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 (EPS) guidance of 3.800-4.000 for the period, compared to the consensus 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 Up 3.4 %

Shares of Brinker International stock traded up $1.82 during trading on Wednesday, reaching $55.42. The company’s stock had a trading volume of 1,468,849 shares, compared to its average volume of 1,322,149. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 0.81 and a beta of 2.46. The firm’s 50-day moving average is $47.44 and its two-hundred day moving average is $41.99. Brinker International has a 52-week low of $28.23 and a 52-week high of $55.42.

Brinker International (NYSE:EAT) last announced its quarterly earnings results on Tuesday, April 30th. The restaurant operator reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.09. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Brinker International had a net margin of 3.63% and a negative return on equity of 113.41%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.23 EPS. On average, equities research analysts anticipate that Brinker International will post 3.71 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on EAT. Gordon Haskett raised shares of Brinker International from a hold rating to a buy rating and set a $48.00 price target for the company in a research report on Tuesday, January 16th. JPMorgan Chase & Co. increased their price target on shares of Brinker International from $44.00 to $48.00 and gave the company an overweight rating in a research report on Tuesday, March 19th. Stifel Nicolaus increased their price target on shares of Brinker International from $55.00 to $62.00 and gave the company a buy rating in a research report on Wednesday. Wedbush raised their target price on shares of Brinker International from $45.00 to $47.00 and gave the stock a neutral rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada raised their target price on shares of Brinker International from $43.00 to $46.00 and gave the stock a sector perform rating in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a sell rating, ten have issued 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 stock currently has an average rating of Hold and an average price target of $46.06.

Insider Buying and Selling

In related news, CFO Joseph G. Taylor sold 24,163 shares of the stock in a transaction dated Friday, February 2nd. The shares were 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 approximately $2,548,045.17. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by company 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.