Bloomin’ Brands, Inc. (NASDAQ:BLMN) Expected to Announce Quarterly Sales of $861.67 Million

Wall Street analysts expect that Bloomin’ Brands, Inc. (NASDAQ:BLMN) will post sales of $861.67 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Bloomin’ Brands’ earnings, with the highest sales estimate coming in at $910.50 million and the lowest estimate coming in at $808.20 million. Bloomin’ Brands posted sales of $1.02 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 15.5%. The company is expected to issue its next earnings report on Tuesday, February 16th.

According to Zacks, analysts expect that Bloomin’ Brands will report full-year sales of $3.22 billion for the current fiscal year, with estimates ranging from $3.17 billion to $3.27 billion. For the next year, analysts anticipate that the business will post sales of $3.75 billion, with estimates ranging from $3.62 billion to $3.91 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Bloomin’ Brands.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings results on Friday, October 23rd. The restaurant operator reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.20. Bloomin’ Brands had a negative return on equity of 39.30% and a negative net margin of 3.45%. The business had revenue of $771.30 million for the quarter, compared to analyst estimates of $752.87 million. During the same quarter in the prior year, the company posted $0.10 EPS. The company’s quarterly revenue was down 20.2% on a year-over-year basis.

Several brokerages have recently commented on BLMN. BMO Capital Markets raised Bloomin’ Brands from a “market perform” rating to an “outperform” rating and upped their price target for the company from $17.00 to $22.00 in a research note on Monday, November 16th. Credit Suisse Group increased their target price on Bloomin’ Brands from $12.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, October 26th. Raymond James initiated coverage on Bloomin’ Brands in a research note on Thursday, December 17th. They set a “buy” rating and a $24.00 target price on the stock. Morgan Stanley increased their target price on Bloomin’ Brands from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, October 26th. Finally, Loop Capital increased their target price on Bloomin’ Brands from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, October 27th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $17.00.

Shares of Bloomin’ Brands stock traded down $0.28 during trading hours on Wednesday, hitting $20.68. The company’s stock had a trading volume of 1,585,425 shares, compared to its average volume of 2,374,162. Bloomin’ Brands has a twelve month low of $4.54 and a twelve month high of $23.65. The firm has a fifty day moving average of $18.78 and a 200-day moving average of $15.21. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -15.09 and a beta of 1.97. The company has a debt-to-equity ratio of 88.59, a quick ratio of 0.29 and a current ratio of 0.36.

In other Bloomin’ Brands news, Director Elizabeth A. Smith sold 250,000 shares of Bloomin’ Brands stock in a transaction that occurred on Tuesday, November 17th. The stock was sold at an average price of $16.81, for a total value of $4,202,500.00. Also, Director Elizabeth A. Smith sold 150,000 shares of Bloomin’ Brands stock in a transaction that occurred on Monday, January 4th. The shares were sold at an average price of $18.41, for a total value of $2,761,500.00. Corporate insiders own 4.39% of the company’s stock.

Several hedge funds have recently made changes to their positions in the business. Xcel Wealth Management LLC grew its stake in shares of Bloomin’ Brands by 14.6% in the 4th quarter. Xcel Wealth Management LLC now owns 397,266 shares of the restaurant operator’s stock valued at $7,714,000 after purchasing an additional 50,635 shares during the last quarter. Huntington National Bank acquired a new stake in shares of Bloomin’ Brands in the 4th quarter valued at approximately $27,000. King Street Capital Management L.P. acquired a new stake in shares of Bloomin’ Brands in the 3rd quarter valued at approximately $3,054,000. Sei Investments Co. lifted its holdings in shares of Bloomin’ Brands by 14.1% in the 3rd quarter. Sei Investments Co. now owns 469,791 shares of the restaurant operator’s stock valued at $7,175,000 after buying an additional 58,034 shares during the period. Finally, IHT Wealth Management LLC lifted its holdings in shares of Bloomin’ Brands by 0.9% in the 3rd quarter. IHT Wealth Management LLC now owns 86,218 shares of the restaurant operator’s stock valued at $1,317,000 after buying an additional 787 shares during the period. Institutional investors own 95.62% of the company’s stock.

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. 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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