Bloomin' Brands, Inc. to Post Q2 2024 Earnings of $0.61 Per Share, William Blair Forecasts (NASDAQ:BLMN)

Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) - Equities research analysts at William Blair raised their Q2 2024 earnings estimates for Bloomin' Brands in a research report issued on Wednesday, April 24th. William Blair analyst S. Zackfia now forecasts that the restaurant operator will post earnings of $0.61 per share for the quarter, up from their prior estimate of $0.60. The consensus estimate for Bloomin' Brands' current full-year earnings is $2.55 per share. William Blair also issued estimates for Bloomin' Brands' FY2024 earnings at $2.65 EPS and FY2025 earnings at $2.87 EPS.

Several other research firms have also weighed in on BLMN. Raymond James boosted their target price on shares of Bloomin' Brands from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Wednesday, January 3rd. Citigroup boosted their price target 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. JPMorgan Chase & Co. downgraded shares of Bloomin' Brands from an "overweight" rating to a "neutral" rating and set a $26.00 price target for the company. in a report on Tuesday, January 23rd. BMO Capital Markets boosted their price target on shares of Bloomin' Brands from $27.00 to $29.00 and gave the company a "market perform" rating in a report on Monday, February 26th. Finally, Barclays boosted their price target on shares of Bloomin' Brands from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Monday, February 26th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $27.90.

Bloomin' Brands Stock Performance

BLMN stock traded down $0.06 during trading on Friday, hitting $26.93. 962,775 shares of the company's stock traded hands, compared to its average volume of 1,292,821. 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 has a 52 week low of $22.03 and a 52 week high of $30.13. The stock has a fifty day moving average price of $27.76 and a two-hundred day moving average price of $26.04. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 10.40 and a beta of 2.00.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last released its earnings results on Friday, February 23rd. The restaurant operator reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.06. Bloomin' Brands had a net margin of 5.30% and a return on equity of 73.67%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The firm's revenue for the quarter was up 9.1% compared to the same quarter last year.

Bloomin' Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.56%. The ex-dividend date was Tuesday, March 5th. Bloomin' Brands's payout ratio is currently 37.94%.

Institutional Investors Weigh In On Bloomin' Brands

Institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its holdings in Bloomin' Brands by 683.2% in the third quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the restaurant operator's stock worth $31,000 after purchasing an additional 1,100 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Bloomin' Brands in the 3rd quarter valued at about $32,000. TFO Wealth Partners LLC lifted its holdings in Bloomin' Brands by 284,000.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,841 shares of the restaurant operator's stock valued at $80,000 after acquiring an additional 2,840 shares during the last quarter. CWM LLC lifted its holdings in Bloomin' Brands by 54.8% in the 3rd quarter. CWM LLC now owns 3,460 shares of the restaurant operator's stock valued at $85,000 after acquiring an additional 1,225 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in Bloomin' Brands by 23.5% in the 3rd quarter. Assetmark Inc. now owns 4,026 shares of the restaurant operator's stock valued at $99,000 after acquiring an additional 765 shares during the last quarter.

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.