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 EPS guidance of $2.51-$2.66 for the period, compared to the consensus EPS estimate of $2.55. Bloomin’ Brands also updated its Q2 guidance to $0.55-$0.60 EPS.

Bloomin’ Brands Stock Performance

NASDAQ:BLMN traded down $0.84 during mid-day trading on Tuesday, reaching $24.12. 1,628,915 shares of the company’s stock were exchanged, compared to its average volume of 1,314,740. Bloomin’ Brands has a one year low of $22.03 and a one year high of $30.13. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.27 and a current ratio of 0.34. The business’s fifty day simple moving average is $27.60 and its two-hundred day simple moving average is $26.19. The firm has a market capitalization of $2.10 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 9.85 and a beta of 2.02.

Bloomin’ Brands (NASDAQ:BLMN) last announced its earnings results on Friday, February 23rd. The restaurant operator reported $0.75 EPS for the quarter, topping the consensus estimate of $0.69 by $0.06. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations 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 up 9.1% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. Analysts anticipate that Bloomin’ Brands will post 2.55 earnings per share for the current fiscal year.

Bloomin’ Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.98%. Bloomin’ Brands’s payout ratio is 37.94%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Barclays upped their price objective on shares of Bloomin’ Brands from $31.00 to $32.00 and gave the stock an overweight rating in a research report on Monday, February 26th. JPMorgan Chase & Co. lowered shares of Bloomin’ Brands from an overweight rating to a neutral rating and set a $26.00 price target on the stock. in a research report on Tuesday, January 23rd. BMO Capital Markets boosted their price objective on shares of Bloomin’ Brands from $27.00 to $29.00 and gave the company a market perform rating in a research report on Monday, February 26th. Finally, Citigroup upped their target price on Bloomin’ Brands from $25.00 to $29.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Bloomin’ Brands presently has a consensus rating of Hold and a consensus price target of $27.90.

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.