Bloomin’ Brands (NASDAQ:BLMN) Issues Q2 2024 Earnings Guidance

Bloomin’ Brands (NASDAQ:BLMN) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.550-0.600 for the period, compared to the consensus estimate of 0.690. The company issued revenue guidance of -. Bloomin’ Brands also updated its FY 2024 guidance to 2.510-2.660 EPS.

Analysts Set New Price Targets

BLMN has been the topic of several recent analyst reports. Barclays boosted their target price on shares of 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 stock a market perform rating in a research report on Monday, February 26th. Citigroup raised 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. UBS Group lowered their target price on Bloomin’ Brands from $30.00 to $26.00 and set a neutral rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered Bloomin’ Brands from an overweight rating to a neutral rating and set a $26.00 price target for the company. in a report on Tuesday, January 23rd. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bloomin’ Brands currently has a consensus rating of Hold and a consensus target price of $27.90.

Bloomin’ Brands Trading Down 1.0 %

Bloomin’ Brands stock traded down $0.24 during mid-day trading on Wednesday, hitting $23.72. The stock had a trading volume of 190,632 shares, compared to its average volume of 1,313,607. The stock has a 50-day simple moving average of $27.54 and a two-hundred day simple moving average of $26.19. The company has a current ratio of 0.34, a quick ratio of 0.27 and a debt-to-equity ratio of 1.89. The stock has a market capitalization of $2.07 billion, a PE ratio of 9.38, a P/E/G ratio of 9.85 and a beta of 2.02. Bloomin’ Brands has a 12 month low of $22.03 and a 12 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 the consensus estimate of $0.75 by ($0.05). The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Bloomin’ Brands had a net margin of 5.30% and a return on equity of 73.67%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period last year, the business posted $0.98 EPS. As a group, sell-side analysts forecast that Bloomin’ Brands will post 2.55 EPS for the current year.

Bloomin’ Brands Announces Dividend

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

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.