Bloomin’ Brands (NASDAQ:BLMN) Releases FY 2024 Earnings Guidance

Bloomin’ Brands (NASDAQ:BLMN) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 1.720-1.820 for the period, compared to the consensus estimate of 2.080. The company issued revenue guidance of -. Bloomin’ Brands also updated its Q4 2024 guidance to 0.320-0.420 EPS.

Bloomin’ Brands Trading Down 1.2 %

Shares of BLMN stock opened at $16.78 on Friday. The stock has a market cap of $1.43 billion, a P/E ratio of 64.54 and a beta of 2.04. The company has a quick ratio of 0.26, a current ratio of 0.35 and a debt-to-equity ratio of 3.46. Bloomin’ Brands has a fifty-two week low of $15.14 and a fifty-two week high of $30.13. The business has a fifty day simple moving average of $16.47 and a 200-day simple moving average of $18.96.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.07). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.13 billion. Bloomin’ Brands had a return on equity of 61.90% and a net margin of 0.70%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 earnings per share. On average, analysts forecast that Bloomin’ Brands will post 2.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BLMN has been the subject of several analyst reports. Barclays cut their target price on shares of Bloomin’ Brands from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Citigroup cut their price objective on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. Bank of America decreased their target price on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft cut their price target on Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Finally, BMO Capital Markets decreased their price objective on Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $21.33.

Bloomin’ Brands Company Profile

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.