Wedbush Analysts Increase Earnings Estimates for Brinker International, Inc. (NYSE:EAT)

Brinker International, Inc. (NYSE:EAT) – Equities research analysts at Wedbush upped their FY2024 earnings per share (EPS) estimates for shares of Brinker International in a report released on Wednesday, May 1st. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings of $3.97 per share for the year, up from their prior forecast of $3.70. Wedbush currently has a “Neutral” rating and a $47.00 target price on the stock. The consensus estimate for Brinker International’s current full-year earnings is $3.98 per share. Wedbush also issued estimates for Brinker International’s Q4 2024 earnings at $1.46 EPS, Q1 2025 earnings at $0.51 EPS, Q2 2025 earnings at $1.17 EPS, Q3 2025 earnings at $1.26 EPS, Q4 2025 earnings at $1.54 EPS and FY2025 earnings at $4.48 EPS.

A number of other research analysts have also recently commented on EAT. Gordon Haskett raised Brinker International from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Tuesday, January 16th. JPMorgan Chase & Co. lifted their target price on shares of Brinker International from $44.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Evercore ISI upped their price target on shares of Brinker International from $50.00 to $53.00 and gave the company an “in-line” rating in a research note on Wednesday. Royal Bank of Canada lifted their price objective on shares of Brinker International from $43.00 to $46.00 and gave the company a “sector perform” rating in a research note on Thursday, February 1st. Finally, StockNews.com downgraded Brinker International from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Brinker International presently has a consensus rating of “Hold” and an average target price of $46.06.

Brinker International Trading Up 1.2 %

Brinker International stock opened at $54.98 on Friday. The business’s 50 day simple moving average is $47.99 and its 200 day simple moving average is $42.32. Brinker International has a 12 month low of $28.23 and a 12 month high of $56.30. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 0.72 and a beta of 2.42.

Brinker International (NYSE:EAT) last released 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 firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the company earned $1.23 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis.

Institutional Investors Weigh In On Brinker International

Several hedge funds have recently bought and sold shares of EAT. Federated Hermes Inc. bought a new position in shares of Brinker International in the 4th quarter worth $3,522,000. Invesco Ltd. raised its position in Brinker International by 20.4% during the third quarter. Invesco Ltd. now owns 332,176 shares of the restaurant operator’s stock valued at $10,493,000 after purchasing an additional 56,192 shares in the last quarter. SG Americas Securities LLC lifted its stake in Brinker International by 5.5% during the fourth quarter. SG Americas Securities LLC now owns 23,079 shares of the restaurant operator’s stock worth $997,000 after purchasing an additional 1,205 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Brinker International by 63.9% in the 3rd quarter. New York State Common Retirement Fund now owns 31,428 shares of the restaurant operator’s stock worth $993,000 after purchasing an additional 12,251 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Brinker International by 411.7% during the 3rd quarter. Barclays PLC now owns 170,719 shares of the restaurant operator’s stock valued at $5,394,000 after purchasing an additional 137,354 shares during the last quarter.

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.