Brinker International, Inc. (NYSE:EAT) Expected to Post Quarterly Sales of $977.68 Million

Wall Street brokerages expect Brinker International, Inc. (NYSE:EAT – Get Rating) to report sales of $977.68 million for the current quarter, according to Zacks. Nine analysts have provided estimates for Brinker International’s earnings, with the highest sales estimate coming in at $1.00 billion and the lowest estimate coming in at $955.02 million. Brinker International reported sales of $828.40 million in the same quarter last year, which indicates a positive year over year growth rate of 18%. The company is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Brinker International will report full-year sales of $3.79 billion for the current fiscal year, with estimates ranging from $3.78 billion to $3.82 billion. For the next year, analysts expect that the firm will post sales of $4.03 billion, with estimates ranging from $3.93 billion to $4.15 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Brinker International.

Brinker International (NYSE:EAT – Get Rating) last released its earnings results on Wednesday, February 2nd. The restaurant operator reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.21. Brinker International had a net margin of 4.11% and a negative return on equity of 48.95%. The company had revenue of $925.80 million during the quarter, compared to analysts’ expectations of $924.24 million. During the same quarter last year, the business earned $0.35 EPS. The business’s revenue was up 21.7% on a year-over-year basis.

A number of brokerages have weighed in on EAT. The Goldman Sachs Group reduced their price target on shares of Brinker International from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, January 26th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Brinker International from $47.00 to $44.00 and set a “hold” rating on the stock in a report on Thursday, February 3rd. Barclays reaffirmed an “equal weight” rating and issued a $44.00 price target (up from $41.00) on shares of Brinker International in a report on Thursday, February 3rd. Royal Bank of Canada upped their price target on shares of Brinker International from $38.00 to $40.00 and gave the company a “sector perform” rating in a report on Thursday, February 3rd. Finally, Stephens boosted their target price on shares of Brinker International from $45.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, February 3rd. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Brinker International presently has an average rating of “Hold” and an average target price of $50.65.

In other Brinker International news, CFO Joseph G. Taylor sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 10th. The shares were sold at an average price of $42.94, for a total transaction of $214,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Douglas N. Comings sold 1,000 shares of the company’s stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $42.72, for a total transaction of $42,720.00. The disclosure for this sale can be found here. Insiders sold a total of 31,603 shares of company stock valued at $1,257,955 over the last three months. 4.21% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Future Financial Wealth Managment LLC acquired a new position in shares of Brinker International in the 4th quarter valued at about $30,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Brinker International in the 4th quarter valued at about $51,000. CoreFirst Bank & Trust increased its holdings in shares of Brinker International by 100.3% in the 3rd quarter. CoreFirst Bank & Trust now owns 1,320 shares of the restaurant operator’s stock valued at $65,000 after purchasing an additional 661 shares during the period. WASHINGTON TRUST Co acquired a new position in shares of Brinker International in the 4th quarter valued at about $86,000. Finally, First National Bank of South Miami acquired a new position in shares of Brinker International in the 4th quarter valued at about $124,000. 94.33% of the stock is owned by institutional investors.

EAT traded up $1.48 during midday trading on Friday, reaching $37.68. 15,576 shares of the company’s stock were exchanged, compared to its average volume of 1,158,974. The stock has a market capitalization of $1.68 billion, a PE ratio of 11.81, a P/E/G ratio of 1.03 and a beta of 2.47. The business’s 50-day moving average price is $37.80 and its 200 day moving average price is $38.96. Brinker International has a 1-year low of $30.20 and a 1-year high of $71.78.

Brinker International Company Profile (Get Rating)

Brinker International, Inc, together with its subsidiaries, engages in the ownership, development, operation, and franchising of casual dining restaurants in the United States and internationally. The company operates in two segments, Chili's and Maggiano's. As of June 30, 2021, it owned, operated, or franchised 1,648 restaurants comprising 1,594 restaurants under the Chili's Grill & Bar name and 54 restaurants under the Maggiano's Little Italy brand name.

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