William Blair Comments on Bloomin’ Brands Inc.’s Q3 2016 Earnings (BLMN)
Bloomin’ Brands Inc. (NASDAQ:BLMN) – Analysts at William Blair decreased their Q3 2016 earnings per share (EPS) estimates for shares of Bloomin’ Brands in a research report issued on Tuesday. William Blair analyst S. Zackfia now anticipates that the brokerage will post earnings per share of $0.17 for the quarter, down from their prior estimate of $0.20. William Blair also issued estimates for Bloomin’ Brands’ Q4 2016 earnings at $0.39 EPS, FY2016 earnings at $1.33 EPS and FY2017 earnings at $1.53 EPS.
Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.30 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.30. The firm earned $1.07 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Bloomin’ Brands had a return on equity of 38.79% and a net margin of 1.38%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 EPS.
A number of other analysts have also weighed in on BLMN. Zacks Investment Research raised Bloomin’ Brands from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Wednesday, July 13th. Raymond James Financial Inc. reaffirmed an “outperform” rating and set a $21.00 price objective on shares of Bloomin’ Brands in a research report on Friday, July 15th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Bloomin’ Brands in a research report on Tuesday, August 2nd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $20.92.
Bloomin’ Brands (NASDAQ:BLMN) traded up 0.70% during mid-day trading on Wednesday, hitting $17.30. The stock had a trading volume of 448,368 shares. The firm has a 50-day moving average of $17.99 and a 200-day moving average of $18.41. The stock has a market cap of $1.96 billion, a P/E ratio of 35.74 and a beta of 0.84. Bloomin’ Brands has a 52-week low of $14.91 and a 52-week high of $19.89.
In other news, Director Chris Thomas Sullivan sold 79,150 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $19.05, for a total transaction of $1,507,807.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Kappitt sold 10,000 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $19.50, for a total transaction of $195,000.00. The disclosure for this sale can be found here. 6.68% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in BLMN. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Bloomin’ Brands during the second quarter valued at $118,000. BlackRock Japan Co. Ltd increased its stake in shares of Bloomin’ Brands by 1,373.0% in the second quarter. BlackRock Japan Co. Ltd now owns 6,702 shares of the company’s stock valued at $120,000 after buying an additional 6,247 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Bloomin’ Brands by 15.8% in the second quarter. Public Employees Retirement System of Ohio now owns 7,091 shares of the company’s stock valued at $127,000 after buying an additional 968 shares during the period. Seven Eight Capital LLC increased its stake in shares of Bloomin’ Brands by 573.4% in the first quarter. Seven Eight Capital LLC now owns 8,000 shares of the company’s stock valued at $135,000 after buying an additional 6,812 shares during the period. Finally, Acrospire Investment Management LLC increased its stake in shares of Bloomin’ Brands by 363.2% in the second quarter. Acrospire Investment Management LLC now owns 8,800 shares of the company’s stock valued at $157,000 after buying an additional 6,900 shares during the period. Institutional investors and hedge funds own 93.56% of the company’s stock.
Bloomin’ Brands Company Profile
Bloomin’ Brands, Inc (Bloomin’ Brands) is a holding company engaged in operating casual dining restaurants. The Company has a portfolio of four restaurant concepts: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar. The Company owns and operates approximately 1,340 restaurants and franchises over 170 restaurants across approximately 50 states, Puerto Rico, Guam and approximately 20 countries.
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