Bloomin’ Brands (NASDAQ:BLMN) Updates Q2 Earnings Guidance

Bloomin’ Brands (NASDAQ:BLMN) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.55-$0.60 for the period, compared to the consensus EPS estimate of $0.69. Bloomin’ Brands also updated its FY24 guidance to $2.51-$2.66 EPS.

Bloomin’ Brands Stock Performance

BLMN stock traded down $0.84 during midday trading on Tuesday, hitting $24.12. The company’s stock had a trading volume of 1,628,915 shares, compared to its average volume of 1,314,740. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 9.85 and a beta of 2.02. The company has a quick ratio of 0.27, a current ratio of 0.34 and a debt-to-equity ratio of 1.89. The stock’s 50-day moving average price is $27.60 and its 200 day moving average price is $26.19. Bloomin’ Brands has a 1 year low of $22.03 and a 1 year high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings results on Friday, February 23rd. The restaurant operator reported $0.75 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business posted $0.68 EPS. Bloomin’ Brands’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities analysts forecast that Bloomin’ Brands will post 2.55 EPS for the current year.

Bloomin’ Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.98%. The ex-dividend date was Tuesday, March 5th. Bloomin’ Brands’s dividend payout ratio (DPR) is presently 37.94%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Bloomin’ Brands from $27.00 to $29.00 and gave the company a market perform rating in a research note on Monday, February 26th. Barclays upped their price target on Bloomin’ Brands from $31.00 to $32.00 and gave the company an overweight rating in a research report 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 research report on Tuesday, January 23rd. Finally, Citigroup boosted their price objective 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. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target 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.