Wall Street brokerages expect that Bloomin’ Brands Inc (NASDAQ:BLMN) will report $997.52 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Bloomin’ Brands’ earnings, with estimates ranging from $984.60 million to $1.02 billion. Bloomin’ Brands posted sales of $1.09 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 8.5%. The firm is expected to issue its next quarterly earnings report on Thursday, February 28th.
According to Zacks, analysts expect that Bloomin’ Brands will report full year sales of $4.11 billion for the current fiscal year, with estimates ranging from $4.09 billion to $4.13 billion. For the next fiscal year, analysts forecast that the business will report sales of $4.20 billion, with estimates ranging from $4.16 billion to $4.23 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Bloomin’ Brands.
Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings data on Monday, October 29th. The restaurant operator reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Bloomin’ Brands had a return on equity of 196.28% and a net margin of 2.68%. The company had revenue of $965.00 million for the quarter, compared to the consensus estimate of $965.17 million. During the same period last year, the business posted $0.14 EPS. Bloomin’ Brands’s quarterly revenue was up 1.0% on a year-over-year basis.
In other news, Director Mindy F. Grossman sold 8,000 shares of the company’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $20.96, for a total transaction of $167,680.00. Following the sale, the director now owns 9,790 shares of the company’s stock, valued at $205,198.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donagh Herlihy sold 7,581 shares of the stock in a transaction on Friday, October 5th. The shares were sold at an average price of $20.00, for a total value of $151,620.00. The disclosure for this sale can be found here. 7.47% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc grew its holdings in shares of Bloomin’ Brands by 3.6% during the third quarter. Vanguard Group Inc now owns 11,808,062 shares of the restaurant operator’s stock worth $233,681,000 after purchasing an additional 404,855 shares during the last quarter. Vanguard Group Inc. increased its holdings in Bloomin’ Brands by 3.6% in the third quarter. Vanguard Group Inc. now owns 11,808,062 shares of the restaurant operator’s stock valued at $233,681,000 after buying an additional 404,855 shares in the last quarter. BlackRock Inc. increased its holdings in Bloomin’ Brands by 8.0% in the second quarter. BlackRock Inc. now owns 7,189,407 shares of the restaurant operator’s stock valued at $144,507,000 after buying an additional 532,417 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Bloomin’ Brands by 19.0% in the third quarter. Alliancebernstein L.P. now owns 6,104,179 shares of the restaurant operator’s stock valued at $120,802,000 after buying an additional 973,390 shares in the last quarter. Finally, LSV Asset Management increased its holdings in Bloomin’ Brands by 0.5% in the third quarter. LSV Asset Management now owns 2,936,420 shares of the restaurant operator’s stock valued at $58,111,000 after buying an additional 15,500 shares in the last quarter. 95.57% of the stock is currently owned by institutional investors.
Shares of Bloomin’ Brands stock traded down $0.33 during trading on Tuesday, reaching $18.30. The company’s stock had a trading volume of 1,133,494 shares, compared to its average volume of 1,110,431. The company has a debt-to-equity ratio of 18.69, a current ratio of 0.37 and a quick ratio of 0.29. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 1.33 and a beta of 0.22. Bloomin’ Brands has a 1-year low of $17.97 and a 1-year high of $25.00.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 14th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Tuesday, November 13th. Bloomin’ Brands’s dividend payout ratio (DPR) is 26.47%.
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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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