Bloomin’ Brands (NASDAQ:BLMN) Issues Earnings Results, Misses Estimates By $0.05 EPS

Bloomin’ Brands (NASDAQ:BLMN) released its quarterly earnings data on Tuesday. The restaurant operator reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.05), Briefing.com reports. The business had revenue of $1.20 billion during 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%. The business’s revenue was down 4.0% compared to the same quarter last year. During the same period last year, the company posted $0.98 earnings per share. Bloomin’ Brands updated its Q2 guidance to $0.55-$0.60 EPS and its FY24 guidance to $2.51-$2.66 EPS.

Bloomin’ Brands Stock Performance

NASDAQ:BLMN opened at $22.99 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. The stock has a 50-day simple moving average of $27.38 and a two-hundred day simple moving average of $26.15. The firm has a market capitalization of $2.00 billion, a PE ratio of 9.09, a P/E/G ratio of 9.85 and a beta of 2.02. Bloomin’ Brands has a 52-week low of $22.03 and a 52-week high of $30.13.

Bloomin’ Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors 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 dividend on an annualized basis and a yield of 4.18%. Bloomin’ Brands’s dividend payout ratio is currently 37.94%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. 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. UBS Group dropped their price target on shares of Bloomin’ Brands from $30.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. cut shares of Bloomin’ Brands from an “overweight” rating to a “neutral” rating and set a $26.00 price objective for the company. in a report on Tuesday, January 23rd. BMO Capital Markets lowered 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. Finally, Barclays cut their target price on shares of Bloomin’ Brands from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $27.50.

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.