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

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

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

Bloomin’ Brands Stock Performance

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

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

Bloomin’ Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a $0.24 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.96 annualized dividend and a dividend yield of 3.72%. Bloomin’ Brands’s dividend payout ratio (DPR) is currently 37.94%.

Institutional Investors Weigh In On Bloomin’ Brands

Institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its stake in shares of Bloomin’ Brands by 683.2% during the third quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 1,100 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Bloomin’ Brands during the third quarter worth about $32,000. TFO Wealth Partners LLC lifted its holdings 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 worth $80,000 after acquiring an additional 2,840 shares in the last quarter. CWM LLC lifted its holdings in Bloomin’ Brands by 54.8% during the third quarter. CWM LLC now owns 3,460 shares of the restaurant operator’s stock worth $85,000 after acquiring an additional 1,225 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in Bloomin’ Brands by 23.5% during the third quarter. Assetmark Inc. now owns 4,026 shares of the restaurant operator’s stock worth $99,000 after acquiring an additional 765 shares in the last quarter.

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.