Bloomin’ Brands, Inc. to Post Q2 2024 Earnings of $0.61 Per Share, William Blair Forecasts (NASDAQ:BLMN)

Bloomin’ Brands, Inc. (NASDAQ:BLMN) – Equities research analysts at William Blair upped their Q2 2024 earnings per share estimates for Bloomin’ Brands in a research note issued on Wednesday, April 24th. William Blair analyst S. Zackfia now anticipates that the restaurant operator will post earnings per share of $0.61 for the quarter, up from their previous forecast of $0.60. The consensus estimate for Bloomin’ Brands’ current full-year earnings is $2.55 per share. William Blair also issued estimates for Bloomin’ Brands’ FY2024 earnings at $2.65 EPS and FY2025 earnings at $2.87 EPS.

Bloomin’ Brands (NASDAQ:BLMN) last posted its earnings results on Friday, February 23rd. The restaurant operator reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.06. Bloomin’ Brands had a return on equity of 73.67% and a net margin of 5.30%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company earned $0.68 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year.

Several other research firms have also weighed in on BLMN. Raymond James raised their target price on Bloomin’ Brands from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. BMO Capital Markets lifted their price objective on Bloomin’ Brands from $27.00 to $29.00 and gave the stock a “market perform” rating in a research note on Monday, February 26th. Barclays lifted their price objective on Bloomin’ Brands from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, February 26th. JPMorgan Chase & Co. lowered Bloomin’ Brands from an “overweight” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a research note on Tuesday, January 23rd. Finally, Citigroup lifted their price objective on Bloomin’ Brands from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.90.

Bloomin’ Brands Price Performance

NASDAQ BLMN opened at $26.93 on Friday. Bloomin’ Brands has a fifty-two week low of $22.03 and a fifty-two week high of $30.13. The stock’s 50-day moving average is $27.77 and its two-hundred day moving average is $26.07. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.34 and a quick ratio of 0.27. The firm has a market cap of $2.34 billion, a P/E ratio of 10.64, a price-to-earnings-growth ratio of 10.40 and a beta of 2.00.

Hedge Funds Weigh In On Bloomin’ Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLMN. EverSource Wealth Advisors LLC increased its stake in Bloomin’ Brands by 683.2% during the third quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the restaurant operator’s stock valued at $31,000 after acquiring an additional 1,100 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Bloomin’ Brands during the third quarter valued at about $32,000. TFO Wealth Partners LLC increased its stake in Bloomin’ Brands by 284,000.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,841 shares of the restaurant operator’s stock valued at $80,000 after acquiring an additional 2,840 shares during the period. CWM LLC increased its stake in Bloomin’ Brands by 54.8% during the third quarter. CWM LLC now owns 3,460 shares of the restaurant operator’s stock valued at $85,000 after acquiring an additional 1,225 shares during the period. Finally, Assetmark Inc. increased its stake in Bloomin’ Brands by 23.5% during the third quarter. Assetmark Inc. now owns 4,026 shares of the restaurant operator’s stock valued at $99,000 after acquiring an additional 765 shares during the period.

Bloomin’ Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.96 annualized dividend and a yield of 3.56%. Bloomin’ Brands’s dividend payout ratio is 37.94%.

About Bloomin’ Brands

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.