Brinker International (NYSE:EAT) Releases FY24 Earnings Guidance

Brinker International (NYSE:EAT) issued an update on its FY24 earnings guidance on Tuesday morning. 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.

Analyst Ratings Changes

EAT has been the subject of a number of research analyst reports. Jefferies Financial Group increased their target price on shares of Brinker International from $47.00 to $48.00 and gave the stock a hold rating in a research report on Tuesday, April 16th. Gordon Haskett raised shares of Brinker International from a hold rating to a buy rating and set a $48.00 target price on the stock in a research note on Tuesday, January 16th. Stifel Nicolaus upped their price target on shares of Brinker International from $55.00 to $62.00 and gave the stock a buy rating in a research report on Wednesday. UBS Group increased their price target on Brinker International from $46.00 to $50.00 and gave the company a neutral rating in a report on Wednesday, April 24th. Finally, Morgan Stanley boosted their price objective on Brinker International from $36.00 to $39.00 and gave the stock an underweight rating in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $46.06.

Brinker International Stock Up 1.2 %

Shares of Brinker International stock traded up $0.64 on Friday, hitting $54.98. 1,059,410 shares of the company’s stock traded hands, compared to its average volume of 1,333,375. The firm’s 50-day moving average is $47.81 and its 200 day moving average is $42.16. The stock has a market cap of $2.45 billion, a P/E ratio of 16.54, a PEG ratio of 0.84 and a beta of 2.42. Brinker International has a 52-week low of $28.23 and a 52-week high of $56.30.

Brinker International (NYSE:EAT) last posted its quarterly earnings data on Tuesday, April 30th. The restaurant operator reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.09. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.12 billion. Brinker International had a net margin of 3.55% and a negative return on equity of 154.29%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.23 EPS. Equities research analysts forecast that Brinker International will post 3.94 EPS for the current year.

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.