Brinker International, Inc. (NYSE:EAT) announced a quarterly dividend on Thursday, November 16th, RTT News reports. Investors of record on Friday, December 8th will be given a dividend of 0.38 per share by the restaurant operator on Thursday, December 28th. This represents a $1.52 annualized dividend and a yield of 3.90%. The ex-dividend date is Thursday, December 7th.
Brinker International has increased its dividend by an average of 14.5% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Brinker International has a payout ratio of 47.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Brinker International to earn $3.27 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 46.5%.
Shares of Brinker International (NYSE EAT) opened at $38.94 on Wednesday. Brinker International has a 1-year low of $29.50 and a 1-year high of $54.43. The company has a quick ratio of 0.28, a current ratio of 0.34 and a debt-to-equity ratio of -2.51. The firm has a market capitalization of $1,793.74, a P/E ratio of 12.26, a P/E/G ratio of 1.22 and a beta of 0.24.
In related news, SVP Charles A. Lousignont sold 3,364 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $33.00, for a total value of $111,012.00. Following the completion of the transaction, the senior vice president now directly owns 15,074 shares in the company, valued at $497,442. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.91% of the company’s stock.
Brinker International declared that its Board of Directors has approved a share repurchase program on Thursday, August 10th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the restaurant operator to repurchase up to 14.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
EAT has been the subject of a number of research analyst reports. ValuEngine lowered Brinker International from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Telsey Advisory Group cut their price target on Brinker International from $40.00 to $37.00 and set a “market perform” rating for the company in a report on Tuesday, September 19th. BMO Capital Markets set a $36.00 price target on Brinker International and gave the stock a “hold” rating in a report on Saturday, August 12th. Stephens cut their price target on Brinker International from $40.00 to $34.00 and set an “equal weight” rating for the company in a report on Wednesday, October 11th. Finally, Maxim Group reiterated a “buy” rating and set a $49.00 price target on shares of Brinker International in a report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $40.50.
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About Brinker International
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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