Brinker International (NYSE:EAT) Hits New 12-Month High After Earnings Beat

Brinker International, Inc. (NYSE:EAT)’s stock price hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $53.27 and last traded at $52.92, with a volume of 805537 shares. The stock had previously closed at $49.66.

The restaurant operator reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.09. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.12 billion. Brinker International had a negative return on equity of 113.41% and a net margin of 3.63%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 earnings per share.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Brinker International from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Friday, April 12th. Raymond James lifted their price target on shares of Brinker International from $45.00 to $50.00 and gave the company a “strong-buy” rating in a report on Thursday, February 1st. Gordon Haskett raised shares of Brinker International from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, January 16th. BMO Capital Markets increased their target price on Brinker International from $55.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Stifel Nicolaus boosted their price target on Brinker International from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.06.

Insider Activity

In other news, CFO Joseph G. Taylor sold 24,163 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $44.97, for a total value of $1,086,610.11. Following the completion of the transaction, the chief financial officer now directly owns 56,661 shares in the company, valued at $2,548,045.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. TFO Wealth Partners LLC increased its holdings in Brinker International by 64,800.0% during the 4th quarter. TFO Wealth Partners LLC now owns 649 shares of the restaurant operator’s stock worth $28,000 after purchasing an additional 648 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in Brinker International by 3,611.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 668 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 650 shares in the last quarter. Signaturefd LLC raised its holdings in Brinker International by 68.9% in the third quarter. Signaturefd LLC now owns 946 shares of the restaurant operator’s stock valued at $30,000 after acquiring an additional 386 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in Brinker International during the 3rd quarter valued at $31,000. Finally, Bogart Wealth LLC increased its position in shares of Brinker International by 100.0% in the 3rd quarter. Bogart Wealth LLC now owns 1,000 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 500 shares during the last quarter.

Brinker International Stock Performance

The business’s 50 day moving average price is $47.44 and its 200-day moving average price is $41.99. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 0.81 and a beta of 2.46.

About Brinker International

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. It operates and franchises Chili's Grill & Bar and Maggiano's Little Italy restaurant brands.