Bloomin’ Brands (NASDAQ:BLMN) Announces Quarterly Earnings Results

Bloomin’ Brands (NASDAQ:BLMN) posted its quarterly earnings results on Tuesday. The restaurant operator reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.05), Briefing.com reports. The company 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%. Bloomin’ Brands’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 EPS. Bloomin’ Brands updated its Q2 guidance to $0.55-$0.60 EPS and its FY24 guidance to $2.51-$2.66 EPS.

Bloomin’ Brands Price Performance

Bloomin’ Brands stock opened at $23.89 on Thursday. The stock has a market capitalization of $2.08 billion, a P/E ratio of 9.44, a P/E/G ratio of 9.85 and a beta of 2.02. Bloomin’ Brands has a 12-month low of $22.03 and a 12-month high of $30.13. 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 firm’s 50-day moving average is $27.46 and its two-hundred day moving average is $26.18.

Bloomin’ Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $0.96 dividend on an annualized basis and a yield of 4.02%. Bloomin’ Brands’s dividend payout ratio (DPR) is 37.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BLMN shares. BMO Capital Markets decreased their target price on Bloomin’ Brands from $29.00 to $27.00 and set a “market perform” rating for the company 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 target price for the company. in a research report on Tuesday, January 23rd. Barclays cut their price target on Bloomin’ Brands from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday. UBS Group decreased their price objective on Bloomin’ Brands from $30.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Citigroup lifted their target price on shares of 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.50.

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.