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 equities analysts have weighed in on the company. Royal Bank of Canada upped their target price on Brinker International from $43.00 to $46.00 and gave the stock a sector perform rating in a research note on Thursday, February 1st. Jefferies Financial Group upped their target price on Brinker International from $47.00 to $48.00 and gave the stock a hold rating in a research note on Tuesday, April 16th. BMO Capital Markets increased their price objective on Brinker International from $52.00 to $55.00 and gave the company an outperform rating in a research report on Thursday, February 1st. Morgan Stanley increased their price objective on Brinker International from $36.00 to $39.00 and gave the company an underweight rating in a research report on Friday, April 12th. Finally, Wedbush increased their price objective on Brinker International from $45.00 to $47.00 and gave the company a neutral rating in a research report on Friday. Three equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $44.81.

Brinker International Stock Performance

EAT stock traded up $4.40 during trading on Tuesday, hitting $54.06. 2,322,387 shares of the company traded hands, compared to its average volume of 1,304,362. The firm has a market capitalization of $2.39 billion, a PE ratio of 15.71, a P/E/G ratio of 0.79 and a beta of 2.46. Brinker International has a 1 year low of $28.23 and a 1 year high of $54.30. The company has a 50-day moving average of $47.27 and a 200-day moving average of $41.82.

Brinker International (NYSE:EAT) last released its quarterly earnings data on Wednesday, January 31st. The restaurant operator reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.05. Brinker International had a negative return on equity of 113.41% and a net margin of 3.63%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Sell-side analysts expect that Brinker International will post 3.71 EPS for the current year.

Insiders Place Their Bets

In other Brinker International news, CFO Joseph G. Taylor sold 24,163 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $44.97, for a total value of $1,086,610.11. Following the completion of the sale, the chief financial officer now owns 56,661 shares in the company, valued at approximately $2,548,045.17. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.50% of the company’s stock.

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.