Research Analysts Set Expectations for Bloomin’ Brands, Inc.’s Q3 2024 Earnings (NASDAQ:BLMN)

Bloomin’ Brands, Inc. (NASDAQ:BLMN) – Research analysts at William Blair lifted their Q3 2024 earnings estimates for shares of Bloomin’ Brands in a research report issued to clients and investors on Tuesday, May 7th. William Blair analyst S. Zackfia now expects that the restaurant operator will earn $0.46 per share for the quarter, up from their previous forecast of $0.39. The consensus estimate for Bloomin’ Brands’ current full-year earnings is $2.55 per share. William Blair also issued estimates for Bloomin’ Brands’ Q4 2024 earnings at $0.83 EPS.

BLMN has been the subject of several other research reports. Citigroup boosted their price objective on Bloomin’ Brands from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Barclays cut their price target on Bloomin’ Brands from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday. UBS Group lowered their price objective on shares of Bloomin’ Brands from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday. BMO Capital Markets dropped their target price on shares of Bloomin’ Brands from $29.00 to $27.00 and set a “market perform” rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. downgraded shares of Bloomin’ Brands from an “overweight” rating to a “neutral” rating and set a $26.00 price target for the company. in a report on Tuesday, January 23rd. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Bloomin’ Brands currently has an average rating of “Hold” and a consensus target price of $27.50.

Bloomin’ Brands Stock Down 0.3 %

Bloomin’ Brands stock opened at $23.89 on Thursday. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 9.44, a P/E/G ratio of 9.85 and a beta of 2.02. The firm has a fifty day moving average price of $27.46 and a two-hundred day moving average price of $26.18. Bloomin’ Brands has a fifty-two week low of $22.03 and a fifty-two week high of $30.13. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.34 and a quick ratio of 0.27.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings data on Tuesday, May 7th. The restaurant operator reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.05). Bloomin’ Brands had a return on equity of 73.67% and a net margin of 5.30%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Bloomin’ Brands’s quarterly revenue was down 4.0% compared to the same quarter last year.

Hedge Funds Weigh In On Bloomin’ Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in BLMN. Raymond James & Associates lifted its stake in Bloomin’ Brands by 4.1% during the third quarter. Raymond James & Associates now owns 520,451 shares of the restaurant operator’s stock worth $12,798,000 after purchasing an additional 20,549 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Bloomin’ Brands by 14.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 171,793 shares of the restaurant operator’s stock worth $4,224,000 after buying an additional 21,462 shares in the last quarter. New York State Teachers Retirement System increased its holdings in Bloomin’ Brands by 4.7% during the 3rd quarter. New York State Teachers Retirement System now owns 94,285 shares of the restaurant operator’s stock valued at $2,318,000 after purchasing an additional 4,200 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Bloomin’ Brands by 4.8% during the third quarter. Verdence Capital Advisors LLC now owns 12,250 shares of the restaurant operator’s stock worth $301,000 after purchasing an additional 566 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Bloomin’ Brands by 16.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,491 shares of the restaurant operator’s stock worth $406,000 after purchasing an additional 2,384 shares during the last quarter.

Bloomin’ Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Friday, May 17th. Bloomin’ Brands’s dividend payout ratio is 37.94%.

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.