Brinker International (NYSE:EAT) Upgraded to Sell at ValuEngine

ValuEngine upgraded shares of Brinker International (NYSE:EAT) from a strong sell rating to a sell rating in a report issued on Thursday morning, ValuEngine reports.

Several other analysts also recently issued reports on the stock. Evercore ISI reaffirmed a hold rating and issued a $40.00 price target on shares of Brinker International in a report on Tuesday, August 13th. OTR Global downgraded shares of Brinker International to a positive rating in a report on Wednesday, August 7th. Telsey Advisory Group raised shares of Brinker International from a market perform rating to an outperform rating and set a $47.00 price target on the stock in a report on Wednesday, June 12th. Raymond James reissued an outperform rating and issued a $47.00 price objective (down previously from $50.00) on shares of Brinker International in a research report on Wednesday, August 14th. They noted that the move was a valuation call. Finally, Maxim Group reissued a buy rating and issued a $58.00 price objective on shares of Brinker International in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. Brinker International currently has a consensus rating of Hold and a consensus target price of $43.94.

Shares of NYSE EAT opened at $43.37 on Thursday. Brinker International has a 12-month low of $36.44 and a 12-month high of $53.61. The company has a market capitalization of $1.62 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 1.76 and a beta of 0.23. The firm’s 50-day moving average is $39.88 and its two-hundred day moving average is $40.93.

Brinker International (NYSE:EAT) last announced its quarterly earnings results on Tuesday, August 13th. The restaurant operator reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.01. Brinker International had a net margin of 4.81% and a negative return on equity of 18.81%. The company had revenue of $834.10 million for the quarter, compared to the consensus estimate of $834.69 million. During the same quarter in the prior year, the firm earned $1.19 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts expect that Brinker International will post 4.15 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, September 6th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Thursday, September 5th. Brinker International’s dividend payout ratio is presently 38.68%.

In related news, EVP Kelly C. Baltes purchased 1,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was purchased at an average price of $38.00 per share, with a total value of $60,800.00. Following the completion of the transaction, the executive vice president now owns 15,584 shares of the company’s stock, valued at approximately $592,192. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelly C. Baltes purchased 850 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average cost of $38.00 per share, with a total value of $32,300.00. Following the transaction, the executive vice president now directly owns 13,984 shares of the company’s stock, valued at approximately $531,392. The disclosure for this purchase can be found here. Insiders have sold 13,112 shares of company stock valued at $523,720 in the last ninety days. 2.72% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Quantamental Technologies LLC acquired a new position in Brinker International during the second quarter worth approximately $173,000. Janney Montgomery Scott LLC acquired a new position in Brinker International during the second quarter worth approximately $219,000. Nomura Holdings Inc. acquired a new position in Brinker International during the second quarter worth approximately $234,000. Quantitative Systematic Strategies LLC acquired a new position in Brinker International during the second quarter worth approximately $252,000. Finally, Lido Advisors LLC acquired a new position in Brinker International during the first quarter worth approximately $253,000.

Brinker International Company Profile

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.

See Also: Outstanding Shares and The Effect on Share Price

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Brinker International (NYSE:EAT)

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