Brinker International (NYSE:EAT) Upgraded at Stephens

Stephens upgraded shares of Brinker International (NYSE:EAT) from an equal rating to an overweight rating in a research report report published on Friday morning, BenzingaRatingsTable reports. The firm currently has $45.00 price objective on the restaurant operator’s stock.

EAT has been the subject of several other reports. JPMorgan Chase & Co. upgraded Brinker International from a neutral rating to an overweight rating and lowered their target price for the stock from $44.00 to $43.00 in a report on Monday, July 15th. KeyCorp assumed coverage on Brinker International in a report on Tuesday, July 23rd. They issued a sector weight rating and a $45.00 target price for the company. Evercore ISI reiterated a hold rating and issued a $40.00 target price on shares of Brinker International in a report on Tuesday, August 13th. UBS Group upgraded Brinker International from a sell rating to a neutral rating and set a $39.00 target price for the company in a report on Monday, June 3rd. Finally, Raymond James reiterated an outperform rating and issued a $47.00 target price (down from $50.00) on shares of Brinker International in a report on Wednesday, August 14th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $44.33.

Shares of EAT stock opened at $38.46 on Friday. Brinker International has a twelve month low of $36.44 and a twelve month high of $53.61. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 9.79, a P/E/G ratio of 1.23 and a beta of 0.25. The stock has a fifty day simple moving average of $39.38 and a two-hundred day simple moving average of $41.58.

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 business had revenue of $834.10 million during the quarter, compared to analysts’ expectations of $834.69 million. During the same period in the prior year, the business earned $1.19 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts forecast that Brinker International will post 4.13 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, September 6th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Thursday, September 5th. Brinker International’s payout ratio is 38.68%.

A number of large investors have recently made changes to their positions in EAT. Strategy Asset Managers LLC acquired a new position in Brinker International during the 1st quarter valued at about $79,000. Quantamental Technologies LLC acquired a new position in shares of Brinker International in the second quarter valued at about $173,000. Janney Montgomery Scott LLC acquired a new position in shares of Brinker International in the second quarter valued at about $219,000. Nomura Holdings Inc. acquired a new position in shares of Brinker International in the second quarter valued at about $234,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of Brinker International in the second quarter valued at about $252,000.

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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Analyst Recommendations for Brinker International (NYSE:EAT)

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