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

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

Analyst Ratings Changes

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

Bloomin’ Brands Price Performance

Bloomin’ Brands stock opened at $24.96 on Tuesday. The company’s 50 day moving average price is $27.60 and its two-hundred day moving average price is $26.19. The company has a quick ratio of 0.27, a current ratio of 0.34 and a debt-to-equity ratio of 1.89. Bloomin’ Brands has a 52 week low of $22.03 and a 52 week high of $30.13. The stock has a market cap of $2.17 billion, a P/E ratio of 9.87, a P/E/G ratio of 9.85 and a beta of 2.02.

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

Bloomin’ Brands Announces Dividend

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

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.