Bloomin' Brands (NASDAQ:BLMN) Updates Q4 2024 Earnings Guidance

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) updated its fourth quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.320-0.420 for the period, compared to the consensus estimate of 0.670. The company issued revenue guidance of -. Bloomin' Brands also updated its FY 2024 guidance to 1.720-1.820 EPS.

Bloomin' Brands Stock Performance

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

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

Analyst Ratings Changes

A number of brokerages have issued reports on BLMN. Citigroup decreased their price target on Bloomin' Brands from $22.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their target price on Bloomin' Brands from $26.00 to $19.00 and set a "hold" rating on the stock in a report on Wednesday, August 7th. Barclays cut their price target on shares of Bloomin' Brands from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Tuesday, October 22nd. UBS Group lowered 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. Finally, Bank of America cut their target price on shares of Bloomin' Brands from $22.00 to $19.00 and set a "neutral" rating for the company in a research note on Tuesday, October 22nd. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $21.33.

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.