Bloomin’ Brands (NASDAQ:BLMN) Issues Q2 Earnings Guidance

Bloomin’ Brands (NASDAQ:BLMN) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.55-$0.60 for the period, compared to the consensus estimate of $0.69. Bloomin’ Brands also updated its FY24 guidance to $2.51-$2.66 EPS.

Analysts Set New Price Targets

Several brokerages recently weighed in on BLMN. JPMorgan Chase & Co. cut 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 report on Tuesday, January 23rd. Barclays decreased their price target on Bloomin’ Brands from $32.00 to $30.00 and set an overweight rating for the company in a research report on Wednesday. BMO Capital Markets cut their price target on Bloomin’ Brands from $29.00 to $27.00 and set a market perform rating for the company in a report on Wednesday. Citigroup raised their price target on Bloomin’ Brands from $25.00 to $29.00 and gave the stock a neutral rating in a report on Thursday, February 15th. Finally, UBS Group dropped their price objective on Bloomin’ Brands from $30.00 to $26.00 and set a neutral rating for the company in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Bloomin’ Brands presently has a consensus rating of Hold and a consensus price target of $27.50.

Bloomin’ Brands Price Performance

NASDAQ BLMN traded down $0.59 during trading hours on Thursday, reaching $23.30. 809,726 shares of the stock traded hands, compared to its average volume of 1,326,714. The stock has a 50 day simple moving average of $27.46 and a two-hundred day simple moving average of $26.18. Bloomin’ Brands has a 1 year low of $22.03 and a 1 year high of $30.13. 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 company has a market cap of $2.03 billion, a price-to-earnings ratio of 9.44, a price-to-earnings-growth ratio of 9.85 and a beta of 2.02.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings data on Tuesday, May 7th. The restaurant operator reported $0.70 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.05). Bloomin’ Brands had a return on equity of 73.67% and a net margin of 5.30%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the firm posted $0.98 EPS. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. On average, analysts predict that Bloomin’ Brands will post 2.55 EPS for the current fiscal year.

Bloomin’ Brands Dividend Announcement

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. The ex-dividend date is Friday, May 17th. This represents a $0.96 annualized dividend and a dividend yield of 4.12%. Bloomin’ Brands’s dividend payout ratio (DPR) 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.