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

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

Analyst Ratings Changes

BLMN has been the subject of several recent research reports. BMO Capital Markets dropped 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 research report on Wednesday. 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. JPMorgan Chase & Co. cut Bloomin' Brands from an overweight rating to a neutral rating and set a $26.00 price objective for the company. in a report on Tuesday, January 23rd. Barclays dropped their target price on shares of Bloomin' Brands from $32.00 to $30.00 and set an overweight rating for the company in a research report on Wednesday. Finally, 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 research report on Thursday, February 15th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $27.50.

Bloomin' Brands Stock Down 0.3 %

NASDAQ BLMN traded down $0.07 during trading hours on Wednesday, reaching $23.89. 1,849,574 shares of the company's stock were exchanged, compared to its average volume of 1,333,280. The company has a market capitalization of $2.08 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 has a one year low of $22.03 and a one year 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's 50-day moving average is $27.46 and its two-hundred day moving average is $26.18.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Bloomin' Brands had a net margin of 5.30% and a return on equity of 73.67%. The business's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. On average, 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. Stockholders of record on Monday, May 20th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $0.96 annualized dividend and a dividend yield of 4.02%. Bloomin' Brands's dividend payout ratio is currently 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.