Q3 2024 Earnings Estimate for Bloomin’ Brands, Inc. Issued By William Blair (NASDAQ:BLMN)

Bloomin’ Brands, Inc. (NASDAQ:BLMN) – William Blair decreased their Q3 2024 earnings estimates for Bloomin’ Brands in a research note issued to investors on Tuesday, August 6th. William Blair analyst S. Zackfia now anticipates that the restaurant operator will earn $0.22 per share for the quarter, down from their previous forecast of $0.41. The consensus estimate for Bloomin’ Brands’ current full-year earnings is $2.37 per share. William Blair also issued estimates for Bloomin’ Brands’ FY2024 earnings at $2.22 EPS and FY2025 earnings at $2.35 EPS.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.07). Bloomin’ Brands had a net margin of 1.56% and a return on equity of 65.73%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the company earned $0.74 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis.

Several other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Bloomin’ Brands from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, May 28th. Morgan Stanley lowered their target price on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. BMO Capital Markets lowered their target price on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a research note on Wednesday. UBS Group lowered their target price on shares of Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Barclays lowered their target price on shares of Bloomin’ Brands from $30.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.33.

Bloomin’ Brands Trading Down 2.1 %

Shares of NASDAQ BLMN opened at $15.63 on Friday. Bloomin’ Brands has a fifty-two week low of $15.44 and a fifty-two week high of $30.13. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.33 and a quick ratio of 0.26. The firm has a market capitalization of $1.35 billion, a P/E ratio of 24.42 and a beta of 2.04. The company’s 50 day simple moving average is $18.96 and its 200 day simple moving average is $23.79.

Bloomin’ Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 6.14%. The ex-dividend date of this dividend is Tuesday, August 20th. Bloomin’ Brands’s dividend payout ratio is 150.00%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BLMN. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Bloomin’ Brands by 2.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,926 shares of the restaurant operator’s stock worth $1,124,000 after purchasing an additional 869 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Bloomin’ Brands during the fourth quarter worth $1,222,000. Rye Brook Capital LLC boosted its holdings in Bloomin’ Brands by 6.2% during the fourth quarter. Rye Brook Capital LLC now owns 247,000 shares of the restaurant operator’s stock worth $6,953,000 after purchasing an additional 14,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Bloomin’ Brands by 4.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,267 shares of the restaurant operator’s stock worth $486,000 after purchasing an additional 776 shares during the last quarter. Finally, Quantum Private Wealth LLC boosted its holdings in Bloomin’ Brands by 29.6% during the fourth quarter. Quantum Private Wealth LLC now owns 13,610 shares of the restaurant operator’s stock worth $383,000 after purchasing an additional 3,110 shares during the last quarter.

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.