Bloomin’ Brands (NASDAQ:BLMN) Releases Earnings Results, Meets Expectations

Bloomin’ Brands (NASDAQ:BLMN) announced its earnings results on Wednesday. The restaurant operator reported $0.10 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.10, reports. Bloomin’ Brands had a net margin of 2.62% and a return on equity of 105.54%. The firm had revenue of $967.14 million for the quarter, compared to analysts’ expectations of $967.04 million. During the same quarter in the previous year, the business posted $0.08 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. Bloomin’ Brands updated its FY19 guidance to $1.53-1.61 EPS.

BLMN opened at $23.20 on Friday. The stock has a 50-day moving average price of $19.36 and a 200-day moving average price of $18.71. The company has a debt-to-equity ratio of 15.18, a current ratio of 0.30 and a quick ratio of 0.21. The firm has a market cap of $1.82 billion, a PE ratio of 15.47, a P/E/G ratio of 1.40 and a beta of 0.31. Bloomin’ Brands has a 1 year low of $15.12 and a 1 year high of $23.53.

The business also recently declared a dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be given a $0.10 dividend. The ex-dividend date is Friday, November 15th. This is a positive change from Bloomin’ Brands’s previous dividend of $0.06. Bloomin’ Brands’s payout ratio is currently 26.67%.

A number of brokerages have recently commented on BLMN. Loop Capital began coverage on shares of Bloomin’ Brands in a report on Monday, July 22nd. They set a “buy” rating and a $22.00 target price on the stock. MKM Partners boosted their target price on shares of Bloomin’ Brands from $20.00 to $26.00 and gave the company a “buy” rating in a report on Thursday. Barclays dropped their target price on shares of Bloomin’ Brands from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. BMO Capital Markets boosted their target price on shares of Bloomin’ Brands from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Thursday. Finally, ValuEngine raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Bloomin’ Brands currently has an average rating of “Hold” and a consensus target price of $21.80.

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.

Further Reading: Equity Income

Earnings History for Bloomin` Brands (NASDAQ:BLMN)

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