Brinker International (NYSE:EAT) Shares Gap Up Following Strong Earnings

Shares of Brinker International, Inc. (NYSE:EATGet Free Report) gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $154.61, but opened at $176.58. Brinker International shares last traded at $176.31, with a volume of 1,197,838 shares changing hands.

The restaurant operator reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $1.43. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barclays upped their price target on Brinker International from $150.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Thursday. BMO Capital Markets lifted their price target on shares of Brinker International from $105.00 to $125.00 and gave the company a “market perform” rating in a research report on Monday. Stifel Nicolaus lifted their price target on Brinker International from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler lifted their price target on Brinker International from $62.00 to $97.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Morgan Stanley upgraded shares of Brinker International from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $70.00 to $115.00 in a report on Friday, December 20th. Sixteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $135.48.

View Our Latest Analysis on Brinker International

Institutional Investors Weigh In On Brinker International

Hedge funds have recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC grew its holdings in shares of Brinker International by 100.0% during the fourth quarter. Wolff Wiese Magana LLC now owns 200 shares of the restaurant operator’s stock worth $26,000 after buying an additional 100 shares in the last quarter. GAMMA Investing LLC lifted its stake in Brinker International by 123.9% in the fourth quarter. GAMMA Investing LLC now owns 309 shares of the restaurant operator’s stock worth $41,000 after acquiring an additional 171 shares during the last quarter. R Squared Ltd purchased a new stake in Brinker International during the 4th quarter worth about $83,000. Longboard Asset Management LP purchased a new position in shares of Brinker International in the 4th quarter valued at $219,000. Finally, Advisory Resource Group purchased a new stake in Brinker International in the fourth quarter valued at approximately $221,000.

Brinker International Stock Up 1.4 %

The firm’s 50 day moving average price is $138.17 and its two-hundred day moving average price is $101.23. The company has a debt-to-equity ratio of 63.54, a current ratio of 0.32 and a quick ratio of 0.26. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 44.48, a P/E/G ratio of 1.56 and a beta of 2.52.

About Brinker International

(Get Free Report)

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.

Read More

Receive News & Ratings for Brinker International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brinker International and related companies with MarketBeat.com's FREE daily email newsletter.