Bloomin’ Brands (NASDAQ:BLMN) Releases FY24 Earnings Guidance

Bloomin’ Brands (NASDAQ:BLMN) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.51-$2.66 for the period, compared to the consensus EPS estimate of $2.55. Bloomin’ Brands also updated its Q2 guidance to $0.55-$0.60 EPS.

Analysts Set New Price Targets

BLMN has been the topic of a number of recent analyst reports. UBS Group lowered their target price on shares of Bloomin’ Brands from $30.00 to $26.00 and set a neutral rating on the stock in a research note on Wednesday. BMO Capital Markets dropped their price objective on shares of Bloomin’ Brands from $29.00 to $27.00 and set a market perform rating for the company in a report on Wednesday. Citigroup increased their target price on Bloomin’ Brands from $25.00 to $29.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Barclays cut their price objective on Bloomin’ Brands from $32.00 to $30.00 and set an overweight rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. cut Bloomin’ Brands from an overweight rating to a neutral rating and set a $26.00 price objective on the stock. in a report on Tuesday, January 23rd. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bloomin’ Brands currently has a consensus rating of Hold and a consensus target price of $27.50.

Bloomin’ Brands Stock Down 2.8 %

NASDAQ BLMN traded down $0.66 during trading hours on Thursday, reaching $23.23. 842,864 shares of the company’s stock traded hands, compared to its average volume of 1,327,431. The firm has a market cap of $2.02 billion, a PE ratio of 9.44, a PEG ratio of 9.85 and a beta of 2.02. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.34 and a quick ratio of 0.27. Bloomin’ Brands has a 52-week low of $22.03 and a 52-week high of $30.13. The firm has a 50-day simple moving average of $27.46 and a 200 day simple moving average of $26.18.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings results on Tuesday, May 7th. The restaurant operator reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.05). Bloomin’ Brands had a return on equity of 73.67% and a net margin of 5.30%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. Sell-side analysts anticipate that Bloomin’ Brands will post 2.55 EPS for the current fiscal year.

Bloomin’ Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.13%. The ex-dividend date is Friday, May 17th. Bloomin’ Brands’s dividend payout ratio is currently 37.94%.

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.