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

Brinker International, Inc. (NYSE:EAT)’s share price gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. 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.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on EAT. Morgan Stanley raised shares of Brinker International from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $70.00 to $115.00 in a research note on Friday, December 20th. Northcoast Research raised shares of Brinker International from a “neutral” rating to a “buy” rating and set a $215.00 target price on the stock in a research report on Thursday. The Goldman Sachs Group lifted their price objective on Brinker International from $162.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday. Raymond James lowered shares of Brinker International from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 17th. Finally, Wedbush raised their price objective on Brinker International from $140.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday. Sixteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $135.48.

Institutional Trading of Brinker International

Hedge funds and other institutional investors have recently modified their holdings of the company. Wolff Wiese Magana LLC boosted its holdings in shares of Brinker International by 100.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 200 shares of the restaurant operator’s stock worth $26,000 after buying an additional 100 shares during the period. NorthCrest Asset Manangement LLC increased its position in shares of Brinker International by 1.1% during the third quarter. NorthCrest Asset Manangement LLC now owns 12,015 shares of the restaurant operator’s stock valued at $920,000 after purchasing an additional 135 shares during the period. Savant Capital LLC raised its stake in shares of Brinker International by 4.7% in the 4th quarter. Savant Capital LLC now owns 3,274 shares of the restaurant operator’s stock valued at $433,000 after buying an additional 147 shares in the last quarter. GAMMA Investing LLC raised its position 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 purchasing an additional 171 shares in the last quarter. Finally, Optimist Retirement Group LLC boosted its stake in Brinker International by 6.1% in the 3rd quarter. Optimist Retirement Group LLC now owns 3,256 shares of the restaurant operator’s stock valued at $249,000 after buying an additional 187 shares in the last quarter.

Brinker International Trading Up 1.4 %

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

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.