William Blair Research Analysts Lift Earnings Estimates for Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Bloomin’ Brands, Inc. (NASDAQ:BLMN) – William Blair increased their Q2 2024 EPS estimates for Bloomin’ Brands in a research note issued to investors on Wednesday, April 24th. William Blair analyst S. Zackfia now expects that the restaurant operator will post earnings of $0.61 per share for the quarter, up from their previous forecast of $0.60. The consensus estimate for Bloomin’ Brands’ current full-year earnings is $2.55 per share. William Blair also issued estimates for Bloomin’ Brands’ FY2024 earnings at $2.65 EPS and FY2025 earnings at $2.87 EPS.

BLMN has been the subject of several other research reports. Barclays boosted their price target on Bloomin’ Brands from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. Citigroup boosted their price target on Bloomin’ Brands from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Raymond James boosted their price target on Bloomin’ Brands from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, January 3rd. BMO Capital Markets upped their target price on Bloomin’ Brands from $27.00 to $29.00 and gave the stock a “market perform” rating in a research report on Monday, February 26th. Finally, JPMorgan Chase & Co. cut Bloomin’ Brands from an “overweight” rating to a “neutral” rating and set a $26.00 target price for the company. in a research report on Tuesday, January 23rd. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Bloomin’ Brands has an average rating of “Hold” and a consensus target price of $27.90.

Bloomin’ Brands Price Performance

Shares of BLMN opened at $26.99 on Friday. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of 10.40 and a beta of 2.00. The business’s 50-day moving average is $27.76 and its 200-day moving average is $26.04. Bloomin’ Brands has a fifty-two week low of $22.03 and a fifty-two week high of $30.13. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.34 and a quick ratio of 0.27.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings results on Friday, February 23rd. The restaurant operator reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.06. Bloomin’ Brands had a net margin of 5.30% and a return on equity of 73.67%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year.

Institutional Investors Weigh In On Bloomin’ Brands

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its position in shares of Bloomin’ Brands by 683.2% in the third quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the restaurant operator’s stock valued at $31,000 after acquiring an additional 1,100 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Bloomin’ Brands in the third quarter valued at $32,000. TFO Wealth Partners LLC raised its stake in shares of Bloomin’ Brands by 284,000.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,841 shares of the restaurant operator’s stock valued at $80,000 after purchasing an additional 2,840 shares in the last quarter. CWM LLC raised its stake in shares of Bloomin’ Brands by 54.8% in the third quarter. CWM LLC now owns 3,460 shares of the restaurant operator’s stock valued at $85,000 after purchasing an additional 1,225 shares in the last quarter. Finally, Assetmark Inc. raised its stake in shares of Bloomin’ Brands by 23.5% in the third quarter. Assetmark Inc. now owns 4,026 shares of the restaurant operator’s stock valued at $99,000 after purchasing an additional 765 shares in the last quarter.

Bloomin’ Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.96 annualized dividend and a dividend yield of 3.56%. Bloomin’ Brands’s dividend payout ratio is 37.94%.

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.