Brokers Set Expectations for Bloomin’ Brands, Inc.’s Q2 2024 Earnings (NASDAQ:BLMN)
Bloomin’ Brands, Inc. (NASDAQ:BLMN – Free Report) – Stock analysts at William Blair lowered their Q2 2024 earnings per share (EPS) estimates for Bloomin’ Brands in a research note issued to investors on Tuesday, May 7th. William Blair analyst S. Zackfia now anticipates that the restaurant operator will post earnings of $0.56 per share for the quarter, down from their prior estimate of $0.61. The consensus estimate for Bloomin’ Brands’ current full-year earnings is $2.55 per share. William Blair also issued estimates for Bloomin’ Brands’ FY2024 earnings at $2.55 EPS and FY2025 earnings at $2.79 EPS.
A number of other analysts have also weighed in on the stock. BMO Capital Markets reduced their price objective on shares of Bloomin’ Brands from $29.00 to $27.00 and set a “market perform” rating on the stock in a research report on Wednesday. UBS Group cut their price target on Bloomin’ Brands from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday. Barclays reduced their price target on shares of Bloomin’ Brands from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday. Citigroup increased their price objective on shares of Bloomin’ Brands from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Finally, JPMorgan Chase & Co. cut Bloomin’ Brands from an “overweight” rating to a “neutral” rating and set a $26.00 target price on the stock. in a research report on Tuesday, January 23rd. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $27.50.
Check Out Our Latest Research Report on BLMN
Bloomin’ Brands Price Performance
Shares of Bloomin’ Brands stock opened at $23.05 on Friday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.27 and a current ratio of 0.34. Bloomin’ Brands has a one year low of $22.03 and a one year high of $30.13. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 9.11, a price-to-earnings-growth ratio of 9.60 and a beta of 2.02. The stock has a 50 day moving average price of $27.28 and a 200-day moving average price of $26.15.
Bloomin’ Brands (NASDAQ:BLMN – Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The restaurant operator reported $0.70 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.05). The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Bloomin’ Brands had a net margin of 5.30% and a return on equity of 73.67%. Bloomin’ Brands’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 EPS.
Bloomin’ Brands Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.16%. The ex-dividend date is Friday, May 17th. Bloomin’ Brands’s dividend payout ratio is presently 37.94%.
Hedge Funds Weigh In On Bloomin’ Brands
Hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in Bloomin’ Brands during the 1st quarter valued at approximately $30,000. EverSource Wealth Advisors LLC increased its holdings in shares of Bloomin’ Brands by 683.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the restaurant operator’s stock valued at $31,000 after purchasing an additional 1,100 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Bloomin’ Brands during the third quarter worth $32,000. TFO Wealth Partners LLC grew its position in Bloomin’ Brands by 284,000.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,841 shares of the restaurant operator’s stock valued at $80,000 after buying an additional 2,840 shares during the period. Finally, Assetmark Inc. grew its position in Bloomin’ Brands by 23.5% during the third quarter. Assetmark Inc. now owns 4,026 shares of the restaurant operator’s stock valued at $99,000 after buying an additional 765 shares during the period.
About Bloomin’ Brands
Bloomin’ Brands, Inc, through its subsidiaries, owns and operates casual, upscale casual, and fine dining restaurants in the United States and internationally. The company operates through two segments, U.S. and International. Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba’s Italian Grill, a casual Italian restaurant; Bonefish Grill; and Fleming’s Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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