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.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BLMN. 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 report on Wednesday. Citigroup boosted their target price 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. 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. UBS Group cut 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. Finally, Barclays decreased their target price on Bloomin’ Brands from $32.00 to $30.00 and set an overweight rating on the stock in a research report on Wednesday. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Bloomin’ Brands has an average rating of Hold and a consensus target price of $27.50.

Bloomin’ Brands Trading Up 0.3 %

NASDAQ BLMN traded up $0.08 on Friday, reaching $23.07. The stock had a trading volume of 59,305 shares, compared to its average volume of 1,324,890. 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 stock has a fifty day moving average price of $27.38 and a two-hundred day moving average price of $26.15. Bloomin’ Brands has a 12-month low of $22.03 and a 12-month high of $30.13. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 9.09, a P/E/G ratio of 9.85 and a beta of 2.02.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings data on Tuesday, May 7th. The restaurant operator reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.05). Bloomin’ Brands had a net margin of 5.30% and a return on equity of 73.67%. The firm 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. Bloomin’ Brands’s quarterly revenue was down 4.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Bloomin’ Brands will post 2.55 EPS for the current fiscal year.

Bloomin’ Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be given a $0.24 dividend. The ex-dividend date is Friday, May 17th. This represents a $0.96 annualized dividend and a yield of 4.16%. Bloomin’ Brands’s dividend 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.