Brinker International Inc (NYSE:EAT) reported better-than-expected earnings for its first quarter.
Brinker International reported first-quarter revenues of $1.012 billion, marginally beating the consensus of $1.010 billion. Adjusted EPS of $0.28 topped estimates of $0.06.
For FY24, Brinker reaffirmed the outlook for sales at $4.27 billion-$4.35 billion vs. the $4.31 billion estimate. The company raised adjusted EPS to $3.35-$3.65 from $3.15-$3.55 versus the $3.32 estimate.
Brinker shares fell 2.6% to trade at $33.58 on Thursday.
These analysts made changes to their price targets on Brinker following earnings announcement.
- Wedbush raised the price target on Brinker from $33 to $37. Wedbush analyst Nick Setyan maintained a Neutral rating.
- Barclays increased the price target on Brinker from $34 to $36. Barclays analyst Jeffrey Bernstein maintained an Equal-Weight rating.
- Morgan Stanley raised the price target on Brinker from $33 to $36. Morgan Stanley analyst John Glass maintained an Equal-Weight rating.
- Raymond James raised the price target on Brinker from $40 to $42. Raymond James analyst Brian Vaccaro maintained a Strong Buy rating.
Now Read This: Apple Gears Up For Q4 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
