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.
Bloomin' Brands Stock Up 0.6 %
NASDAQ:BLMN opened at $23.36 on Monday. The stock's 50 day moving average is $18.61 and its 200 day moving average is $20.52. The company has a current ratio of 0.32, a quick ratio of 0.23 and a debt-to-equity ratio of 3.05. Bloomin' Brands has a 12 month low of $15.89 and a 12 month high of $27.69. The stock has a market cap of $2.09 billion, a PE ratio of 37.08 and a beta of 1.88.
Bloomin' Brands (NASDAQ:BLMN - Get Rating) last released its quarterly earnings data on Friday, July 29th. The restaurant operator reported $0.68 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the company posted $0.81 EPS. The company's revenue was up 4.4% compared to the same quarter last year. Research analysts predict that Bloomin' Brands will post 2.44 EPS for the current fiscal year.
Bloomin' Brands Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Tuesday, August 9th. Bloomin' Brands's payout ratio is 88.89%.
Analyst Upgrades and Downgrades
BLMN has been the topic of a number of analyst reports. TheStreet cut Bloomin' Brands from a "b-" rating to a "c" rating in a research report on Friday, July 29th. Citigroup lifted their price objective on Bloomin' Brands to $23.00 in a research report on Tuesday, August 9th. Barclays lowered their price objective on Bloomin' Brands from $29.00 to $26.00 in a research report on Thursday, June 9th. BMO Capital Markets lowered their price objective on Bloomin' Brands from $33.00 to $29.00 in a research report on Monday, August 1st. Finally, Morgan Stanley lifted their price objective on Bloomin' Brands from $21.00 to $22.00 and gave the company an "equal weight" rating in a research report on Monday, August 1st. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $27.80.
Insiders Place Their Bets
In other Bloomin' Brands news, EVP Kelly Lefferts sold 8,087 shares of Bloomin' Brands 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 owns 36,626 shares of the company's stock, valued at approximately $762,553.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.85% of the company's stock.