Brinker International, Inc. (NYSE:EAT – Get Rating) – Investment analysts at Zacks Research decreased their Q3 2023 earnings per share estimates for shares of Brinker International in a report released on Tuesday, September 6th. Zacks Research analyst H. Ray now forecasts that the restaurant operator will post earnings of $1.25 per share for the quarter, down from their previous estimate of $1.37. The consensus estimate for Brinker International's current full-year earnings is $2.60 per share. Zacks Research also issued estimates for Brinker International's Q2 2024 earnings at $1.06 EPS, Q3 2024 earnings at $1.17 EPS, Q4 2024 earnings at $1.06 EPS, FY2024 earnings at $4.10 EPS and FY2025 earnings at $4.78 EPS.
Get Brinker International alerts:Brinker International (NYSE:EAT – Get Rating) last posted its quarterly earnings results on Wednesday, August 24th. The restaurant operator reported $1.15 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Brinker International had a net margin of 3.09% and a negative return on equity of 45.77%. The company's revenue was up 1.3% on a year-over-year basis. During the same period last year, the company earned $1.68 EPS.
A number of other brokerages have also recently issued reports on EAT. Wedbush increased their target price on Brinker International from $26.00 to $29.00 and gave the stock a "neutral" rating in a report on Wednesday, August 24th. Piper Sandler decreased their price target on Brinker International from $80.00 to $42.00 and set an "overweight" rating on the stock in a research report on Thursday, August 25th. The Goldman Sachs Group lowered Brinker International from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $46.00 to $28.00 in a research report on Monday, July 18th. MKM Partners decreased their price target on Brinker International from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, June 3rd. Finally, UBS Group decreased their price target on Brinker International from $41.00 to $34.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 17th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $36.74.Brinker International Trading Up 4.3 %
Shares of EAT opened at $29.65 on Friday. Brinker International has a 1 year low of $21.47 and a 1 year high of $54.40. The stock has a 50 day simple moving average of $26.90 and a 200-day simple moving average of $30.88. The stock has a market cap of $1.30 billion, a PE ratio of 11.45, a PEG ratio of 1.06 and a beta of 2.43.
Hedge Funds Weigh In On Brinker International
Hedge funds have recently modified their holdings of the stock. Peregrine Capital Management LLC grew its holdings in Brinker International by 31.6% during the first quarter. Peregrine Capital Management LLC now owns 351,445 shares of the restaurant operator's stock worth $13,411,000 after purchasing an additional 84,355 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Brinker International during the fourth quarter worth approximately $51,000. Clear Harbor Asset Management LLC bought a new stake in shares of Brinker International during the first quarter worth approximately $554,000. CastleKnight Management LP bought a new stake in shares of Brinker International during the fourth quarter worth approximately $2,799,000. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Brinker International by 34.4% during the first quarter. Panagora Asset Management Inc. now owns 92,313 shares of the restaurant operator's stock worth $3,523,000 after acquiring an additional 23,643 shares during the period. Institutional investors own 95.38% of the company's stock.
About Brinker International
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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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