Zacks: Brokerages Expect Bloomin’ Brands Inc (BLMN) Will Post Earnings of $0.08 Per Share

Equities analysts expect Bloomin’ Brands Inc (NASDAQ:BLMN) to announce $0.08 earnings per share for the current quarter, according to Zacks. Five analysts have made estimates for Bloomin’ Brands’ earnings, with the highest EPS estimate coming in at $0.12 and the lowest estimate coming in at $0.05. Bloomin’ Brands reported earnings per share of $0.12 in the same quarter last year, which indicates a negative year over year growth rate of 33.3%. The business is scheduled to announce its next quarterly earnings results on Friday, November 2nd.

According to Zacks, analysts expect that Bloomin’ Brands will report full-year earnings of $1.43 per share for the current financial year, with EPS estimates ranging from $1.39 to $1.45. For the next fiscal year, analysts expect that the company will report earnings of $1.50 per share, with EPS estimates ranging from $1.38 to $1.54. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Bloomin’ Brands.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings results on Monday, July 30th. The restaurant operator reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.08. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.05 billion. Bloomin’ Brands had a return on equity of 215.75% and a net margin of 2.70%. Bloomin’ Brands’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.27 earnings per share.

A number of equities analysts have issued reports on BLMN shares. Goldman Sachs Group upgraded Bloomin’ Brands from a “sell” rating to a “neutral” rating and set a $18.00 price target on the stock in a research report on Tuesday, September 11th. Raymond James upgraded Bloomin’ Brands from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research report on Tuesday, July 17th. BidaskClub upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Saturday, September 8th. Bank of America lowered their price target on Bloomin’ Brands from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 31st. Finally, Zacks Investment Research downgraded Bloomin’ Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $22.67.

In other news, Chairman Elizabeth A. Smith sold 152,587 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $18.45, for a total value of $2,815,230.15. Following the transaction, the chairman now owns 394,152 shares in the company, valued at $7,272,104.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Peter Schmidt sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $19.17, for a total value of $67,095.00. Following the completion of the transaction, the executive vice president now owns 4,828 shares in the company, valued at approximately $92,552.76. The disclosure for this sale can be found here. Company insiders own 7.47% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Davidson Kempner Capital Management LP purchased a new position in shares of Bloomin’ Brands in the second quarter valued at approximately $13,065,000. Schwab Charles Investment Management Inc. lifted its position in shares of Bloomin’ Brands by 40.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,087,086 shares of the restaurant operator’s stock valued at $21,851,000 after acquiring an additional 312,480 shares in the last quarter. Chicago Equity Partners LLC increased its holdings in shares of Bloomin’ Brands by 8.4% in the second quarter. Chicago Equity Partners LLC now owns 96,165 shares of the restaurant operator’s stock valued at $1,933,000 after purchasing an additional 7,490 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Bloomin’ Brands by 48.3% in the first quarter. Royal Bank of Canada now owns 8,274 shares of the restaurant operator’s stock valued at $201,000 after purchasing an additional 2,693 shares during the last quarter. Finally, Rothschild Asset Management Inc. increased its holdings in shares of Bloomin’ Brands by 0.8% in the second quarter. Rothschild Asset Management Inc. now owns 1,454,071 shares of the restaurant operator’s stock valued at $29,227,000 after purchasing an additional 11,534 shares during the last quarter. Institutional investors and hedge funds own 97.27% of the company’s stock.

Shares of BLMN stock opened at $19.89 on Friday. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.53 and a beta of 0.32. The company has a current ratio of 0.39, a quick ratio of 0.32 and a debt-to-equity ratio of 12.18. Bloomin’ Brands has a 12-month low of $16.30 and a 12-month high of $25.00.

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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.

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