Brinker International (EAT) Tops Q4 EPS by 1c; Guides FY17 EPS Below Views
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Piper Jaffray Raises Price Target on Brinker International (EAT) to $50 Following 4Q
August 12, 2016 8:08 AM EDTPiper Jaffray reiterated a Neutral rating on Brinker International (NYSE: EAT), and raised the price target to $50.00 (from $49.00), following the company's 4Q earnings report. Fourth-quarter operating earnings increased 31.2% y/y to $1.24 per share, in-line with the Street's $1.23. Unchanged FY17 estimates of... More
RBC Capital Remains Sidelined on Brinker International (EAT) Following 4Q - PT to $55
August 12, 2016 7:02 AM EDTRBC Capital reiterated a Sector Perform rating on Brinker International (NYSE: EAT), and raised the price target to $55.00 (from $49.00), following the company's 4Q earnings report. RBC's FY17 EPS estimates remain unchanged at (-3.6% YOY) and is within the company's $3.40 to $3.50 guidance range.
Analyst... More
Fitch Cuts Brinker International (EAT) to 'BB+' Following Q4 Results
August 11, 2016 11:48 AM EDTFitch Ratings has downgraded Brinker International, Inc.'s (NYSE: EAT) Long-Term Issuer Default Rating (IDR) to 'BB+' from 'BBB-'. The Rating Outlook is Stable.
The downgrade reflects a shift towards a more aggressive financial policy that Fitch projects will result in leverage (total adjusted debt/EBITDAR) moving up by 0.5x to around 4x in fiscal 2017, versus the previous expectation for leverage to be in the mid-3x in fiscal 2017 and versus 3.4x in fiscal 2016. Brinker announced that it plans to increase leverage in the range of $250 to $300 million in the... More
