Bloomin’ Brands (NASDAQ:BLMN) Issues Q2 2024 Earnings Guidance

Bloomin’ Brands (NASDAQ:BLMNGet Free Report) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.550-0.600 for the period, compared to the consensus estimate of 0.690. The company issued revenue guidance of -. Bloomin’ Brands also updated its FY 2024 guidance to 2.510-2.660 EPS.

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Analysis on BLMN

Bloomin’ Brands Stock Up 0.3 %

Shares of BLMN traded up $0.06 during mid-day trading on Friday, reaching $23.05. The company had a trading volume of 1,312,481 shares, compared to its average volume of 1,338,888. Bloomin’ Brands has a 52 week low of $22.03 and a 52 week high of $30.13. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.27 and a current ratio of 0.34. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 9.11, a price-to-earnings-growth ratio of 9.85 and a beta of 2.02. The firm has a 50-day moving average price of $27.28 and a 200 day moving average price of $26.15.

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

Bloomin’ Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $0.96 dividend on an annualized basis and a yield of 4.16%. Bloomin’ Brands’s payout ratio is currently 37.94%.

About Bloomin’ Brands

(Get Free Report)

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.

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