Brinker International (NYSE:EAT) Updates FY24 Earnings Guidance

Brinker International (NYSE:EAT) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.80-4.00 for the period, compared to the consensus earnings per share estimate of $3.69. The company issued revenue guidance of $4.33-4.35 billion, compared to the consensus revenue estimate of $4.34 billion. Brinker International also updated its FY 2024 guidance to 3.800-4.000 EPS.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. StockNews.com downgraded Brinker International from a buy rating to a hold rating in a research note on Thursday, February 1st. Morgan Stanley raised their price target on Brinker International from $36.00 to $39.00 and gave the company an underweight rating in a research report on Friday, April 12th. BMO Capital Markets raised their price target on Brinker International from $55.00 to $65.00 and gave the company an outperform rating in a research report on Wednesday. Royal Bank of Canada raised their price target on Brinker International from $43.00 to $46.00 and gave the company a sector perform rating in a research report on Thursday, February 1st. Finally, Evercore ISI raised their price target on Brinker International from $50.00 to $53.00 and gave the company an in-line rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $46.06.

Brinker International Price Performance

NYSE EAT traded up $0.20 during mid-day trading on Thursday, reaching $55.15. The stock had a trading volume of 633,651 shares, compared to its average volume of 1,326,498. Brinker International has a 1 year low of $28.23 and a 1 year high of $55.92. The stock has a market cap of $2.44 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 0.84 and a beta of 2.42. The company has a fifty day moving average price of $47.64 and a 200 day moving average price of $42.08.

Brinker International (NYSE:EAT) last announced its earnings results on Tuesday, April 30th. The restaurant operator reported $1.24 earnings per share for the quarter, beating 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 business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the business earned $1.23 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts expect that Brinker International will post 3.85 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Joseph G. Taylor sold 24,163 shares of the company’s stock in a transaction on 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 owns 56,661 shares of the company’s stock, valued at approximately $2,548,045.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is currently owned by 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.