Bloomin’ Brands, Inc. (NASDAQ:BLMN) Expected to Announce Quarterly Sales of $1.04 Billion

Equities research analysts expect Bloomin’ Brands, Inc. (NASDAQ:BLMN) to report sales of $1.04 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Bloomin’ Brands’ earnings. The highest sales estimate is $1.05 billion and the lowest is $1.02 billion. Bloomin’ Brands posted sales of $771.26 million in the same quarter last year, which suggests a positive year over year growth rate of 34.8%. The firm is expected to issue its next earnings report on Friday, October 22nd.

According to Zacks, analysts expect that Bloomin’ Brands will report full-year sales of $4.21 billion for the current year, with estimates ranging from $4.18 billion to $4.23 billion. For the next financial year, analysts expect that the business will report sales of $4.49 billion, with estimates ranging from $4.40 billion to $4.64 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Bloomin’ Brands.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings data on Thursday, July 29th. The restaurant operator reported $0.81 EPS for the quarter, beating the consensus estimate of $0.67 by $0.14. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. Bloomin’ Brands had a return on equity of 251.96% and a net margin of 3.28%. The firm’s revenue for the quarter was up 86.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.74) EPS.

Several equities research analysts have recently commented on BLMN shares. Deutsche Bank Aktiengesellschaft raised Bloomin’ Brands from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Monday, August 2nd. The Goldman Sachs Group raised Bloomin’ Brands from a “sell” rating to a “neutral” rating and increased their price objective for the company from $26.00 to $28.00 in a report on Tuesday, August 3rd. Zacks Investment Research downgraded Bloomin’ Brands from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 14th. TheStreet downgraded Bloomin’ Brands from a “b-” rating to a “c” rating in a report on Monday, September 13th. Finally, Wells Fargo & Company cut their price target on Bloomin’ Brands from $37.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, July 20th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bloomin’ Brands has an average rating of “Buy” and a consensus target price of $32.54.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Snow Capital Management LP lifted its holdings in shares of Bloomin’ Brands by 13.7% during the second quarter. Snow Capital Management LP now owns 204,653 shares of the restaurant operator’s stock worth $5,554,000 after buying an additional 24,589 shares in the last quarter. Weld Capital Management LLC bought a new position in shares of Bloomin’ Brands in the second quarter worth $434,000. Zacks Investment Management increased its position in shares of Bloomin’ Brands by 17.0% in the second quarter. Zacks Investment Management now owns 369,278 shares of the restaurant operator’s stock worth $10,022,000 after purchasing an additional 53,752 shares during the period. Invesco Ltd. increased its position in shares of Bloomin’ Brands by 200.8% in the second quarter. Invesco Ltd. now owns 3,612,152 shares of the restaurant operator’s stock worth $98,034,000 after purchasing an additional 2,411,492 shares during the period. Finally, Maverick Capital Ltd. bought a new position in shares of Bloomin’ Brands in the second quarter worth $708,000.

Shares of NASDAQ BLMN traded down $0.53 during trading hours on Monday, hitting $24.88. The company had a trading volume of 1,156,207 shares, compared to its average volume of 1,872,525. The stock has a market capitalization of $2.22 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 3.55 and a beta of 2.17. The company has a quick ratio of 0.21, a current ratio of 0.27 and a debt-to-equity ratio of 5.49. Bloomin’ Brands has a 1-year low of $13.66 and a 1-year high of $32.81. The firm’s 50 day moving average is $25.75 and its 200-day moving average is $27.25.

Bloomin’ Brands Company Profile

Bloomin’ Brands, Inc engages in the acquisition, operation, design and development of restaurant concepts. It operates through the following segments: U.S. and International. The U.S. segment operates in USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.

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Earnings History and Estimates for Bloomin` Brands (NASDAQ:BLMN)

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