Bloomin’ Brands (NASDAQ:BLMN) Releases FY24 Earnings Guidance

Bloomin’ Brands (NASDAQ:BLMN) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.51-$2.66 for the period, compared to the consensus earnings per share estimate of $2.55. Bloomin’ Brands also updated its Q2 guidance to $0.55-$0.60 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. BMO Capital Markets decreased their target price on shares of Bloomin’ Brands from $29.00 to $27.00 and set a market perform rating for the company in a research report on Wednesday. Barclays dropped their target price on Bloomin’ Brands from $32.00 to $30.00 and set an overweight rating on the stock in a research note on Wednesday. UBS Group decreased their price target on Bloomin’ Brands from $30.00 to $26.00 and set a neutral rating for the company in a research note on Wednesday. Citigroup upped their price objective on shares of Bloomin’ Brands from $25.00 to $29.00 and gave the company a neutral rating in a report on Thursday, February 15th. Finally, 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 research note on Tuesday, January 23rd. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $27.50.

Bloomin’ Brands Trading Down 0.3 %

NASDAQ:BLMN traded down $0.07 on Wednesday, reaching $23.89. The company’s stock had a trading volume of 1,849,574 shares, compared to its average volume of 1,326,785. Bloomin’ Brands has a 12-month low of $22.03 and a 12-month high of $30.13. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 9.48, a price-to-earnings-growth ratio of 9.85 and a beta of 2.02. The stock has a 50 day moving average price of $27.54 and a 200 day moving average price of $26.19. 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 announced its earnings results on Tuesday, May 7th. The restaurant operator reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.05). The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Bloomin’ Brands had a net margin of 5.30% and a return on equity of 73.67%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. On average, equities analysts anticipate that Bloomin’ Brands will post 2.55 EPS for the current fiscal year.

Bloomin’ Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Friday, May 17th. Bloomin’ Brands’s payout ratio is presently 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.