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

Bloomin’ Brands (NASDAQ:BLMN) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.510-2.660 for the period, compared to the consensus estimate of 2.550. The company issued revenue guidance of -. Bloomin’ Brands also updated its Q2 2024 guidance to 0.550-0.600 EPS.

Bloomin’ Brands Trading Down 1.0 %

BLMN stock traded down $0.24 on Wednesday, hitting $23.72. 190,632 shares of the company were exchanged, compared to its average volume of 1,313,607. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.34 and a quick ratio of 0.27. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 9.38, a price-to-earnings-growth ratio of 9.85 and a beta of 2.02. Bloomin’ Brands has a twelve month low of $22.03 and a twelve month high of $30.13. The business’s fifty day moving average is $27.54 and its two-hundred day moving average is $26.19.

Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Tuesday, May 7th. The restaurant operator reported $0.70 earnings per share 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 analysts’ expectations of $1.20 billion. Bloomin’ Brands had a return on equity of 73.67% and a net margin of 5.30%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the business posted $0.98 earnings per share. As a group, research analysts forecast that Bloomin’ Brands will post 2.55 earnings per share for the current year.

Bloomin’ Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend was Tuesday, March 5th. Bloomin’ Brands’s dividend payout ratio (DPR) is presently 37.94%.

Analysts Set New Price Targets

Several research firms have issued reports on BLMN. Barclays boosted their price objective on shares of Bloomin’ Brands from $31.00 to $32.00 and gave the stock an overweight rating in a research note on Monday, February 26th. UBS Group lowered their price target on Bloomin’ Brands from $30.00 to $26.00 and set a neutral rating for the company in a report on Wednesday. BMO Capital Markets boosted their price objective on Bloomin’ Brands from $27.00 to $29.00 and gave the stock a market perform rating in a research note on Monday, February 26th. JPMorgan Chase & Co. downgraded Bloomin’ Brands from an overweight rating to a neutral rating and set a $26.00 target price for the company. in a research report on Tuesday, January 23rd. Finally, Citigroup raised their target price on Bloomin’ Brands from $25.00 to $29.00 and gave the company a neutral rating in a report on Thursday, February 15th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $27.90.

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.