Brokerages Anticipate Bloomin’ Brands, Inc. (BLMN) Will Post Quarterly Sales of $944.44 Million
Brokerages predict that Bloomin’ Brands, Inc. (NASDAQ:BLMN) will report $944.44 million in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Bloomin’ Brands’ earnings, with estimates ranging from $934.50 million to $956.57 million. Bloomin’ Brands posted sales of $1.01 billion in the same quarter last year, which suggests a negative year over year growth rate of 6.5%. The business is scheduled to report its next earnings results on Friday, October 27th.
According to Zacks, analysts expect that Bloomin’ Brands will report full-year sales of $944.44 million for the current fiscal year, with estimates ranging from $4.13 billion to $4.24 billion. For the next fiscal year, analysts expect that the business will report sales of $4.16 billion per share, with estimates ranging from $4.09 billion to $4.25 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Bloomin’ Brands.
Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Wednesday, July 26th. The restaurant operator reported $0.28 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.28. Bloomin’ Brands had a net margin of 2.29% and a return on equity of 74.68%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year.
A number of research analysts have weighed in on the stock. TheStreet raised shares of Bloomin’ Brands from a “c” rating to a “b” rating in a research note on Wednesday, April 26th. BidaskClub lowered shares of Bloomin’ Brands from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Raymond James Financial, Inc. set a $24.00 price target on shares of Bloomin’ Brands and gave the company a “buy” rating in a research note on Thursday, July 27th. Zacks Investment Research raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Finally, Deutsche Bank AG lifted their price target on shares of Bloomin’ Brands from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $20.86.
Several hedge funds have recently bought and sold shares of BLMN. Vanguard Group Inc. increased its stake in Bloomin’ Brands by 11.2% in the first quarter. Vanguard Group Inc. now owns 11,991,871 shares of the restaurant operator’s stock worth $236,600,000 after buying an additional 1,203,463 shares during the period. BlackRock Inc. increased its stake in Bloomin’ Brands by 36,253.0% in the first quarter. BlackRock Inc. now owns 7,091,374 shares of the restaurant operator’s stock worth $139,913,000 after buying an additional 7,071,867 shares during the period. Earnest Partners LLC increased its stake in Bloomin’ Brands by 37.9% in the first quarter. Earnest Partners LLC now owns 3,911,225 shares of the restaurant operator’s stock worth $77,168,000 after buying an additional 1,074,463 shares during the period. RidgeWorth Capital Management LLC increased its stake in 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 worth $73,678,000 after buying an additional 1,207,202 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Bloomin’ Brands by 3.1% in the first quarter. JPMorgan Chase & Co. now owns 2,394,419 shares of the restaurant operator’s stock worth $47,242,000 after buying an additional 71,063 shares during the period.
Shares of Bloomin’ Brands (BLMN) opened at 17.31 on Friday. The company’s 50 day moving average is $19.87 and its 200-day moving average is $19.45. Bloomin’ Brands has a 12 month low of $15.82 and a 12 month high of $22.16. The company has a market cap of $1.71 billion, a P/E ratio of 19.19 and a beta of 0.72.
Bloomin’ Brands announced that its board has initiated a share buyback plan on Wednesday, April 26th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be issued a $0.08 dividend. The ex-dividend date is Monday, August 7th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.85%. Bloomin’ Brands’s dividend payout ratio (DPR) is presently 35.56%.
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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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