Bloomin’ Brands (NASDAQ:BLMN) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Bloomin’ Brands (NASDAQ:BLMN) announced its earnings results on Friday. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02, Briefing.com reports. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Bloomin’ Brands had a net margin of 0.70% and a return on equity of 61.90%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS.

Bloomin’ Brands Stock Performance

Shares of NASDAQ BLMN traded down $1.63 during trading on Friday, reaching $15.15. 5,143,239 shares of the company traded hands, compared to its average volume of 1,485,407. The stock has a market cap of $1.29 billion, a P/E ratio of 58.27 and a beta of 2.04. The firm’s fifty day simple moving average is $16.42 and its 200 day simple moving average is $18.88. The company has a current ratio of 0.35, a quick ratio of 0.26 and a debt-to-equity ratio of 3.46. Bloomin’ Brands has a 12-month low of $14.72 and a 12-month high of $30.13.

Wall Street Analysts Forecast Growth

BLMN has been the subject of a number of analyst reports. Morgan Stanley lowered their price target on Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. StockNews.com upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft cut their target price on Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Barclays reduced their price target on Bloomin’ Brands from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Finally, Citigroup decreased 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. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.33.

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.