Brinker International (NYSE:EAT) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Brinker International (NYSE:EAT - Get Free Report) posted its quarterly earnings results on Tuesday. The restaurant operator reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.09, Yahoo Finance reports. Brinker International had a negative return on equity of 113.41% and a net margin of 3.63%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the company earned $1.23 EPS. Brinker International's revenue for the quarter was up 3.4% compared to the same quarter last year. Brinker International updated its FY24 guidance to $3.80-4.00 EPS and its FY 2024 guidance to 3.800-4.000 EPS.

Brinker International Trading Up 2.5 %

NYSE:EAT traded up $1.36 during trading hours on Wednesday, reaching $54.96. 2,391,676 shares of the company traded hands, compared to its average volume of 1,335,156. The business's 50-day moving average price is $47.44 and its two-hundred day moving average price is $41.99. The stock has a market capitalization of $2.43 billion, a P/E ratio of 16.12, a P/E/G ratio of 0.81 and a beta of 2.46. Brinker International has a 1 year low of $28.23 and a 1 year high of $55.69.

Analysts Set New Price Targets

EAT has been the topic of a number of recent analyst reports. Wedbush lifted their price objective on Brinker International from $45.00 to $47.00 and gave the stock a "neutral" rating in a research report on Friday, April 26th. Evercore ISI lifted their price objective on Brinker International from $50.00 to $53.00 and gave the stock an "in-line" rating in a research report on Wednesday. Stifel Nicolaus lifted their price objective on Brinker International from $55.00 to $62.00 and gave the stock a "buy" rating in a research report on Wednesday. Morgan Stanley lifted their price objective on Brinker International from $36.00 to $39.00 and gave the stock an "underweight" rating in a research report on Friday, April 12th. Finally, Raymond James lifted their price objective on Brinker International from $45.00 to $50.00 and gave the stock a "strong-buy" rating in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Brinker International presently has an average rating of "Hold" and a consensus price target of $46.06.

Insider Buying and Selling at Brinker International

In other Brinker International news, CFO Joseph G. Taylor sold 24,163 shares of Brinker International stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $44.97, for a total transaction of $1,086,610.11. Following the completion of the transaction, the chief financial officer now owns 56,661 shares in the company, valued at $2,548,045.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is owned by company insiders.

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.