Bloomin’ Brands (NASDAQ:BLMN) Releases Earnings Results, Misses Estimates By $0.05 EPS

Bloomin’ Brands (NASDAQ:BLMN) posted its earnings results on Tuesday. The restaurant operator reported $0.70 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.05), Briefing.com reports. Bloomin’ Brands had a return on equity of 73.67% and a net margin of 5.30%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the business earned $0.98 EPS. Bloomin’ Brands’s quarterly revenue was down 4.0% compared to the same quarter last year. Bloomin’ Brands updated its Q2 guidance to $0.55-$0.60 EPS and its FY24 guidance to $2.51-$2.66 EPS.

Bloomin’ Brands Trading Down 4.0 %

BLMN opened at $23.96 on Wednesday. Bloomin’ Brands has a fifty-two week low of $22.03 and a fifty-two week high of $30.13. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 9.47, a price-to-earnings-growth ratio of 9.85 and a beta of 2.02. 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 firm has a 50 day simple moving average of $27.54 and a 200 day simple moving average of $26.19.

Bloomin’ Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Tuesday, March 5th. Bloomin’ Brands’s dividend payout ratio (DPR) is presently 37.94%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BLMN shares. Citigroup boosted their target price on shares of Bloomin’ Brands from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. BMO Capital Markets boosted their target price on Bloomin’ Brands from $27.00 to $29.00 and gave the stock a “market perform” rating in a report on Monday, February 26th. JPMorgan Chase & Co. cut Bloomin’ Brands from an “overweight” rating to a “neutral” rating and set a $26.00 price target for the company. in a report on Tuesday, January 23rd. Finally, Barclays boosted their price objective on Bloomin’ Brands from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, February 26th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.90.

Bloomin’ Brands Company Profile

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.