Bloomin' Brands (NASDAQ:BLMN) Releases FY 2024 Earnings Guidance

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 1.720-1.820 for the period, compared to the consensus estimate of 2.080. The company issued revenue guidance of -. Bloomin' Brands also updated its Q4 guidance to $0.32-$0.42 EPS.

Wall Street Analysts Forecast Growth

BLMN has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered their target price on Bloomin' Brands from $26.00 to $19.00 and set a "hold" rating for the company in a research note on Wednesday, August 7th. UBS Group dropped their price objective on shares of Bloomin' Brands from $26.00 to $18.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 7th. Citigroup decreased their target price on shares of Bloomin' Brands from $22.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, August 19th. BMO Capital Markets dropped their price target on shares of Bloomin' Brands from $27.00 to $20.00 and set a "market perform" rating on the stock in a research note on Wednesday, August 7th. Finally, Morgan Stanley cut their price objective on shares of Bloomin' Brands from $26.00 to $22.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 16th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Bloomin' Brands presently has an average rating of "Hold" and an average price target of $21.33.

Bloomin' Brands Stock Down 9.7 %

BLMN stock traded down $1.63 during mid-day trading on Friday, hitting $15.15. 5,142,342 shares of the company were exchanged, compared to its average volume of 1,485,407. The firm has a fifty day simple moving average of $16.42 and a 200 day simple moving average of $18.88. The company has a market capitalization of $1.29 billion, a PE ratio of 58.27 and a beta of 2.04. Bloomin' Brands has a twelve month low of $14.72 and a twelve month high of $30.13. The company has a current ratio of 0.35, a quick ratio of 0.26 and a debt-to-equity ratio of 3.46.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The restaurant operator reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.07). The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.13 billion. Bloomin' Brands had a return on equity of 61.90% and a net margin of 0.70%. The firm's revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.74 earnings per share. On average, research analysts forecast that Bloomin' Brands will post 2.07 earnings per share for the current fiscal year.

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.