Brinker International, Inc. (NYSE:EAT) announced its quarterly earnings results on Wednesday. The restaurant operator reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.01), Bloomberg Earnings reports. Brinker International had a net margin of 4.39% and a negative return on equity of 30.36%. The firm had revenue of $739.40 million during the quarter, compared to the consensus estimate of $749.05 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The firm’s revenue was down 2.5% on a year-over-year basis.
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In other news, Director Michael A. George acquired 16,450 shares of the stock in a transaction dated Wednesday, September 6th. The stock was purchased at an average cost of $30.31 per share, with a total value of $498,599.50. Following the completion of the purchase, the director now owns 49,952 shares in the company, valued at approximately $1,514,045.12. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.91% of the company’s stock.
A number of research analysts have recently commented on EAT shares. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Brinker International in a research note on Monday, July 24th. ValuEngine lowered Brinker International from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Telsey Advisory Group lowered their target price on Brinker International from $40.00 to $37.00 and set a “market perform” rating for the company in a research report on Tuesday, September 19th. BMO Capital Markets set a $36.00 target price on Brinker International and gave the stock a “hold” rating in a research report on Saturday, August 12th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $50.00 target price on shares of Brinker International in a research report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $40.50.
Brinker International announced that its Board of Directors has authorized a share buyback program on Thursday, August 10th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the restaurant operator to purchase up to 14.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
Brinker International Company Profile
Brinker International, Inc is engaged in the ownership, operation, development, and franchising of the Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy (Maggiano’s) restaurant brands. The Company’s Chili’s operates Bar & Grill category of casual dining. Chili’s menu features authentic Fresh Mex and Fresh Tex cuisine, including signature items, such as Baby Back Ribs smoked in-house, Hand-Crafted Burgers served with house-made garlic dill pickles, Mix and Match Fajitas, Tableside Guacamole and house-made Chips and Salsa.
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