Bloomin’ Brands (NASDAQ:BLMN) Releases Earnings Results, Misses Expectations By $0.05 EPS

Bloomin’ Brands (NASDAQ:BLMN) issued its quarterly earnings results on Tuesday. The restaurant operator reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.05), Briefing.com reports. Bloomin’ Brands had a return on equity of 73.67% and a net margin of 5.30%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the company earned $0.98 earnings per share. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. Bloomin’ Brands updated its Q2 guidance to $0.55-$0.60 EPS and its FY24 guidance to $2.51-$2.66 EPS.

Bloomin’ Brands Stock Up 0.0 %

Shares of Bloomin’ Brands stock traded up $0.01 on Wednesday, hitting $23.97. 107,262 shares of the company’s stock traded hands, compared to its average volume of 1,313,220. The company has a quick ratio of 0.27, a current ratio of 0.34 and a debt-to-equity ratio of 1.89. The firm’s 50-day moving average is $27.54 and its 200 day moving average is $26.19. The stock has a market cap of $2.09 billion, a P/E ratio of 9.38, a PEG ratio of 9.85 and a beta of 2.02. Bloomin’ Brands has a 52-week low of $22.03 and a 52-week high of $30.13.

Bloomin’ Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid 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 4.01%. Bloomin’ Brands’s dividend payout ratio (DPR) is presently 37.94%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Bloomin’ Brands from an “overweight” rating to a “neutral” rating and set a $26.00 price objective for the company. in a research note on Tuesday, January 23rd. BMO Capital Markets lifted their target price on shares of Bloomin’ Brands from $27.00 to $29.00 and gave the company a “market perform” rating in a report on Monday, February 26th. Citigroup increased their price objective on Bloomin’ Brands from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. UBS Group lowered their price target on Bloomin’ Brands from $30.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Barclays boosted their target price on Bloomin’ Brands from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. Nine research 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.com, Bloomin’ Brands currently has an average rating of “Hold” and an average price target of $27.90.

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.