Bloomin’ Brands (NASDAQ:BLMN) Issues FY22 Earnings Guidance

Bloomin’ Brands (NASDAQ:BLMNGet Rating) updated its FY22 earnings guidance on Friday. The company provided EPS guidance of $2.45-$2.55 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.41. The company issued revenue guidance of $4.35-$4.40 billion, compared to the consensus revenue estimate of $4.34 billion.Bloomin’ Brands also updated its Q2 guidance to $0.60-$0.65 EPS.

BLMN has been the topic of a number of research reports. Zacks Investment Research raised Bloomin’ Brands from a strong sell rating to a hold rating in a research note on Thursday, February 24th. StockNews.com initiated coverage on Bloomin’ Brands in a research note on Thursday, March 31st. They issued a buy rating on the stock. Raymond James lifted their price objective on Bloomin’ Brands from $28.00 to $30.00 and gave the stock a strong-buy rating in a research note on Tuesday, February 22nd. Barclays lifted their price objective on Bloomin’ Brands from $26.00 to $29.00 in a research note on Tuesday, February 22nd. Finally, TheStreet raised Bloomin’ Brands from a c rating to a b- rating in a research note on Friday, February 18th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus target price of $30.58.

Shares of NASDAQ BLMN opened at $22.00 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 3.51. The business has a fifty day simple moving average of $21.80 and a two-hundred day simple moving average of $21.17. The firm has a market cap of $1.97 billion, a PE ratio of 11.00 and a beta of 1.92. Bloomin’ Brands has a twelve month low of $17.29 and a twelve month high of $32.81.

Bloomin’ Brands (NASDAQ:BLMNGet Rating) last issued its earnings results on Friday, February 18th. The restaurant operator reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.08. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. Bloomin’ Brands had a return on equity of 177.48% and a net margin of 5.23%. Bloomin’ Brands’s revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.02 EPS. On average, research analysts expect that Bloomin’ Brands will post 2.4 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 16th. Shareholders of record on Wednesday, March 2nd were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Tuesday, March 1st. Bloomin’ Brands’s dividend payout ratio (DPR) is presently 28.00%.

In other news, Director Elizabeth A. Smith sold 191,131 shares of the business’s stock in a transaction on Wednesday, February 23rd. The stock was sold at an average price of $24.14, for a total value of $4,613,902.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.85% of the company’s stock.

A number of large investors have recently made changes to their positions in BLMN. Janus Henderson Group PLC purchased a new stake in Bloomin’ Brands during the 3rd quarter valued at about $201,000. Barclays PLC boosted its position in Bloomin’ Brands by 0.5% during the fourth quarter. Barclays PLC now owns 431,514 shares of the restaurant operator’s stock worth $9,055,000 after purchasing an additional 2,338 shares in the last quarter. State Street Corp boosted its position in Bloomin’ Brands by 3.5% during the fourth quarter. State Street Corp now owns 2,978,842 shares of the restaurant operator’s stock worth $62,496,000 after purchasing an additional 99,886 shares in the last quarter. Credit Suisse AG boosted its position in Bloomin’ Brands by 14.9% during the fourth quarter. Credit Suisse AG now owns 61,627 shares of the restaurant operator’s stock worth $1,294,000 after purchasing an additional 8,008 shares in the last quarter. Finally, Millennium Management LLC boosted its position in Bloomin’ Brands by 191.5% during the fourth quarter. Millennium Management LLC now owns 1,020,672 shares of the restaurant operator’s stock worth $21,414,000 after purchasing an additional 670,587 shares in the last quarter.

About Bloomin’ Brands (Get Rating)

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.

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