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. As of December 26, 2021, the company owned and operated 1,013 full-service restaurants and franchised 157 restaurants across 47 states; and 156 full-service restaurants and franchised 172 restaurants across 17 countries and Guam. The company was founded in 1988 and is based in Tampa, Florida.
Wall Street Analyst Weigh In
BLMN has been the subject of several recent research reports. Jefferies Financial Group reissued a "buy" rating and set a $36.00 price target on shares of Bloomin' Brands in a report on Wednesday, April 13th. Deutsche Bank Aktiengesellschaft dropped their price target on Bloomin' Brands from $30.00 to $28.00 in a research note on Monday, August 1st. Barclays dropped their price target on Bloomin' Brands from $29.00 to $26.00 in a research note on Thursday, June 9th. Citigroup increased their price target on Bloomin' Brands to $23.00 in a research note on Tuesday. Finally, TheStreet lowered Bloomin' Brands from a "b-" rating to a "c" rating in a research note on Friday, July 29th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $27.80.
Bloomin' Brands Trading Up 0.5 %
BLMN Stock traded up $0.11 during midday trading on Tuesday, reaching $21.48. 1,340,063 shares of the company traded hands, compared to its average volume of 1,944,485. Bloomin' Brands has a 52-week low of $15.89 and a 52-week high of $27.69. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.23 and a current ratio of 0.32. The business has a 50 day moving average of $18.47 and a 200-day moving average of $20.45. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 34.10 and a beta of 1.88.
Bloomin' Brands (NASDAQ:BLMN - Get Rating) last issued its quarterly earnings data on Friday, July 29th. The restaurant operator reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.05. Bloomin' Brands had a return on equity of 109.21% and a net margin of 1.76%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The company's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts expect that Bloomin' Brands will post 2.44 earnings per share for the current fiscal year.
Bloomin' Brands Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th will be issued a $0.14 dividend. The ex-dividend date is Tuesday, August 9th. This represents a $0.56 annualized dividend and a dividend yield of 2.61%. Bloomin' Brands's payout ratio is 88.89%.
Insider Transactions at Bloomin' Brands
In other news, EVP Kelly Lefferts sold 8,087 shares of the stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $20.82, for a total value of $168,371.34. Following the sale, the executive vice president now directly owns 36,626 shares in the company, valued at $762,553.32. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.85% of the company's stock.