Maxim Group analyst Stephen Anderson maintained a Buy rating on Brinker International (EAT) today and set a price target of $58. The company’s shares opened today at $45.15.
Anderson said:
“We maintain our Buy rating and $58 price target on Brinker International (EAT) following today’s release of better-than-expected F3Q19 (March) results. We raise our FY19 EPS forecast to $3.95, from $3.91, due to the F3Q beat, but lower our F4Q19 (June) EPS estimate to $1.39, from $1.42 (vs. $1.35 Street) on slightly higher food costs, though raise our blended comp estimate to +2.4%, from +2.0% (vs. +1.7% Street). We also reduce our FY20 EPS estimate to $4.29, from $4.34 (vs. $4.02 Street), but increase our blended comp estimate to +2.0%, from +1.6% (vs. +1.3% Street), as we expect third-party delivery to be a top-line catalyst. Our FY21 EPS estimate of $4.84 (vs. $4.24 Street) reflects our outlook for continued 1.5%-2.0% comp growth and a return to margin expansion.”
According to TipRanks.com, Anderson is a 5-star analyst with an average return of 10.5% and a 69.3% success rate. Anderson covers the Services sector, focusing on stocks such as Dave & Busters Entertainment, Good Times Restaurants Inc, and Famous Dave’s Of America.
The word on The Street in general, suggests a Hold analyst consensus rating for Brinker International with a $48.50 average price target.
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Based on Brinker International’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $32 million. In comparison, last year the company had a net profit of $46.92 million.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EAT in relation to earlier this year.
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Brinker International, Inc. engages in owning, developing, and franchising Chili’s Grill and Bar and Maggiano’s Little Italy restaurant brands. It operates through the following segments: Chili’s, and Maggiano’s.
