Bloomin’ Brands (NASDAQ:BLMN) Updates Q4 Earnings Guidance

Bloomin’ Brands (NASDAQ:BLMN) 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.

Bloomin’ Brands Stock Down 9.7 %

BLMN opened at $15.15 on Friday. The stock 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 52 week low of $14.72 and a 52 week high of $30.13. The business’s fifty day simple moving average is $16.42 and its 200 day simple moving average is $18.82.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings data on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. Bloomin’ Brands had a net margin of 0.70% and a return on equity of 61.90%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business posted $0.44 earnings per share. Bloomin’ Brands’s quarterly revenue was down 5.1% compared to the same quarter last year. As a group, research analysts expect that Bloomin’ Brands will post 2.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BLMN. Citigroup lowered their target price on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. UBS Group lowered their target price 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. Barclays lowered their target price on shares of Bloomin’ Brands from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Bank of America reduced their price target on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.