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

Bloomin’ Brands (NASDAQ:BLMN) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 1.720-1.820 for the period, compared to the consensus earnings per share estimate of 2.080. The company issued revenue guidance of -. Bloomin’ Brands also updated its Q4 guidance to $0.32-$0.42 EPS.

Bloomin’ Brands Stock Down 9.7 %

Bloomin’ Brands stock opened at $15.15 on Friday. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.35 and a quick ratio of 0.26. The company’s 50-day moving average is $16.42 and its 200-day moving average is $18.82. The firm has a market capitalization of $1.29 billion, a PE ratio of 58.27 and a beta of 2.04. Bloomin’ Brands has a fifty-two week low of $14.72 and a fifty-two week high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Bloomin’ Brands had a return on equity of 61.90% and a net margin of 0.70%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 earnings per share. Sell-side analysts anticipate that Bloomin’ Brands will post 2.07 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BLMN shares. Bank of America cut their price target on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Citigroup cut their target price on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Morgan Stanley cut their price objective on shares of 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. Finally, Barclays decreased their target price 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. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Bloomin’ Brands has a consensus rating of “Hold” and an average price target 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.