Bloomin’ Brands (NASDAQ:BLMN) Releases FY 2024 Earnings Guidance

Bloomin’ Brands (NASDAQ:BLMN) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.510-2.660 for the period, compared to the consensus estimate of 2.550. The company issued revenue guidance of -. Bloomin’ Brands also updated its Q2 2024 guidance to 0.550-0.600 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Citigroup boosted their price objective on shares of Bloomin’ Brands from $25.00 to $29.00 and gave the company a neutral rating in a research report on Thursday, February 15th. Barclays upped their price objective on Bloomin’ Brands from $31.00 to $32.00 and gave the company an overweight rating in a research note on Monday, February 26th. 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 note on Monday, February 26th. UBS Group lowered their target price on Bloomin’ Brands from $30.00 to $26.00 and set a neutral rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. cut shares of 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. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $27.90.

Bloomin’ Brands Stock Down 1.0 %

BLMN stock traded down $0.24 during trading on Wednesday, reaching $23.72. 190,632 shares of the stock were exchanged, compared to its average volume of 1,313,607. The firm’s 50 day moving average is $27.54 and its 200 day moving average is $26.19. The firm has a market cap of $2.07 billion, a P/E ratio of 9.38, a price-to-earnings-growth ratio of 9.85 and a beta of 2.02. The company has a current ratio of 0.34, a quick ratio of 0.27 and a debt-to-equity ratio of 1.89. Bloomin’ Brands has a twelve month low of $22.03 and a twelve month high of $30.13.

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

Bloomin’ Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a $0.24 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.05%. Bloomin’ Brands’s dividend payout ratio is presently 37.94%.

About Bloomin’ Brands

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.