Brinker International, Inc. (EAT) SVP Charles A. Lousignont Sells 3,364 Shares
Brinker International, Inc. (NYSE:EAT) SVP Charles A. Lousignont sold 3,364 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $33.00, for a total value of $111,012.00. Following the transaction, the senior vice president now owns 15,074 shares in the company, valued at approximately $497,442. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Brinker International, Inc. (EAT) traded up $0.39 on Monday, reaching $33.74. 1,593,700 shares of the company’s stock were exchanged, compared to its average volume of 1,419,122. The stock has a market cap of $1,561.83, a price-to-earnings ratio of 10.68, a PEG ratio of 1.06 and a beta of 0.16. The company has a debt-to-equity ratio of -2.51, a quick ratio of 0.28 and a current ratio of 0.34. Brinker International, Inc. has a 1-year low of $29.50 and a 1-year high of $55.84.
Brinker International (NYSE:EAT) last announced its earnings results on Wednesday, November 1st. The restaurant operator reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The company had revenue of $739.40 million for the quarter, compared to analysts’ expectations of $749.05 million. Brinker International had a net margin of 4.39% and a negative return on equity of 30.36%. Brinker International’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share. research analysts expect that Brinker International, Inc. will post 3.22 earnings per share for the current fiscal year.
Brinker International announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 10th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the restaurant operator to purchase up to 14.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.
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Several analysts have weighed in on EAT shares. Barclays PLC cut their price objective on Brinker International from $47.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 19th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Brinker International in a research report on Monday, July 24th. Maxim Group reaffirmed a “buy” rating and set a $49.00 price objective (down from $54.00) on shares of Brinker International in a research report on Wednesday, August 9th. Zacks Investment Research raised Brinker International from a “sell” rating to a “hold” rating in a research report on Monday, September 4th. Finally, Stifel Nicolaus started coverage on Brinker International in a research report on Monday, October 2nd. They set a “hold” rating and a $36.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company’s stock. Brinker International has an average rating of “Hold” and a consensus price target of $40.50.
A number of institutional investors and hedge funds have recently made changes to their positions in EAT. Bruderman Asset Management LLC purchased a new stake in shares of Brinker International in the 2nd quarter worth $123,000. LS Investment Advisors LLC increased its stake in shares of Brinker International by 14.2% in the 2nd quarter. LS Investment Advisors LLC now owns 4,689 shares of the restaurant operator’s stock worth $179,000 after purchasing an additional 582 shares in the last quarter. ING Groep NV purchased a new stake in shares of Brinker International in the 2nd quarter worth $227,000. Profund Advisors LLC increased its stake in shares of Brinker International by 0.8% in the 2nd quarter. Profund Advisors LLC now owns 6,849 shares of the restaurant operator’s stock worth $261,000 after purchasing an additional 57 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in shares of Brinker International in the 2nd quarter worth $262,000.
Brinker International Company Profile
Brinker International, Inc is engaged in the ownership, operation, development, and franchising of the Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy (Maggiano’s) restaurant brands. The Company’s Chili’s operates Bar & Grill category of casual dining. Chili’s menu features authentic Fresh Mex and Fresh Tex cuisine, including signature items, such as Baby Back Ribs smoked in-house, Hand-Crafted Burgers served with house-made garlic dill pickles, Mix and Match Fajitas, Tableside Guacamole and house-made Chips and Salsa.
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