Bloomin’ Brands, Inc. (NASDAQ:BLMN) Expected to Announce Quarterly Sales of $1.11 Billion

Equities research analysts expect Bloomin’ Brands, Inc. (NASDAQ:BLMNGet Rating) to report $1.11 billion in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Bloomin’ Brands’ earnings. The lowest sales estimate is $1.10 billion and the highest is $1.11 billion. Bloomin’ Brands posted sales of $1.08 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 2.8%. The business is scheduled to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Bloomin’ Brands will report full-year sales of $4.40 billion for the current financial year, with estimates ranging from $4.38 billion to $4.45 billion. For the next year, analysts expect that the company will report sales of $4.62 billion, with estimates ranging from $4.52 billion to $4.69 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Bloomin’ Brands.

Bloomin’ Brands (NASDAQ:BLMNGet Rating) last issued its quarterly earnings results on Friday, April 29th. The restaurant operator reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Bloomin’ Brands had a return on equity of 131.48% and a net margin of 5.20%. Bloomin’ Brands’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.72 earnings per share.

A number of research analysts recently commented on BLMN shares. Morgan Stanley reduced their price target on Bloomin’ Brands from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, April 14th. Citigroup initiated coverage on Bloomin’ Brands in a report on Tuesday, April 12th. They set a “neutral” rating and a $24.00 target price on the stock. StockNews.com downgraded Bloomin’ Brands from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. Zacks Investment Research raised Bloomin’ Brands from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Wednesday, May 4th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $36.00 target price on shares of Bloomin’ Brands in a report on Wednesday, April 13th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $28.82.

Shares of BLMN opened at $21.09 on Wednesday. The company has a market capitalization of $1.87 billion, a P/E ratio of 10.04 and a beta of 1.79. Bloomin’ Brands has a one year low of $17.29 and a one year high of $30.40. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.28 and a current ratio of 0.29. The stock has a 50-day moving average price of $21.45 and a 200 day moving average price of $21.10.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 25th. Investors of record on Wednesday, May 11th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Tuesday, May 10th. Bloomin’ Brands’s dividend payout ratio is currently 26.67%.

In related news, Director Elizabeth A. Smith sold 191,131 shares of the firm’s stock in a transaction that occurred 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 legal filing with the SEC, which is available through this link. 4.85% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. increased its position in shares of Bloomin’ Brands by 421.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 782 shares of the restaurant operator’s stock valued at $26,000 after purchasing an additional 632 shares during the period. CWM LLC increased its position in shares of Bloomin’ Brands by 149.3% during the 1st quarter. CWM LLC now owns 1,244 shares of the restaurant operator’s stock valued at $27,000 after purchasing an additional 745 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Bloomin’ Brands during the 4th quarter valued at $48,000. Patriot Financial Group Insurance Agency LLC increased its position in shares of Bloomin’ Brands by 32.5% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 2,550 shares of the restaurant operator’s stock valued at $64,000 after purchasing an additional 625 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Bloomin’ Brands during the 4th quarter valued at $69,000.

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

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