Brinker International, Inc. (EAT) to Issue Quarterly Dividend of $0.38 on December 28th

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.

Brinker International (NYSE:EAT) last posted its earnings results on Wednesday, November 1st. The restaurant operator reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.01). Brinker International had a negative return on equity of 30.36% and a net margin of 4.39%. The company had revenue of $739.40 million during the quarter, compared to analyst estimates of $749.05 million. During the same quarter last year, the firm posted $0.49 earnings per share. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. analysts predict that Brinker International will post 3.22 earnings per share for the current year.

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.

Dividend History for Brinker International (NYSE:EAT)

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