Brinker International (NYSE:EAT) Releases FY 2024 Earnings Guidance

Brinker International (NYSE:EAT) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 3.800-4.000 for the period, compared to the consensus earnings per share estimate of 3.690. The company issued revenue guidance of $4.3 billion-$4.4 billion, compared to the consensus revenue estimate of $4.3 billion. Brinker International also updated its FY24 guidance to $3.80-4.00 EPS.

Brinker International Trading Down 0.2 %

NYSE:EAT traded down $0.12 on Thursday, hitting $54.83. The company had a trading volume of 770,450 shares, compared to its average volume of 1,327,892. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 0.84 and a beta of 2.42. The firm has a 50 day moving average of $47.64 and a two-hundred day moving average of $42.08. Brinker International has a 52 week low of $28.23 and a 52 week high of $55.92.

Brinker International (NYSE:EAT) last issued its quarterly earnings data on Tuesday, April 30th. The restaurant operator reported $1.24 EPS for the quarter, beating the consensus estimate 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 net margin of 3.55% and a negative return on equity of 154.29%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.23 EPS. As a group, equities analysts forecast that Brinker International will post 3.85 EPS for the current year.

Analyst Upgrades and Downgrades

EAT has been the subject of several analyst reports. Raymond James raised their price target on shares of Brinker International from $45.00 to $50.00 and gave the company a strong-buy rating in a research note on Thursday, February 1st. Wedbush raised their price target on shares of Brinker International from $45.00 to $47.00 and gave the company a neutral rating in a research note on Friday, April 26th. BMO Capital Markets lifted their target price on shares of Brinker International from $55.00 to $65.00 and gave the stock an outperform rating in a research note on Wednesday. Royal Bank of Canada raised their price target on shares of Brinker International from $43.00 to $46.00 and gave the stock a sector perform rating in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Brinker International from $44.00 to $48.00 and gave the stock an overweight rating in a report on Tuesday, March 19th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Brinker International presently has a consensus rating of Hold and an average price target of $46.06.

Insiders Place Their Bets

In other Brinker International news, CFO Joseph G. Taylor sold 24,163 shares of Brinker International stock in a transaction dated 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 sale, the chief financial officer now owns 56,661 shares of the company’s stock, valued at $2,548,045.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.

Brinker International Company Profile

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.