Bloomin’ Brands (BLMN) Set to Announce Earnings on Tuesday

Bloomin’ Brands (NASDAQ:BLMN) will release its earnings data before the market opens on Tuesday, August 6th. Analysts expect Bloomin’ Brands to post earnings of $0.58 per share for the quarter. Bloomin’ Brands has set its Q2 guidance at $0.55-$0.60 EPS and its FY24 guidance at $2.51-$2.66 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings results on Tuesday, May 7th. The restaurant operator reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.05). Bloomin’ Brands had a net margin of 1.56% and a return on equity of 65.73%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business posted $0.98 earnings per share. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, analysts expect Bloomin’ Brands to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Bloomin’ Brands Stock Down 2.1 %

Shares of BLMN stock opened at $19.62 on Monday. Bloomin’ Brands has a 1 year low of $16.20 and a 1 year high of $30.13. The stock has a market cap of $1.70 billion, a PE ratio of 30.66 and a beta of 2.04. The business’s fifty day moving average is $19.39 and its 200-day moving average is $24.07. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.26 and a current ratio of 0.33.

Wall Street Analyst Weigh In

BLMN has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on Bloomin’ Brands from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 28th. Barclays reduced their price objective on Bloomin’ Brands from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. UBS Group reduced their price objective on Bloomin’ Brands from $30.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Morgan Stanley reduced their price objective on 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. Finally, BMO Capital Markets reduced 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, May 8th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.56.

About Bloomin’ Brands

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.