Bloomin’ Brands, Inc. (NASDAQ:BLMN) Expected to Announce Quarterly Sales of $951.62 Million

Analysts expect Bloomin’ Brands, Inc. (NASDAQ:BLMN) to post sales of $951.62 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Bloomin’ Brands’ earnings. The lowest sales estimate is $925.07 million and the highest is $1.00 billion. Bloomin’ Brands reported sales of $1.01 billion during the same quarter last year, which would suggest a negative year over year growth rate of 5.8%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, April 29th.

On average, analysts expect that Bloomin’ Brands will report full year sales of $3.81 billion for the current year, with estimates ranging from $3.74 billion to $3.91 billion. For the next financial year, analysts forecast that the firm will report sales of $4.16 billion, with estimates ranging from $4.02 billion to $4.27 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Bloomin’ Brands.

Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Wednesday, February 17th. The restaurant operator reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.03. The business had revenue of $812.51 million during the quarter, compared to analyst estimates of $848.14 million. Bloomin’ Brands had a negative return on equity of 39.30% and a negative net margin of 3.45%.

A number of analysts recently issued reports on BLMN shares. JPMorgan Chase & Co. raised their price target on Bloomin’ Brands from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, April 12th. They noted that the move was a valuation call. TheStreet upgraded shares of Bloomin’ Brands from a “d+” rating to a “c-” rating in a report on Tuesday, March 16th. Wells Fargo & Company boosted their price target on shares of Bloomin’ Brands from $26.00 to $33.00 in a report on Thursday. The Goldman Sachs Group boosted their price objective on shares of Bloomin’ Brands from $20.00 to $22.00 and gave the stock a “sell” rating in a research note on Thursday, February 25th. Finally, BMO Capital Markets boosted their target price on shares of Bloomin’ Brands from $22.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, February 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $23.09.

In related news, Director Elizabeth A. Smith sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, February 22nd. The shares were sold at an average price of $26.13, for a total value of $3,919,500.00. Following the completion of the sale, the director now directly owns 662,204 shares in the company, valued at $17,303,390.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.39% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the business. Citigroup Inc. increased its holdings in shares of Bloomin’ Brands by 256.9% in the 4th quarter. Citigroup Inc. now owns 27,343 shares of the restaurant operator’s stock worth $531,000 after acquiring an additional 19,682 shares during the period. Zacks Investment Management acquired a new stake in Bloomin’ Brands during the 4th quarter valued at $6,036,000. Alpha DNA Investment Management LLC purchased a new position in shares of Bloomin’ Brands during the 4th quarter valued at $807,000. Hudson Bay Capital Management LP purchased a new position in shares of Bloomin’ Brands during the 4th quarter valued at $777,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Bloomin’ Brands by 15.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,445 shares of the restaurant operator’s stock worth $86,000 after purchasing an additional 600 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors.

BLMN stock traded up $0.36 during midday trading on Wednesday, hitting $28.52. The company’s stock had a trading volume of 1,094,412 shares, compared to its average volume of 2,097,525. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of -20.82 and a beta of 1.97. Bloomin’ Brands has a 12 month low of $8.36 and a 12 month high of $29.95. The company has a 50 day moving average of $27.56 and a two-hundred day moving average of $21.18. The company has a quick ratio of 0.29, a current ratio of 0.36 and a debt-to-equity ratio of 88.59.

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, a casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.

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