William Blair Brokers Boost Earnings Estimates for Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Bloomin’ Brands, Inc. (NASDAQ:BLMN) – Equities research analysts at William Blair raised their Q3 2024 earnings per share estimates for shares of Bloomin’ Brands in a research note issued on Tuesday, May 7th. William Blair analyst S. Zackfia now forecasts that the restaurant operator will post earnings per share of $0.46 for the quarter, up from their prior forecast of $0.39. The consensus estimate for Bloomin’ Brands’ current full-year earnings is $2.55 per share. William Blair also issued estimates for Bloomin’ Brands’ Q4 2024 earnings at $0.83 EPS.

Bloomin’ Brands (NASDAQ:BLMN) last issued 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 during the quarter, compared to analyst estimates of $1.20 billion. Bloomin’ Brands had a net margin of 5.30% and a return on equity of 73.67%. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 earnings per share.

Several other research analysts also recently weighed in on the stock. Citigroup upped their price target on shares of Bloomin’ Brands from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Barclays dropped their price target on Bloomin’ Brands from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday. BMO Capital Markets lowered their target price on shares of Bloomin’ Brands from $29.00 to $27.00 and set a “market perform” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. cut shares of Bloomin’ Brands from an “overweight” rating to a “neutral” rating and set a $26.00 target price for the company. in a research report on Tuesday, January 23rd. Finally, UBS Group lowered their price target on shares of Bloomin’ Brands from $30.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Bloomin’ Brands presently has an average rating of “Hold” and an average price target of $27.50.

Bloomin’ Brands Stock Performance

NASDAQ:BLMN opened at $23.89 on Thursday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.27 and a current ratio of 0.34. The stock has a market capitalization of $2.08 billion, a PE ratio of 9.44, a P/E/G ratio of 9.85 and a beta of 2.02. Bloomin’ Brands has a fifty-two week low of $22.03 and a fifty-two week high of $30.13. The company has a fifty day moving average of $27.46 and a two-hundred day moving average of $26.18.

Bloomin’ Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $0.96 annualized dividend and a dividend yield of 4.02%. Bloomin’ Brands’s dividend payout ratio is currently 37.94%.

Institutional Trading of Bloomin’ Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC boosted its holdings in Bloomin’ Brands by 1.6% during the 4th quarter. SummerHaven Investment Management LLC now owns 26,763 shares of the restaurant operator’s stock valued at $753,000 after acquiring an additional 417 shares during the period. Verdence Capital Advisors LLC boosted 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 valued at $301,000 after purchasing an additional 566 shares during the period. Nations Financial Group Inc. IA ADV grew its holdings 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 valued at $393,000 after purchasing an additional 671 shares in the last quarter. Rye Brook Capital LLC increased its stake 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 period. Finally, Watershed Asset Management L.L.C. lifted its holdings in Bloomin’ Brands by 7.2% during the 4th quarter. Watershed Asset Management L.L.C. now owns 11,207 shares of the restaurant operator’s stock worth $315,000 after buying an additional 756 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.