#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, 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.
Read More - Current Price
- $13.19
- Consensus Rating
- Hold
- Ratings Breakdown
- 1 Buy Ratings, 9 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $19.70 (49.4% Upside)
