#1 - Bloomin’ Brands (NASDAQ:BLMN)
Restaurant stocks have been among the worst performers in 2024. The reopening bounce is long over, and many consumers (particularly low- to middle-income consumers) find eating at home to be more affordable than eating out.
That explains why shares of Bloomin’ Brands Inc. (NASDAQ: BLMN) are down 34% in 2024. But most of that loss has come since the company’s first quarter earnings report in May. Both revenue and earnings were down year-over-year, and earnings missed analysts’ expectations by five cents.
It wasn’t horrible, but enough for investors to step away from a stock that was trading near its five-year high. That said, institutional investors are stepping back into the stock. That's most likely being done with an eye toward rate cuts.
The parent company of brands such as Outback Steakhouse, Bonefish Grill and Carrabba’s Italian Grill still has a lot to like. It starts with a forward price-to-earnings (P/E) ratio of 8.15x. And the stock’s dividend pays an attractive dividend yield of 5.06%.
About Bloomin' Brands
Bloomin' Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.
More about Bloomin' Brands- Current Price
- $8.65
- Consensus Rating
- Reduce
- Ratings Breakdown
- 0 Buy Ratings, 9 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $15.00 (73.4% Upside)
