Q1 2024 EPS Estimates for Bloomin’ Brands, Inc. (NASDAQ:BLMN) Raised by Analyst

Bloomin’ Brands, Inc. (NASDAQ:BLMN) – Equities researchers at William Blair increased their Q1 2024 EPS estimates for Bloomin’ Brands in a report issued on Wednesday, April 24th. William Blair analyst S. Zackfia now expects that the restaurant operator will post earnings of $0.73 per share for the quarter, up from their prior estimate of $0.72. The consensus estimate for Bloomin’ Brands’ current full-year earnings is $2.55 per share.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings data on Friday, February 23rd. The restaurant operator reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. Bloomin’ Brands had a net margin of 5.30% and a return on equity of 73.67%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year.

Several other brokerages have also recently issued reports on BLMN. BMO Capital Markets boosted their price target on shares of Bloomin’ Brands from $27.00 to $29.00 and gave the company a “market perform” rating in a research report on Monday, February 26th. Barclays upped their target price on shares of Bloomin’ Brands from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, February 26th. Citigroup upped their target price on shares of Bloomin’ Brands from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. downgraded shares of Bloomin’ Brands from an “overweight” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a research report on Tuesday, January 23rd. Finally, Raymond James increased their price objective on shares of Bloomin’ Brands from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $27.90.

Bloomin’ Brands Price Performance

Shares of NASDAQ BLMN opened at $25.79 on Monday. Bloomin’ Brands has a 1 year low of $22.03 and a 1 year high of $30.13. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.34 and a quick ratio of 0.27. The company’s 50-day moving average is $27.76 and its 200 day moving average is $26.15. The stock has a market capitalization of $2.25 billion, a P/E ratio of 10.19, a P/E/G ratio of 10.35 and a beta of 2.00.

Institutional Trading of Bloomin’ Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the company. SummerHaven Investment Management LLC increased its stake in shares of Bloomin’ Brands by 1.6% in the fourth quarter. SummerHaven Investment Management LLC now owns 26,763 shares of the restaurant operator’s stock worth $753,000 after purchasing an additional 417 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in shares of Bloomin’ Brands by 4.8% in the third quarter. Verdence Capital Advisors LLC now owns 12,250 shares of the restaurant operator’s stock worth $301,000 after purchasing an additional 566 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its stake in shares of Bloomin’ Brands by 5.2% in the first quarter. Nations Financial Group Inc. IA ADV now owns 13,686 shares of the restaurant operator’s stock worth $393,000 after purchasing an additional 671 shares in the last quarter. Rye Brook Capital LLC increased its stake in shares of Bloomin’ Brands by 0.3% in the first quarter. Rye Brook Capital LLC now owns 247,700 shares of the restaurant operator’s stock worth $7,104,000 after purchasing an additional 700 shares in the last quarter. Finally, Watershed Asset Management L.L.C. increased its stake in shares of Bloomin’ Brands by 7.2% in the fourth quarter. Watershed Asset Management L.L.C. now owns 11,207 shares of the restaurant operator’s stock worth $315,000 after purchasing an additional 756 shares in the last quarter.

Bloomin’ Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a $0.24 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.96 annualized dividend and a yield of 3.72%. Bloomin’ Brands’s payout ratio is presently 37.94%.

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.