$0.28 Earnings Per Share Expected for Bloomin’ Brands, Inc. (BLMN) This Quarter
Wall Street analysts expect Bloomin’ Brands, Inc. (NASDAQ:BLMN) to post $0.28 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Bloomin’ Brands’ earnings, with the lowest EPS estimate coming in at $0.26 and the highest estimate coming in at $0.31. Bloomin’ Brands reported earnings per share of $0.30 during the same quarter last year, which suggests a negative year over year growth rate of 6.7%. The firm is scheduled to report its next earnings report on Friday, August 4th.
According to Zacks, analysts expect that Bloomin’ Brands will report full-year earnings of $1.43 per share for the current fiscal year, with EPS estimates ranging from $1.40 to $1.45. For the next financial year, analysts anticipate that the business will post earnings of $1.52 per share, with EPS estimates ranging from $1.45 to $1.55. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Bloomin’ Brands.
Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Wednesday, April 26th. The restaurant operator reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Bloomin’ Brands had a net margin of 1.21% and a return on equity of 61.37%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 EPS.
Several equities research analysts recently weighed in on the company. Deutsche Bank AG upped their price target on Bloomin’ Brands from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Morgan Stanley upped their price target on Bloomin’ Brands from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Friday, April 28th. TheStreet raised Bloomin’ Brands from a “c” rating to a “b” rating in a research note on Wednesday, April 26th. Wells Fargo & Company cut Bloomin’ Brands from an “outperform” rating to a “market perform” rating and set a $22.00 price target on the stock. in a research note on Friday, May 19th. Finally, ValuEngine cut Bloomin’ Brands from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $20.22.
Shares of Bloomin’ Brands (NASDAQ:BLMN) traded up 1.01% during trading on Monday, hitting $20.91. The company had a trading volume of 1,041,638 shares. Bloomin’ Brands has a 1-year low of $15.82 and a 1-year high of $22.16. The firm has a market capitalization of $2.16 billion, a P/E ratio of 45.46 and a beta of 0.77. The company’s 50 day moving average is $20.92 and its 200 day moving average is $19.05.
In other news, EVP Donagh Herlihy sold 3,326 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $20.00, for a total transaction of $66,520.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sukhdev Singh sold 26,446 shares of the company’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $21.67, for a total value of $573,084.82. Following the transaction, the executive vice president now directly owns 15,759 shares in the company, valued at $341,497.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 304,772 shares of company stock worth $6,637,355. Corporate insiders own 7.04% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Bloomin’ Brands by 36,253.0% in the first quarter. BlackRock Inc. now owns 7,091,374 shares of the restaurant operator’s stock worth $139,913,000 after buying an additional 7,071,867 shares in the last quarter. Norges Bank purchased a new position in Bloomin’ Brands during the fourth quarter worth $30,806,000. RidgeWorth Capital Management LLC increased its position in Bloomin’ Brands by 47.8% in the first quarter. RidgeWorth Capital Management LLC now owns 3,734,317 shares of the restaurant operator’s stock worth $73,678,000 after buying an additional 1,207,202 shares in the last quarter. Vanguard Group Inc. increased its position in Bloomin’ Brands by 11.2% in the first quarter. Vanguard Group Inc. now owns 11,991,871 shares of the restaurant operator’s stock worth $236,600,000 after buying an additional 1,203,463 shares in the last quarter. Finally, Earnest Partners LLC increased its position in Bloomin’ Brands by 37.9% in the first quarter. Earnest Partners LLC now owns 3,911,225 shares of the restaurant operator’s stock worth $77,168,000 after buying an additional 1,074,463 shares in the last quarter. 98.42% of the stock is currently owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY NOTICE: This news story was posted by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/06/26/0-28-earnings-per-share-expected-for-bloomin-brands-inc-blmn-this-quarter.html.
Bloomin’ Brands Company Profile
Bloomin’ Brands, Inc is a holding company. The Company owns and operates casual, upscale casual and fine dining restaurants. The Company operates through two segments: U.S. and International. The U.S. segment includes all brands operating in the United States. The International segment includes brands operating outside the United States.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Bloomin' Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bloomin' Brands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.