Brinker International Stock Rises Ahead Of Q2 Earnings: Retail’s Optimistic
Wall Street analysts expect the company to post $1.86 in earnings per share on revenue of $1.25 billion.
FollowShares of Brinker International Inc. ($EAT) were up 2.2% in pre-market trading on Wednesday ahead of the company’s second-quarter earnings, reviving retail sentiment.
Brinker International, which operates ‘Chili's Grill and Bar’ and ‘Maggiano's Little Italy’ restaurant brands, is scheduled to report earnings before the bell on Wednesday.
Wall Street analysts expect the company to post $1.86 in earnings per share on revenue of
$1.25 billion.
Sentiment on Stocktwits turned ‘bullish’ compared to ‘neutral’ a week ago. Message volumes were in the ‘extremely high’ zone.
On Monday, Stifel analyst Chris O'Cull raised the firm's price target to $170 from $155 with a ‘Buy’ rating, Fly.com reported. According to the analyst, Brinker should report "another solid quarter" driven by strong comparable store sales growth at Chili's. The report added that visitation trends at Chili's were strong each month of fiscal Q2, with sequential acceleration into Q3-to-date.
BMO Capital analyst Andrew Strelzik also raised the firm's price target to $125 from $105 with a ‘Market Perform’ rating. Strelzik was also confident about the “durability” of the Chili's turnaround, Fly.com reported. The firm reaffirmed its neutral stance, noting that sales trends should ultimately normalize and potentially squeeze valuations.
Brinker International stock is up 16.87% year-to-date.
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