Wall Street brokerages expect Bloomin’ Brands (NASDAQ:BLMN) to report $0.59 earnings per share for the current quarter, Zacks reports. Six analysts have issued estimates for Bloomin’ Brands’ earnings, with estimates ranging from $0.55 to $0.68. Bloomin’ Brands reported earnings per share of $0.54 during the same quarter last year, which would indicate a positive year over year growth rate of 9.3%. The company is scheduled to report its next quarterly earnings report before the market opens on Thursday, April 26th.
According to Zacks, analysts expect that Bloomin’ Brands will report full year earnings of $1.42 per share for the current financial year, with EPS estimates ranging from $1.38 to $1.43. For the next year, analysts anticipate that the business will report earnings of $1.51 per share, with EPS estimates ranging from $1.46 to $1.55. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Bloomin’ Brands.
Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings data on Thursday, February 22nd. The restaurant operator reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Bloomin’ Brands had a return on equity of 133.73% and a net margin of 2.38%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the firm posted $0.31 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis.
A number of research firms have recently weighed in on BLMN. ValuEngine upgraded Bloomin’ Brands from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 3rd. BidaskClub upgraded Bloomin’ Brands from a “hold” rating to a “buy” rating in a research report on Wednesday, March 28th. BMO Capital Markets set a $27.00 target price on Bloomin’ Brands and gave the company a “buy” rating in a research report on Friday, February 23rd. Barclays upped their target price on Bloomin’ Brands from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, TheStreet upgraded Bloomin’ Brands from a “c” rating to a “b-” rating in a research report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Bloomin’ Brands currently has an average rating of “Hold” and an average price target of $22.78.
In other Bloomin’ Brands news, EVP Michael Kappitt sold 19,444 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $23.75, for a total value of $461,795.00. Following the completion of the transaction, the executive vice president now owns 29,437 shares of the company’s stock, valued at approximately $699,128.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gregg Scarlett sold 45,846 shares of the company’s stock in a transaction dated Thursday, March 29th. The stock was sold at an average price of $24.23, for a total value of $1,110,848.58. Following the completion of the transaction, the executive vice president now directly owns 46,595 shares of the company’s stock, valued at approximately $1,128,996.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,646,864 shares of company stock valued at $40,050,895. 7.47% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. California Public Employees Retirement System increased its holdings in Bloomin’ Brands by 17.9% in the 4th quarter. California Public Employees Retirement System now owns 106,467 shares of the restaurant operator’s stock worth $2,272,000 after purchasing an additional 16,195 shares in the last quarter. Maverick Capital Ltd. acquired a new position in Bloomin’ Brands in the 4th quarter worth about $14,435,000. Dimensional Fund Advisors LP increased its holdings in Bloomin’ Brands by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,960,065 shares of the restaurant operator’s stock worth $52,097,000 after purchasing an additional 23,110 shares in the last quarter. Jefferies Group LLC acquired a new position in Bloomin’ Brands in the 4th quarter worth about $366,000. Finally, Caxton Associates LP acquired a new position in Bloomin’ Brands in the 4th quarter worth about $3,201,000. 98.49% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ BLMN opened at $23.65 on Monday. The firm has a market capitalization of $2,198.79, a price-to-earnings ratio of 17.53, a PEG ratio of 1.71 and a beta of 0.38. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 22.07. Bloomin’ Brands has a one year low of $16.11 and a one year high of $25.00.
Bloomin’ Brands announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 22nd that allows the company to buyback $150.00 million in shares. This buyback authorization allows the restaurant operator to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
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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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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