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

Brinker International (NYSE:EAT) 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.

Wall Street Analyst Weigh In

Several research firms have commented on EAT. StockNews.com lowered Brinker International from a buy rating to a hold rating in a research report on Thursday, February 1st. Stifel Nicolaus raised their price objective on Brinker International from $55.00 to $62.00 and gave the company a buy rating in a research report on Wednesday. Royal Bank of Canada lifted their target price on Brinker International from $43.00 to $46.00 and gave the stock a sector perform rating in a research report on Thursday, February 1st. BMO Capital Markets lifted their target price on Brinker International from $55.00 to $65.00 and gave the stock an outperform rating in a research report on Wednesday. Finally, Barclays lifted their target price on Brinker International from $36.00 to $39.00 and gave the stock an equal weight rating in a research report on Wednesday, January 3rd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $46.06.

Brinker International Trading Down 0.2 %

Brinker International stock traded down $0.12 on Thursday, reaching $54.83. 770,450 shares of the stock were exchanged, compared to its average volume of 1,327,892. The stock has a market cap of $2.43 billion, a PE ratio of 16.31, a PEG ratio of 0.84 and a beta of 2.42. Brinker International has a twelve month low of $28.23 and a twelve month high of $55.92. The firm has a fifty day moving average price of $47.64 and a two-hundred day moving average price of $42.08.

Brinker International (NYSE:EAT) last released its earnings results on Tuesday, April 30th. The restaurant operator reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.09. Brinker International had a net margin of 3.55% and a negative return on equity of 154.29%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the business earned $1.23 EPS. The business’s revenue was up 3.4% on a year-over-year basis. Equities analysts anticipate that Brinker International will post 3.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Brinker International news, CFO Joseph G. Taylor sold 24,163 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were 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 filing with the SEC, which can be accessed through the SEC website. Corporate 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.