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

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

Bloomin’ Brands Trading Down 2.8 %

Shares of BLMN stock traded down $0.66 on Thursday, hitting $23.23. 842,864 shares of the stock traded hands, compared to its average volume of 1,327,431. Bloomin’ Brands has a twelve month low of $22.03 and a twelve month high of $30.13. The stock has a market capitalization of $2.02 billion, a PE ratio of 9.44, a PEG ratio of 9.85 and a beta of 2.02. The firm’s 50-day moving average price is $27.46 and its two-hundred day moving average price is $26.18. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.27 and a current ratio of 0.34.

Bloomin’ Brands (NASDAQ:BLMN) last posted its earnings results on Tuesday, May 7th. The restaurant operator reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.05). The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Bloomin’ Brands had a net margin of 5.30% and a return on equity of 73.67%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 earnings per share. As a group, analysts anticipate that Bloomin’ Brands will post 2.55 EPS for the current year.

Bloomin’ Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be given a $0.24 dividend. The ex-dividend date is Friday, May 17th. This represents a $0.96 dividend on an annualized basis and a yield of 4.13%. Bloomin’ Brands’s dividend payout ratio is currently 37.94%.

Analyst Upgrades and Downgrades

BLMN has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered shares of Bloomin’ Brands from an overweight rating to a neutral rating and set a $26.00 price objective on the stock. in a report on Tuesday, January 23rd. UBS Group decreased their price objective on shares of Bloomin’ Brands from $30.00 to $26.00 and set a neutral rating on the stock in a report on Wednesday. Citigroup lifted their target price on shares of Bloomin’ Brands from $25.00 to $29.00 and gave the company a neutral rating in a report on Thursday, February 15th. Barclays decreased their price target on Bloomin’ Brands from $32.00 to $30.00 and set an overweight rating on the stock in a research note on Wednesday. Finally, BMO Capital Markets dropped their price objective on Bloomin’ Brands from $29.00 to $27.00 and set a market perform rating for the company in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $27.50.

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.