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 Stock Performance

Shares of NYSE EAT traded up $3.85 during midday trading on Tuesday, hitting $53.51. 927,546 shares of the company’s stock traded hands, compared to its average volume of 1,285,107. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 0.79 and a beta of 2.46. The firm has a fifty day moving average of $47.27 and a 200 day moving average of $41.82. Brinker International has a 1 year low of $28.23 and a 1 year high of $53.68.

Brinker International (NYSE:EAT) last issued its quarterly earnings data on Wednesday, January 31st. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.05. Brinker International had a net margin of 3.63% and a negative return on equity of 113.41%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.08 billion. On average, equities analysts anticipate that Brinker International will post 3.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

EAT has been the topic of a number of analyst reports. StockNews.com cut Brinker International from a buy rating to a hold rating in a research report on Thursday, February 1st. Morgan Stanley upped 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. Wedbush raised their price objective on shares of Brinker International from $45.00 to $47.00 and gave the company a neutral rating in a research report on Friday. Raymond James lifted their target price 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. Finally, Evercore ISI raised their price target on Brinker International from $48.00 to $50.00 and gave the company an in-line rating in a report on Thursday, April 18th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $44.81.

Insider Activity

In related news, CFO Joseph G. Taylor sold 24,163 shares of Brinker International stock in a transaction dated 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 sale, the chief financial officer now owns 56,661 shares of the company’s stock, valued at $2,548,045.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.