. This represents a $1.36 annualized dividend and a yield of 3.09%. Brinker International’s dividend payout ratio is presently 42.24%.
In other Brinker International news, EVP Kelli Valade sold 10,500 shares of Brinker International stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $45.81, for a total transaction of $481,005.00. Following the transaction, the executive vice president now directly owns 65,919 shares in the company, valued at $3,019,749.39. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Harriet Edelman sold 3,218 shares of Brinker International stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $42.45, for a total value of $136,604.10. Following the transaction, the director now owns 22,059 shares in the company, valued at $936,404.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,218 shares of company stock worth $639,039. Corporate insiders own 1.76% of the company’s stock.
Several hedge funds have recently modified their holdings of EAT. BlackRock Fund Advisors raised its stake in shares of Brinker International by 2.7% in the third quarter. BlackRock Fund Advisors now owns 2,029,429 shares of the restaurant operator’s stock worth $102,344,000 after buying an additional 53,958 shares during the period. Boyar Asset Management Inc. purchased a new stake in shares of Brinker International during the third quarter worth approximately $1,879,000. Dynamic Capital Management Ltd purchased a new stake in shares of Brinker International during the third quarter worth approximately $5,145,000. BlackRock Advisors LLC raised its stake in shares of Brinker International by 0.3% in the third quarter. BlackRock Advisors LLC now owns 32,052 shares of the restaurant operator’s stock worth $1,616,000 after buying an additional 82 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Brinker International during the fourth quarter worth approximately $10,618,000.
About Brinker International
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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