Bloomin’ Brands (NASDAQ:BLMN) Issues FY24 Earnings Guidance

Bloomin’ Brands (NASDAQ:BLMN) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.51-$2.66 for the period, compared to the consensus EPS estimate of $2.55. Bloomin’ Brands also updated its Q2 guidance to $0.55-$0.60 EPS.

Bloomin’ Brands Price Performance

Shares of NASDAQ:BLMN traded down $0.84 during trading hours on Tuesday, hitting $24.12. 1,628,915 shares of the company’s stock traded hands, compared to its average volume of 1,314,740. The company’s fifty day simple moving average is $27.60 and its two-hundred day simple moving average is $26.19. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 9.85 and a beta of 2.02. 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 has a 52 week low of $22.03 and a 52 week high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last released its earnings results on Friday, February 23rd. The restaurant operator reported $0.75 EPS for the quarter, beating the consensus estimate of $0.69 by $0.06. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.20 billion. Bloomin’ Brands had a net margin of 5.30% and a return on equity of 73.67%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 earnings per share. As a group, equities analysts anticipate that Bloomin’ Brands will post 2.55 EPS for the current fiscal year.

Bloomin’ Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a $0.24 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.96 dividend on an annualized basis and a yield of 3.98%. Bloomin’ Brands’s dividend payout ratio is currently 37.94%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BLMN shares. Citigroup boosted their target price on shares of Bloomin’ Brands from $25.00 to $29.00 and gave the company a neutral rating in a research note on Thursday, February 15th. BMO Capital Markets upped their price target on Bloomin’ Brands from $27.00 to $29.00 and gave the company a market perform rating in a research report on Monday, February 26th. Barclays raised their price objective on Bloomin’ Brands from $31.00 to $32.00 and gave the stock an overweight rating in a research report on Monday, February 26th. Finally, JPMorgan Chase & Co. downgraded Bloomin’ Brands from an overweight rating to a neutral rating and set a $26.00 target price on the stock. in a report on Tuesday, January 23rd. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Bloomin’ Brands presently has an average rating of Hold and a consensus price target of $27.90.

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.