$787.85 Million in Sales Expected for Brinker International, Inc. (NYSE:EAT) This Quarter

Analysts expect Brinker International, Inc. (NYSE:EAT) to report sales of $787.85 million for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Brinker International’s earnings, with estimates ranging from $780.08 million to $796.40 million. Brinker International reported sales of $753.80 million in the same quarter last year, which indicates a positive year over year growth rate of 4.5%. The company is expected to report its next earnings report before the market opens on Wednesday, October 30th.

According to Zacks, analysts expect that Brinker International will report full-year sales of $3.53 billion for the current year, with estimates ranging from $3.50 billion to $3.59 billion. For the next financial year, analysts expect that the firm will report sales of $3.64 billion, with estimates ranging from $3.36 billion to $3.74 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Brinker International.

Brinker International (NYSE:EAT) last issued its earnings results on Tuesday, August 13th. The restaurant operator reported $1.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.01. Brinker International had a negative return on equity of 18.81% and a net margin of 4.81%. The firm had revenue of $834.10 million for the quarter, compared to analyst estimates of $834.69 million. During the same period last year, the company earned $1.19 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis.

EAT has been the topic of several analyst reports. Wells Fargo & Co dropped their target price on Brinker International from $41.00 to $40.00 and set a “market perform” rating on the stock in a research report on Monday, August 19th. Loop Capital dropped their target price on Brinker International to $42.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Evercore ISI reaffirmed a “hold” rating and issued a $40.00 target price on shares of Brinker International in a research report on Tuesday, August 13th. Citigroup dropped their target price on Brinker International from $52.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Finally, KeyCorp started coverage on Brinker International in a research report on Tuesday, July 23rd. They issued a “sector weight” rating and a $45.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $44.11.

In related news, VP Michaela M. Ware sold 968 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $39.41, for a total transaction of $38,148.88. Following the completion of the transaction, the vice president now owns 9,973 shares of the company’s stock, valued at $393,035.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelly C. Baltes bought 850 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average cost of $38.00 per share, with a total value of $32,300.00. Following the purchase, the executive vice president now directly owns 13,984 shares of the company’s stock, valued at $531,392. The disclosure for this purchase can be found here. Insiders have sold 13,112 shares of company stock worth $523,720 over the last three months. Corporate insiders own 3.51% of the company’s stock.

A number of hedge funds have recently made changes to their positions in EAT. Amundi Pioneer Asset Management Inc. boosted its stake in Brinker International by 2.0% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 504,946 shares of the restaurant operator’s stock valued at $22,409,000 after buying an additional 10,023 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Brinker International by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 27,217 shares of the restaurant operator’s stock valued at $1,071,000 after purchasing an additional 290 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in shares of Brinker International in the 2nd quarter valued at $252,000. SG Americas Securities LLC boosted its position in shares of Brinker International by 16.9% in the 2nd quarter. SG Americas Securities LLC now owns 19,790 shares of the restaurant operator’s stock valued at $779,000 after purchasing an additional 2,867 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Brinker International in the 2nd quarter valued at $219,000.

NYSE EAT traded up $1.76 during trading hours on Thursday, hitting $44.55. The company had a trading volume of 1,762,637 shares, compared to its average volume of 737,388. Brinker International has a fifty-two week low of $36.44 and a fifty-two week high of $53.61. The business has a fifty day simple moving average of $41.73 and a 200-day simple moving average of $40.52. The firm has a market cap of $1.60 billion, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 1.73 and a beta of 0.27.

About Brinker International

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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