Bloomin’ Brands (NASDAQ:BLMN) Releases FY24 Earnings Guidance

Bloomin’ Brands (NASDAQ:BLMN) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.51-$2.66 for the period, compared to the consensus EPS estimate of $2.55. Bloomin’ Brands also updated its Q2 guidance to $0.55-$0.60 EPS.

Bloomin’ Brands Trading Down 2.5 %

Shares of NASDAQ BLMN opened at $24.96 on Tuesday. Bloomin’ Brands has a 1-year low of $22.03 and a 1-year high of $30.13. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.34 and a quick ratio of 0.27. The business’s 50 day moving average is $27.60 and its two-hundred day moving average is $26.19. The stock has a market capitalization of $2.17 billion, a P/E ratio of 9.87, a PEG ratio of 9.85 and a beta of 2.02.

Bloomin’ Brands (NASDAQ:BLMN) last announced its earnings results on Friday, February 23rd. The restaurant operator reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.06. Bloomin’ Brands had a net margin of 5.30% and a return on equity of 73.67%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, research analysts expect that Bloomin’ Brands will post 2.55 EPS for the current year.

Bloomin’ Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend was Tuesday, March 5th. Bloomin’ Brands’s dividend payout ratio is currently 37.94%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BLMN shares. Barclays increased their target price on Bloomin’ Brands from $31.00 to $32.00 and gave the stock an overweight rating in a research note on Monday, February 26th. JPMorgan Chase & Co. lowered shares of Bloomin’ Brands from an overweight rating to a neutral rating and set a $26.00 price objective for the company. in a report on Tuesday, January 23rd. BMO Capital Markets upped their target price on shares of Bloomin’ Brands from $27.00 to $29.00 and gave the stock a market perform rating in a research note on Monday, February 26th. Finally, Citigroup boosted their price target on Bloomin’ Brands from $25.00 to $29.00 and gave the company a neutral rating in a report on Thursday, February 15th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $27.90.

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.