Zacks: Brokerages Anticipate Bloomin’ Brands, Inc. (NASDAQ:BLMN) to Announce $0.67 EPS

Wall Street analysts forecast that Bloomin’ Brands, Inc. (NASDAQ:BLMN) will post earnings of $0.67 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Bloomin’ Brands’ earnings, with the lowest EPS estimate coming in at $0.61 and the highest estimate coming in at $0.74. Bloomin’ Brands posted earnings of ($0.74) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 190.5%. The firm is expected to announce its next quarterly earnings results before the market opens on Friday, July 30th.

On average, analysts expect that Bloomin’ Brands will report full-year earnings of $2.20 per share for the current fiscal year, with EPS estimates ranging from $1.98 to $2.58. For the next financial year, analysts forecast that the firm will post earnings of $2.50 per share, with EPS estimates ranging from $2.23 to $2.86. Zacks’ EPS averages are an average based on a survey of analysts that that provide coverage for Bloomin’ Brands.

Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Wednesday, April 28th. The restaurant operator reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.40. Bloomin’ Brands had a negative net margin of 1.75% and a negative return on equity of 17.90%. The firm had revenue of $987.47 million during the quarter, compared to analysts’ expectations of $954.62 million.

A number of research firms have recently commented on BLMN. Barclays boosted their target price on shares of Bloomin’ Brands from $32.00 to $38.00 in a research note on Friday, April 30th. Gordon Haskett raised shares of Bloomin’ Brands from a “hold” rating to a “buy” rating in a research note on Friday, May 21st. JPMorgan Chase & Co. boosted their target price on shares of Bloomin’ Brands from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, April 12th. They noted that the move was a valuation call. Raymond James boosted their target price on shares of Bloomin’ Brands from $32.50 to $37.50 and gave the stock a “strong-buy” rating in a research note on Friday, April 30th. Finally, Wells Fargo & Company cut their target price on shares of Bloomin’ Brands from $37.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Bloomin’ Brands presently has a consensus rating of “Hold” and a consensus target price of $29.88.

In other Bloomin’ Brands news, COO Gregg Scarlett sold 135,929 shares of the business’s stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $30.73, for a total value of $4,177,098.17. Following the transaction, the chief operating officer now directly owns 65,189 shares in the company, valued at approximately $2,003,257.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.62% of the company’s stock.

A number of large investors have recently bought and sold shares of BLMN. State of Alaska Department of Revenue lifted its holdings in shares of Bloomin’ Brands by 3.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 56,033 shares of the restaurant operator’s stock worth $1,520,000 after acquiring an additional 1,690 shares during the last quarter. Schroder Investment Management Group purchased a new stake in shares of Bloomin’ Brands in the 1st quarter valued at approximately $820,000. Principal Financial Group Inc. increased its position in shares of Bloomin’ Brands by 11.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,309,561 shares of the restaurant operator’s stock valued at $35,423,000 after purchasing an additional 139,527 shares during the last quarter. Factorial Partners LLC increased its position in shares of Bloomin’ Brands by 1,037.9% in the 1st quarter. Factorial Partners LLC now owns 595,100 shares of the restaurant operator’s stock valued at $22,000,000 after purchasing an additional 542,800 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Bloomin’ Brands in the 1st quarter valued at approximately $221,000.

Shares of BLMN stock traded down $0.41 on Thursday, reaching $25.71. 62,214 shares of the company were exchanged, compared to its average volume of 1,352,401. The company has a market cap of $2.29 billion, a P/E ratio of -33.49, a price-to-earnings-growth ratio of 4.56 and a beta of 2.15. The firm has a 50-day moving average of $27.61. The company has a debt-to-equity ratio of 20.96, a quick ratio of 0.24 and a current ratio of 0.29. Bloomin’ Brands has a 1 year low of $10.23 and a 1 year high of $32.81.

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

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Earnings History and Estimates for Bloomin` Brands (NASDAQ:BLMN)

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