Analysts Expect Brinker International, Inc. (NYSE:EAT) Will Post Quarterly Sales of $788.28 Million

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Wall Street analysts expect Brinker International, Inc. (NYSE:EAT) to post sales of $788.28 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Brinker International’s earnings. The highest sales estimate is $796.40 million and the lowest is $780.68 million. Brinker International reported sales of $753.80 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.6%. The company is scheduled to report its next earnings results on Tuesday, October 29th.

On average, analysts expect that Brinker International will report full-year sales of $3.53 billion for the current year, with estimates ranging from $3.50 billion to $3.59 billion. For the next financial year, analysts anticipate that the firm will report sales of $3.65 billion, with estimates ranging from $3.36 billion to $3.74 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Brinker International.

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

EAT has been the subject of a number of recent analyst reports. BMO Capital Markets set a $36.00 target price on shares of Brinker International and gave the company a “sell” rating in a research report on Friday, August 16th. Telsey Advisory Group upgraded shares of Brinker International from a “market perform” rating to an “outperform” rating and set a $47.00 target price for the company in a research report on Wednesday, June 12th. KeyCorp assumed coverage on shares of Brinker International in a report on Tuesday, July 23rd. They issued a “sector weight” rating and a $45.00 price target for the company. Wells Fargo & Co cut their price target on shares of Brinker International from $41.00 to $40.00 and set a “market perform” rating for the company in a report on Monday, August 19th. Finally, Loop Capital cut their price target on shares of Brinker International to $42.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. Brinker International presently has an average rating of “Hold” and an average target price of $43.94.

In other news, EVP Kelly C. Baltes acquired 850 shares of Brinker International stock in a transaction on Friday, August 16th. The stock was bought at an average cost 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 of the company’s stock, valued at $531,392. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michaela M. Ware sold 968 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $39.41, for a total transaction of $38,148.88. Following the sale, the vice president now directly owns 9,973 shares of the company’s stock, valued at $393,035.93. The disclosure for this sale can be found here. Insiders sold a total of 13,112 shares of company stock valued at $523,720 over the last three months. 2.72% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of EAT. Skandinaviska Enskilda Banken AB publ lifted its stake in 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 valued at $34,422,000 after buying an additional 714,665 shares in the last quarter. Prudential Financial Inc. lifted its stake in Brinker International by 93.8% during the second quarter. Prudential Financial Inc. now owns 1,163,988 shares of the restaurant operator’s stock valued at $45,803,000 after buying an additional 563,511 shares in the last quarter. Vanguard Group Inc. lifted its stake in Brinker International by 6.3% during the second quarter. Vanguard Group Inc. now owns 7,064,022 shares of the restaurant operator’s stock valued at $277,970,000 after buying an additional 417,228 shares in the last quarter. Holocene Advisors LP lifted its stake in Brinker International by 1,532.8% during the second quarter. Holocene Advisors LP now owns 339,800 shares of the restaurant operator’s stock valued at $13,371,000 after buying an additional 318,989 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Brinker International by 5.1% during the second quarter. BlackRock Inc. now owns 5,180,556 shares of the restaurant operator’s stock valued at $203,853,000 after buying an additional 251,037 shares in the last quarter.

EAT traded up $1.30 on Monday, reaching $43.50. The company had a trading volume of 1,081,833 shares, compared to its average volume of 1,218,241. The company has a fifty day moving average of $39.36 and a 200-day moving average of $40.98. The company has a market capitalization of $1.59 billion, a P/E ratio of 11.07, a PEG ratio of 1.40 and a beta of 0.23. Brinker International has a one year low of $36.44 and a one year high of $53.61.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 6th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Thursday, September 5th. Brinker International’s payout ratio is 38.68%.

About Brinker International

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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