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DALLAS - Brinker International, Inc. (NYSE: NYSE:EAT), the parent company of Chili's Grill & Bar and Maggiano's Little Italy, announced today the appointment of Frank Liberio to its Board of Directors. Liberio brings a wealth of experience in the technology sector within the restaurant industry, having previously held the title of executive vice president and global chief information officer for Restaurant Brands International (NYSE:QSR).
Before his tenure at Restaurant Brands International, Liberio spent over 16 years at McDonald's Corporation (NYSE:MCD) in various leadership roles, culminating in the position of senior vice president and global chief information officer. During his time at McDonald's, he was instrumental in leading the company's digital transformation initiatives.
Joe DePinto, Chairman of the Board at Brinker, expressed enthusiasm about Liberio's addition to the team, stating, "He is both deeply knowledgeable and relatable, and the years of wisdom gained from his exemplary career will be a true asset to the board." The company expects Liberio to contribute valuable insights to Brinker's growth strategies, particularly focusing on enhancing the guest experience.
Brinker International, founded in 1975, is a major player in the global casual dining market. The company operates or franchises nearly 1,600 restaurants in the United States and 27 other countries and two U.S. territories.
Brinker is also the creator of the It's Just Wings virtual brand. The company is committed to providing a special dining experience for its customers, whether in its restaurants or through takeout and delivery services.
The information in this article is based on a press release statement from Brinker International.
In other recent news, Brinker International has seen a flurry of activity with analysts adjusting their outlooks and price targets. Raymond James downgraded the stock from a Strong Buy to a Market Perform rating, but raised its price target to $82.50, citing substantial stock price increase and improved financial health. Stifel increased their price target from $62.00 to $90.00, maintaining a Buy rating based on long-term projections and current marketing strategies.
BMO Capital Markets also raised its stock price target to $65.00, citing stronger restaurant margins. Evercore ISI increased its price target to $53, maintaining an In Line rating, while Argus upgraded Brinker's stock rating from Hold to Buy, setting a price target of $72.00.
These adjustments came in the wake of Brinker International reporting a third-quarter fiscal year 2024 earnings per share (EPS) of $1.24, surpassing the consensus forecast by $0.09. The company also projected solid earnings for fiscal year 2024, with total revenues expected to be in the range of $4.330 billion to $4.350 billion and adjusted earnings per share between $3.80 and $4.00. These are recent developments reflecting Brinker's ongoing recovery and growth potential.
InvestingPro Insights
As Brinker International (NYSE: EAT) welcomes Frank Liberio onto its Board of Directors, the company's strategic focus on technology and enhanced guest experiences aligns with recent positive trends observed in its financial metrics. According to InvestingPro data, Brinker International is currently trading at a P/E ratio of 20.41, which appears favorable when paired with its near-term earnings growth, indicating that the company's stock may be undervalued relative to its earnings potential.
InvestingPro Tips suggest that Brinker International has seen a high return over the last year, with a price total return of 94.74%, and a strong return over the last three months at 46.83%. These figures highlight the company's robust performance in the market and may reflect investor confidence in its growth trajectory.
Moreover, the company's revenue growth has been steady, with a reported increase of 4.98% over the last twelve months as of Q3 2024. This consistent growth is a testament to Brinker International's resilience and adaptability in a competitive dining market.
For those looking to delve deeper into Brinker's financial health and future prospects, there are additional InvestingPro Tips available, which can be accessed through the InvestingPro platform. To gain a comprehensive understanding of Brinker International's investment potential, interested parties can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription. With this offer, investors can access valuable insights to inform their investment decisions.
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