Brinker International, Inc. (NYSE:EAT) had its price target reduced by Stephens from $40.00 to $34.00 in a research note released on Wednesday. Stephens currently has an equal weight rating on the restaurant operator’s stock.
Several other analysts have also recently commented on the stock. Maxim Group dropped their target price on shares of Brinker International from $54.00 to $49.00 and set a buy rating for the company in a research report on Thursday, August 3rd. ValuEngine upgraded shares of Brinker International from a hold rating to a buy rating in a research report on Thursday, July 27th. Barclays PLC reiterated an equal weight rating and set a $47.00 target price on shares of Brinker International in a research report on Tuesday, July 4th. Piper Jaffray Companies reiterated a hold rating on shares of Brinker International in a research report on Friday, August 11th. Finally, BMO Capital Markets set a $36.00 target price on shares of Brinker International and gave the company a hold rating in a research report on Saturday, August 12th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $42.00.
Shares of Brinker International (EAT) traded down 0.110% during trading on Wednesday, hitting $31.705. The stock had a trading volume of 621,628 shares. Brinker International has a 52 week low of $29.50 and a 52 week high of $55.84. The stock’s 50 day moving average is $31.80 and its 200 day moving average is $37.67. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 10.784 and a beta of 0.26.
Brinker International (NYSE:EAT) last posted its quarterly earnings data on Thursday, August 10th. The restaurant operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.05. Brinker International had a net margin of 4.79% and a negative return on equity of 31.46%. The firm had revenue of $810.66 million during the quarter, compared to analysts’ expectations of $809.94 million. During the same quarter in the previous year, the company posted $1.24 EPS. Brinker International’s revenue was down 8.1% on a year-over-year basis. On average, equities research analysts expect that Brinker International will post $3.23 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Friday, September 8th were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.79%. This is a boost from Brinker International’s previous quarterly dividend of $0.34. Brinker International’s dividend payout ratio is currently 50.84%.
Brinker International declared that its Board of Directors has authorized a share buyback program on Thursday, August 10th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the restaurant operator to purchase up to 14.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
In related news, Director Michael A. George bought 16,450 shares of Brinker International stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average cost of $30.31 per share, with a total value of $498,599.50. Following the purchase, the director now owns 49,952 shares in the company, valued at $1,514,045.12. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.91% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bruderman Asset Management LLC acquired a new position in Brinker International in the 2nd quarter worth $123,000. LS Investment Advisors LLC boosted its stake in Brinker International by 14.2% in the 2nd quarter. LS Investment Advisors LLC now owns 4,689 shares of the restaurant operator’s stock worth $179,000 after purchasing an additional 582 shares during the period. ING Groep NV acquired a new position in Brinker International in the 2nd quarter worth $227,000. Profund Advisors LLC boosted its stake in Brinker International by 0.8% in the 2nd quarter. Profund Advisors LLC now owns 6,849 shares of the restaurant operator’s stock worth $261,000 after purchasing an additional 57 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in Brinker International in the 2nd quarter worth $262,000.
Brinker International Company Profile
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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