Citigroup Cuts Brinker International (NYSE:EAT) Price Target to $47.00

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Brinker International (NYSE:EAT) had its target price reduced by Citigroup from $52.00 to $47.00 in a research report released on Wednesday morning, BenzingaRatingsTable reports. They currently have a buy rating on the restaurant operator’s stock.

A number of other equities analysts have also recently commented on EAT. OTR Global cut shares of Brinker International to a positive rating in a research report on Wednesday, August 7th. Loop Capital reduced their target price on shares of Brinker International to $42.00 and set a hold rating for the company in a research report on Wednesday, August 14th. KeyCorp assumed coverage on shares of Brinker International in a research report on Tuesday, July 23rd. They issued a sector weight rating and a $45.00 target price for the company. JPMorgan Chase & Co. raised shares of Brinker International from a neutral rating to an overweight rating and reduced their target price for the company from $44.00 to $43.00 in a research report on Monday, July 15th. Finally, Maxim Group reissued a buy rating and issued a $58.00 target price on shares of Brinker International in a research report on Friday, August 16th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. Brinker International has a consensus rating of Hold and an average price target of $44.00.

EAT stock opened at $38.64 on Wednesday. The company has a fifty day moving average price of $39.37 and a two-hundred day moving average price of $41.50. Brinker International has a one year low of $36.44 and a one year high of $53.61. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 1.31 and a beta of 0.25.

Brinker International (NYSE:EAT) last released its quarterly earnings data on Tuesday, August 13th. The restaurant operator reported $1.36 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $834.10 million during the quarter, compared to analysts’ expectations of $834.69 million. During the same period in the previous year, the business posted $1.19 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts expect that Brinker International will post 4.14 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 6th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.52 annualized dividend and a yield of 3.93%. Brinker International’s dividend payout ratio is 38.68%.

In other news, EVP Kelly C. Baltes acquired 850 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was acquired at an average price of $38.00 per share, with a total value of $32,300.00. Following the completion of the transaction, the executive vice president now directly owns 13,984 shares of the company’s stock, valued at approximately $531,392. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelly C. Baltes acquired 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were purchased at an average cost of $38.00 per share, with a total value of $60,800.00. Following the transaction, the executive vice president now directly owns 15,584 shares of the company’s stock, valued at $592,192. The disclosure for this purchase can be found here. Corporate insiders own 2.72% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wedge Capital Management L L P NC lifted its position in Brinker International by 10.7% during the first quarter. Wedge Capital Management L L P NC now owns 10,753 shares of the restaurant operator’s stock worth $477,000 after purchasing an additional 1,038 shares during the period. Alpha Windward LLC lifted its position in Brinker International by 8.0% during the second quarter. Alpha Windward LLC now owns 11,280 shares of the restaurant operator’s stock worth $459,000 after purchasing an additional 840 shares during the period. Federated Investors Inc. PA lifted its position in Brinker International by 111.8% during the first quarter. Federated Investors Inc. PA now owns 144,375 shares of the restaurant operator’s stock worth $6,407,000 after purchasing an additional 76,212 shares during the period. Tdam USA Inc. lifted its position in Brinker International by 20.6% during the first quarter. Tdam USA Inc. now owns 6,743 shares of the restaurant operator’s stock worth $299,000 after purchasing an additional 1,153 shares during the period. Finally, Raymond James & Associates lifted its position in Brinker International by 2.2% during the first quarter. Raymond James & Associates now owns 39,625 shares of the restaurant operator’s stock worth $1,759,000 after purchasing an additional 858 shares during the period.

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.

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