$838.53 Million in Sales Expected for Brinker International, Inc. (NYSE:EAT) This Quarter


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Brokerages expect that Brinker International, Inc. (NYSE:EAT) will post $838.53 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Brinker International’s earnings. The highest sales estimate is $862.22 million and the lowest is $780.24 million. Brinker International posted sales of $860.00 million in the same quarter last year, which suggests a negative year over year growth rate of 2.5%. The business is scheduled to issue its next quarterly earnings results on Wednesday, May 5th.

According to Zacks, analysts expect that Brinker International will report full year sales of $3.27 billion for the current year, with estimates ranging from $3.19 billion to $3.32 billion. For the next financial year, analysts forecast that the firm will report sales of $3.60 billion, with estimates ranging from $3.46 billion to $3.71 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Brinker International.

Brinker International (NYSE:EAT) last issued its earnings results on Tuesday, January 26th. The restaurant operator reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.04. Brinker International had a negative return on equity of 12.26% and a net margin of 0.67%. The firm had revenue of $760.70 million for the quarter, compared to analyst estimates of $756.79 million. During the same period last year, the company earned $1.01 earnings per share. The firm’s revenue for the quarter was down 12.5% on a year-over-year basis.

A number of research analysts have recently commented on the company. Zacks Investment Research lowered Brinker International from a “strong-buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a report on Monday, December 21st. Deutsche Bank Aktiengesellschaft raised their price target on Brinker International from $46.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Piper Sandler raised their price target on Brinker International from $70.00 to $76.00 and gave the company an “overweight” rating in a report on Friday, February 12th. Loop Capital raised their price target on Brinker International from $61.00 to $75.00 and gave the company a “buy” rating in a report on Monday, January 25th. Finally, MKM Partners raised their price target on Brinker International from $67.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, February 9th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Brinker International presently has an average rating of “Buy” and an average target price of $56.24.

In related news, SVP Wade Allen sold 4,760 shares of the company’s stock in a transaction that occurred on Thursday, December 3rd. The shares were sold at an average price of $53.31, for a total value of $253,755.60. Following the completion of the sale, the senior vice president now owns 15,677 shares in the company, valued at approximately $835,740.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Douglas N. Comings sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $64.73, for a total transaction of $64,730.00. Following the completion of the sale, the chief operating officer now owns 23,980 shares of the company’s stock, valued at approximately $1,552,225.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,304 shares of company stock valued at $973,046. 3.72% of the stock is owned by insiders.

Several large investors have recently modified their holdings of EAT. BlackRock Inc. lifted its position in shares of Brinker International by 20.8% in the 3rd quarter. BlackRock Inc. now owns 8,179,603 shares of the restaurant operator’s stock valued at $349,433,000 after acquiring an additional 1,408,084 shares in the last quarter. Candlestick Capital Management LP purchased a new stake in Brinker International in the 3rd quarter worth approximately $34,572,000. Newbrook Capital Advisors LP purchased a new stake in Brinker International in the 4th quarter worth approximately $35,497,000. Victory Capital Management Inc. lifted its position in Brinker International by 98.1% in the 4th quarter. Victory Capital Management Inc. now owns 902,660 shares of the restaurant operator’s stock worth $51,063,000 after buying an additional 447,072 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in Brinker International in the 3rd quarter worth approximately $18,095,000. Institutional investors and hedge funds own 97.17% of the company’s stock.

NYSE EAT traded down $3.38 during trading hours on Tuesday, hitting $70.85. The company had a trading volume of 1,290,570 shares, compared to its average volume of 1,208,939. The firm has a market cap of $3.22 billion, a P/E ratio of 130.23, a price-to-earnings-growth ratio of 1.08 and a beta of 2.65. Brinker International has a fifty-two week low of $7.00 and a fifty-two week high of $74.99. The business has a fifty day simple moving average of $62.77 and a 200-day simple moving average of $50.70.

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 24, 2020, it owned, operated, or franchised 1,663 restaurants comprising 1,610 restaurants under the Chili's Grill & Bar name and 53 restaurants under the Maggiano's Little Italy brand name.

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Earnings History and Estimates for Brinker International (NYSE:EAT)

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