Brinker International (NYSE:EAT – Get Rating) issued an update on its FY 2023 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.45-$2.85 for the period, compared to the consensus EPS estimate of $3.65. The company issued revenue guidance of $3.90 billion-$4.00 billion, compared to the consensus revenue estimate of $4.00 billion.
Wall Street Analyst Weigh In
Several research firms have issued reports on EAT. Deutsche Bank Aktiengesellschaft dropped their price objective on Brinker International from $33.00 to $31.00 and set a hold rating on the stock in a report on Monday, August 29th. Piper Sandler decreased their target price on Brinker International from $80.00 to $42.00 and set an overweight rating for the company in a research report on Thursday, August 25th. Wedbush lifted their target price on Brinker International from $26.00 to $29.00 and gave the stock a neutral rating in a research report on Wednesday, August 24th. The Goldman Sachs Group lowered Brinker International from a buy rating to a neutral rating and decreased their target price for the stock from $46.00 to $28.00 in a research report on Monday, July 18th. Finally, KeyCorp decreased their target price on Brinker International from $40.00 to $30.00 and set an overweight rating for the company in a research report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Brinker International has a consensus rating of Hold and an average price target of $36.74.
Brinker International Stock Performance
Shares of EAT stock traded down $1.74 on Friday, reaching $25.14. 41,405 shares of the company’s stock traded hands, compared to its average volume of 943,710. Brinker International has a 12-month low of $21.47 and a 12-month high of $54.40. The company has a market capitalization of $1.10 billion, a P/E ratio of 10.38, a price-to-earnings-growth ratio of 1.05 and a beta of 2.43. The business’s 50 day moving average price is $27.91 and its two-hundred day moving average price is $30.25.
Insider Buying and Selling
In other Brinker International news, EVP Rick Badgley sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $29.66, for a total value of $296,600.00. Following the completion of the transaction, the executive vice president now owns 37,441 shares of the company’s stock, valued at approximately $1,110,500.06. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.21% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the stock. Alyeska Investment Group L.P. grew its holdings in shares of Brinker International by 2,694.9% in the 1st quarter. Alyeska Investment Group L.P. now owns 761,011 shares of the restaurant operator’s stock valued at $29,040,000 after acquiring an additional 733,782 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Brinker International by 224.6% in the 1st quarter. JPMorgan Chase & Co. now owns 254,950 shares of the restaurant operator’s stock valued at $9,729,000 after acquiring an additional 176,405 shares in the last quarter. LSV Asset Management grew its holdings in shares of Brinker International by 133.4% in the 1st quarter. LSV Asset Management now owns 246,253 shares of the restaurant operator’s stock valued at $9,397,000 after acquiring an additional 140,733 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Brinker International by 431.1% in the 2nd quarter. Millennium Management LLC now owns 153,279 shares of the restaurant operator’s stock valued at $3,377,000 after acquiring an additional 124,417 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Brinker International by 1.9% during the first quarter. Vanguard Group Inc. now owns 5,382,945 shares of the restaurant operator’s stock worth $205,414,000 after purchasing an additional 102,122 shares during the period. Institutional investors and hedge funds own 95.38% 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. The company operates in two segments, Chili's and Maggiano's. As of June 30, 2021, it owned, operated, or franchised 1,648 restaurants comprising 1,594 restaurants under the Chili's Grill & Bar name and 54 restaurants under the Maggiano's Little Italy brand name.
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