Bloomin’ Brands, Inc. to Post Q2 2024 Earnings of $0.61 Per Share, William Blair Forecasts (NASDAQ:BLMN)

Bloomin’ Brands, Inc. (NASDAQ:BLMN) – Stock analysts at William Blair upped their Q2 2024 earnings per share (EPS) estimates for Bloomin’ Brands in a report released on Wednesday, April 24th. William Blair analyst S. Zackfia now expects that the restaurant operator will post earnings of $0.61 per share for the quarter, up from their prior forecast of $0.60. 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 $2.65 EPS and FY2025 earnings at $2.87 EPS.

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

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

Bloomin’ Brands Stock Performance

Bloomin’ Brands stock opened at $26.93 on Friday. The firm has a market capitalization of $2.34 billion, a P/E ratio of 10.64, a PEG ratio of 10.40 and a beta of 2.00. The stock has a fifty day moving average price of $27.77 and a 200 day moving average price of $26.07. Bloomin’ Brands has a 52 week low of $22.03 and a 52 week high of $30.13. The company has a current ratio of 0.34, a quick ratio of 0.27 and a debt-to-equity ratio of 1.89.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nations Financial Group Inc. IA ADV boosted its holdings in 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 valued at $393,000 after purchasing an additional 671 shares during the last quarter. Wesbanco Bank Inc. purchased a new position in Bloomin’ Brands in the first quarter valued at about $1,439,000. Allspring Global Investments Holdings LLC boosted its holdings in Bloomin’ Brands by 8.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 23,587 shares of the restaurant operator’s stock valued at $676,000 after purchasing an additional 1,915 shares during the last quarter. Annex Advisory Services LLC boosted its holdings in Bloomin’ Brands by 27.7% in the first quarter. Annex Advisory Services LLC now owns 295,261 shares of the restaurant operator’s stock valued at $8,468,000 after purchasing an additional 64,006 shares during the last quarter. Finally, Rye Brook Capital LLC lifted its holdings in Bloomin’ Brands by 0.3% during the 1st quarter. Rye Brook Capital LLC now owns 247,700 shares of the restaurant operator’s stock worth $7,104,000 after buying an additional 700 shares during the last quarter.

Bloomin’ Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Tuesday, March 5th. Bloomin’ Brands’s dividend payout ratio is currently 37.94%.

Bloomin’ Brands Company Profile

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.