Bloomin’ Brands (NASDAQ:BLMN) Issues Q2 Earnings Guidance

Bloomin’ Brands (NASDAQ:BLMN) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.55-$0.60 for the period, compared to the consensus estimate of $0.69. Bloomin’ Brands also updated its FY24 guidance to $2.51-$2.66 EPS.

Wall Street Analyst Weigh In

BLMN has been the topic of several analyst reports. BMO Capital Markets decreased their price target on Bloomin’ Brands from $29.00 to $27.00 and set a market perform rating on the stock in a research report on Wednesday. Citigroup increased their price objective on Bloomin’ Brands from $25.00 to $29.00 and gave the stock a neutral rating in a research report 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 target on the stock. in a research note on Tuesday, January 23rd. Barclays decreased their price objective on Bloomin’ Brands from $32.00 to $30.00 and set an overweight rating for the company in a report on Wednesday. Finally, UBS Group reduced their price target on Bloomin’ Brands from $30.00 to $26.00 and set a neutral rating for the company in a report on Wednesday. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Bloomin’ Brands presently has an average rating of Hold and a consensus target price of $27.50.

Bloomin’ Brands Stock Performance

Shares of NASDAQ BLMN traded down $0.07 during trading on Wednesday, hitting $23.89. The company had a trading volume of 1,849,574 shares, compared to its average volume of 1,326,785. Bloomin’ Brands has a 12 month low of $22.03 and a 12 month high of $30.13. The firm has a market capitalization of $2.08 billion, a P/E ratio of 9.48, a price-to-earnings-growth ratio of 9.85 and a beta of 2.02. The stock has a 50 day simple moving average of $27.54 and a 200 day simple moving average of $26.19. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.27 and a current ratio of 0.34.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings results on Tuesday, May 7th. The restaurant operator reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.05). Bloomin’ Brands had a return on equity of 73.67% and a net margin of 5.30%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, analysts anticipate that Bloomin’ Brands will post 2.55 earnings per share for the current year.

Bloomin’ Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, May 17th. This represents a $0.96 dividend on an annualized basis and a yield of 4.02%. Bloomin’ Brands’s dividend payout ratio (DPR) is presently 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.