Bloomin’ Brands, Inc. (NASDAQ:BLMN) Expected to Post Q3 2024 Earnings of $0.46 Per Share

Bloomin’ Brands, Inc. (NASDAQ:BLMN) – Investment analysts at William Blair increased their Q3 2024 earnings per share (EPS) estimates for Bloomin’ Brands in a report issued on Tuesday, May 7th. William Blair analyst S. Zackfia now forecasts that the restaurant operator will post earnings per share of $0.46 for the quarter, up from their prior forecast of $0.39. The consensus estimate for Bloomin’ Brands’ current full-year earnings is $2.55 per share. William Blair also issued estimates for Bloomin’ Brands’ Q4 2024 earnings at $0.83 EPS.

BLMN has been the subject of a number of other research reports. Barclays cut their price target on shares of Bloomin’ Brands from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday. Citigroup raised their price target on shares of Bloomin’ Brands from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. BMO Capital Markets cut their price target on shares of Bloomin’ Brands from $29.00 to $27.00 and set a “market perform” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. cut shares of Bloomin’ Brands from an “overweight” rating to a “neutral” rating and set a $26.00 price target for the company. in a research note on Tuesday, January 23rd. Finally, UBS Group cut their price target on shares of Bloomin’ Brands from $30.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $27.50.

Bloomin’ Brands Stock Down 3.8 %

BLMN stock opened at $22.99 on Thursday. Bloomin’ Brands has a twelve month low of $22.03 and a twelve month high of $30.13. The company has a market cap of $2.00 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 9.85 and a beta of 2.02. The business’s 50-day simple moving average is $27.38 and its 200 day simple moving average is $26.15. The company has a quick ratio of 0.27, a current ratio of 0.34 and a debt-to-equity ratio of 1.89.

Bloomin’ Brands (NASDAQ:BLMN) last released its earnings results on Tuesday, May 7th. The restaurant operator reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.05). Bloomin’ Brands had a return on equity of 73.67% and a net margin of 5.30%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the business earned $0.98 earnings per share. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BLMN. First Eagle Investment Management LLC grew its holdings in Bloomin’ Brands by 1.8% during the 1st quarter. First Eagle Investment Management LLC now owns 166,419 shares of the restaurant operator’s stock worth $4,773,000 after acquiring an additional 3,000 shares during the period. Foundry Partners LLC grew its holdings in Bloomin’ Brands by 22.0% during the 1st quarter. Foundry Partners LLC now owns 244,218 shares of the restaurant operator’s stock worth $7,004,000 after acquiring an additional 43,962 shares during the period. Entropy Technologies LP acquired a new stake in Bloomin’ Brands during the 1st quarter worth $466,000. ProShare Advisors LLC grew its holdings in Bloomin’ Brands by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 17,657 shares of the restaurant operator’s stock worth $506,000 after acquiring an additional 1,216 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Bloomin’ Brands by 3.7% during the 1st quarter. Russell Investments Group Ltd. now owns 267,338 shares of the restaurant operator’s stock worth $7,667,000 after acquiring an additional 9,658 shares during the period.

Bloomin’ Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Friday, May 17th. Bloomin’ Brands’s dividend payout ratio (DPR) is presently 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.