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

Brinker International (NYSE:EAT - Get Free Report) updated its FY 2024 earnings guidance on Tuesday. 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 Up 8.0 %

Shares of NYSE:EAT traded up $3.96 during midday trading on Tuesday, hitting $53.62. The company had a trading volume of 3,762,079 shares, compared to its average volume of 1,322,423. The firm has a fifty day simple moving average of $47.27 and a 200 day simple moving average of $41.82. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 0.79 and a beta of 2.46. Brinker International has a 12 month low of $28.23 and a 12 month high of $54.68.

Brinker International (NYSE:EAT - Get Free Report) last issued its earnings results on Wednesday, January 31st. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.05. The firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.08 billion. Brinker International had a negative return on equity of 113.41% and a net margin of 3.63%. Equities analysts forecast that Brinker International will post 3.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Brinker International from $36.00 to $39.00 and gave the stock an underweight rating in a research report on Friday, April 12th. Barclays increased their price target on Brinker International from $36.00 to $39.00 and gave the stock an equal weight rating in a report on Wednesday, January 3rd. StockNews.com cut Brinker International from a buy rating to a hold rating in a report on Thursday, February 1st. Stifel Nicolaus increased their target price on Brinker International from $50.00 to $55.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Finally, Gordon Haskett raised shares of Brinker International from a hold rating to a buy rating and set a $48.00 price target on the stock in a research note on Tuesday, January 16th. Three investment analysts have rated the stock with a sell rating, ten have assigned 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, the company currently has an average rating of Hold and an average target price of $44.81.

Insider Buying and Selling

In other Brinker International news, CFO Joseph G. Taylor sold 24,163 shares of the firm's stock in a transaction that occurred on Friday, February 2nd. The stock was 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

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.