Bloomin’ Brands, Inc. (NASDAQ:BLMN) Expected to Post Earnings of $0.17 Per Share
Wall Street brokerages expect Bloomin’ Brands, Inc. (NASDAQ:BLMN) to post earnings per share of $0.17 for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Bloomin’ Brands’ earnings. The highest EPS estimate is $0.19 and the lowest is $0.09. Bloomin’ Brands reported earnings of $0.20 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 15%. The firm is scheduled to announce its next quarterly earnings report on Friday, October 27th.
According to Zacks, analysts expect that Bloomin’ Brands will report full year earnings of $1.42 per share for the current year, with EPS estimates ranging from $1.40 to $1.44. For the next year, analysts expect that the company will post earnings of $1.48 per share, with EPS estimates ranging from $1.35 to $1.54. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Bloomin’ Brands.
Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Wednesday, July 26th. The restaurant operator reported $0.28 EPS for the quarter, hitting the consensus estimate of $0.28. Bloomin’ Brands had a net margin of 2.29% and a return on equity of 74.68%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm earned $0.30 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis.
Several research firms have recently weighed in on BLMN. BidaskClub downgraded Bloomin’ Brands from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Morgan Stanley lifted their target price on Bloomin’ Brands from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Friday, April 28th. Raymond James Financial, Inc. set a $24.00 target price on Bloomin’ Brands and gave the stock a “buy” rating in a research report on Thursday, July 27th. Wells Fargo & Company downgraded Bloomin’ Brands from an “outperform” rating to a “market perform” rating and set a $22.00 target price for the company. in a research report on Friday, May 19th. Finally, ValuEngine downgraded Bloomin’ Brands from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $20.86.
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Several institutional investors have recently made changes to their positions in BLMN. BlackRock Inc. raised its position in shares of Bloomin’ Brands by 36,253.0% in the first quarter. BlackRock Inc. now owns 7,091,374 shares of the restaurant operator’s stock valued at $139,913,000 after buying an additional 7,071,867 shares in the last quarter. RidgeWorth Capital Management LLC raised its position in shares of Bloomin’ Brands by 47.8% in the first quarter. RidgeWorth Capital Management LLC now owns 3,734,317 shares of the restaurant operator’s stock valued at $73,678,000 after buying an additional 1,207,202 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Bloomin’ Brands by 11.2% in the first quarter. Vanguard Group Inc. now owns 11,991,871 shares of the restaurant operator’s stock valued at $236,600,000 after buying an additional 1,203,463 shares in the last quarter. Earnest Partners LLC raised its position in shares of Bloomin’ Brands by 37.9% in the first quarter. Earnest Partners LLC now owns 3,911,225 shares of the restaurant operator’s stock valued at $77,168,000 after buying an additional 1,074,463 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Bloomin’ Brands by 94.8% in the second quarter. Prudential Financial Inc. now owns 1,124,340 shares of the restaurant operator’s stock valued at $23,870,000 after buying an additional 547,210 shares in the last quarter.
Shares of Bloomin’ Brands (BLMN) traded down 0.35% on Wednesday, hitting $17.28. 909,764 shares of the company traded hands. The firm’s 50 day moving average price is $20.27 and its 200-day moving average price is $19.44. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 19.16 and a beta of 0.72. Bloomin’ Brands has a 1-year low of $15.82 and a 1-year high of $22.16.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, August 7th. This represents a $0.32 annualized dividend and a dividend yield of 1.85%. Bloomin’ Brands’s dividend payout ratio is currently 35.56%.
Bloomin’ Brands declared that its Board of Directors has approved a stock repurchase plan on Wednesday, April 26th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the restaurant operator to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
About Bloomin’ Brands
Bloomin’ Brands, Inc is a holding company. The Company owns and operates casual, upscale casual and fine dining restaurants. The Company operates through two segments: U.S. and International. The U.S. segment includes all brands operating in the United States. The International segment includes brands operating outside the United States.
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