William Blair Analysts Increase Earnings Estimates for Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Bloomin’ Brands, Inc. (NASDAQ:BLMN) – Investment analysts at William Blair raised their Q1 2024 earnings per share (EPS) estimates for Bloomin’ Brands in a research note issued to investors on Wednesday, April 24th. William Blair analyst S. Zackfia now forecasts that the restaurant operator will post earnings of $0.73 per share for the quarter, up from their previous forecast of $0.72. The consensus estimate for Bloomin’ Brands’ current full-year earnings is $2.55 per share.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly 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. The firm had revenue of $1.19 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 company’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share.

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

Bloomin’ Brands Stock Performance

Shares of NASDAQ:BLMN opened at $26.93 on Monday. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 10.36 and a beta of 2.00. Bloomin’ Brands has a 52 week low of $22.03 and a 52 week high of $30.13. The company has a quick ratio of 0.27, a current ratio of 0.34 and a debt-to-equity ratio of 1.89. The firm has a 50 day moving average of $27.77 and a 200 day moving average of $26.10.

Bloomin’ Brands Announces Dividend

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

Hedge Funds Weigh In On Bloomin’ Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in shares of Bloomin’ Brands by 364.4% in the 3rd quarter. FMR LLC now owns 494,338 shares of the restaurant operator’s stock valued at $12,156,000 after purchasing an additional 387,896 shares in the last quarter. BW Gestao de Investimentos Ltda. acquired a new stake in shares of Bloomin’ Brands in the 3rd quarter valued at $7,812,000. Norges Bank acquired a new stake in shares of Bloomin’ Brands in the 4th quarter valued at $8,313,000. Heartland Advisors Inc. acquired a new stake in shares of Bloomin’ Brands in the 4th quarter valued at $7,452,000. Finally, Verition Fund Management LLC raised its holdings in shares of Bloomin’ Brands by 1,763.3% in the 4th quarter. Verition Fund Management LLC now owns 218,496 shares of the restaurant operator’s stock valued at $6,151,000 after purchasing an additional 206,770 shares in the last quarter.

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.