Bloomin' Brands (NASDAQ:BLMN) Releases Q4 Earnings Guidance

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) updated its fourth quarter earnings guidance on Friday. The company provided earnings per share guidance of $0.32-$0.42 for the period, compared to the consensus earnings per share estimate of $0.67. Bloomin' Brands also updated its FY 2024 guidance to 1.720-1.820 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BLMN shares. Citigroup dropped their price objective 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. BMO Capital Markets cut their target price on shares of Bloomin' Brands from $27.00 to $20.00 and set a "market perform" rating for the company in a research note on Wednesday, August 7th. UBS Group reduced their price target on shares of Bloomin' Brands from $26.00 to $18.00 and set a "neutral" rating on the stock in a report on Wednesday, August 7th. Barclays cut their price objective on Bloomin' Brands from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Tuesday, October 22nd. Finally, Bank of America reduced their target price on Bloomin' Brands from $22.00 to $19.00 and set a "neutral" rating on the stock in a report on Tuesday, October 22nd. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $21.33.

Bloomin' Brands Trading Down 9.7 %

NASDAQ:BLMN traded down $1.63 during midday trading on Friday, hitting $15.15. 3,789,524 shares of the company traded hands, compared to its average volume of 1,479,169. The company has a current ratio of 0.35, a quick ratio of 0.26 and a debt-to-equity ratio of 3.46. The firm's fifty day moving average is $16.47 and its 200-day moving average is $18.96. The firm has a market capitalization of $1.29 billion, a P/E ratio of 58.08 and a beta of 2.04. Bloomin' Brands has a 12-month low of $14.72 and a 12-month high of $30.13.

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

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.