Brokerages Expect Bloomin’ Brands, Inc. (BLMN) Will Announce Earnings of $0.28 Per Share
Brokerages expect Bloomin’ Brands, Inc. (NASDAQ:BLMN) to report earnings per share (EPS) of $0.28 for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Bloomin’ Brands’ earnings, with estimates ranging from $0.26 to $0.31. Bloomin’ Brands posted 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 business is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, July 26th.
On average, analysts expect that Bloomin’ Brands will report full year earnings of $1.42 per share for the current year, with EPS estimates ranging from $1.40 to $1.45. For the next year, analysts forecast that the company will report earnings of $1.51 per share, with EPS estimates ranging from $1.45 to $1.55. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Bloomin’ Brands.
Bloomin’ Brands (NASDAQ:BLMN) last announced its earnings results on Wednesday, April 26th. The restaurant operator reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.02. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. Bloomin’ Brands had a net margin of 1.21% and a return on equity of 61.37%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 EPS.
Several equities research analysts have recently commented on BLMN shares. Deutsche Bank AG boosted their target price on shares of Bloomin’ Brands from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. TheStreet raised shares of Bloomin’ Brands from a “c” rating to a “b” rating in a research report on Wednesday, April 26th. Morgan Stanley boosted their price target on shares of Bloomin’ Brands from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Friday, April 28th. Wells Fargo & Company cut shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating and set a $22.00 price target on the stock. in a report on Friday, May 19th. Finally, ValuEngine cut shares of Bloomin’ Brands from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Bloomin’ Brands currently has an average rating of “Hold” and an average price target of $20.57.
In other news, Chairman Elizabeth A. Smith sold 275,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $21.81, for a total value of $5,997,750.00. Following the sale, the chairman now owns 206,235 shares of the company’s stock, valued at $4,497,985.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Sukhdev Singh sold 26,446 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $21.67, for a total transaction of $573,084.82. Following the completion of the sale, the executive vice president now directly owns 15,759 shares in the company, valued at approximately $341,497.53. The disclosure for this sale can be found here. Insiders own 7.04% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in Bloomin’ Brands by 0.4% in the first quarter. Principal Financial Group Inc. now owns 53,124 shares of the restaurant operator’s stock valued at $1,048,000 after buying an additional 202 shares during the last quarter. New York State Teachers Retirement System increased its stake in Bloomin’ Brands by 3.1% in the fourth quarter. New York State Teachers Retirement System now owns 10,100 shares of the restaurant operator’s stock valued at $182,000 after buying an additional 300 shares during the last quarter. US Bancorp DE increased its stake in Bloomin’ Brands by 0.5% in the first quarter. US Bancorp DE now owns 63,477 shares of the restaurant operator’s stock valued at $1,252,000 after buying an additional 306 shares during the last quarter. Tudor Investment Corp Et Al increased its stake in Bloomin’ Brands by 3.5% in the fourth quarter. Tudor Investment Corp Et Al now owns 12,800 shares of the restaurant operator’s stock valued at $231,000 after buying an additional 429 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in Bloomin’ Brands by 8.6% in the first quarter. Public Employees Retirement System of Ohio now owns 8,794 shares of the restaurant operator’s stock valued at $174,000 after buying an additional 693 shares during the last quarter. 98.42% of the stock is currently owned by institutional investors.
Bloomin’ Brands (NASDAQ:BLMN) traded up 0.14% during trading on Thursday, hitting $21.29. 870,529 shares of the stock were exchanged. Bloomin’ Brands has a 52 week low of $15.82 and a 52 week high of $22.16. The firm’s 50-day moving average is $20.96 and its 200 day moving average is $19.40. The firm has a market cap of $2.19 billion, a PE ratio of 46.28 and a beta of 0.76.
Bloomin’ Brands announced that its board has initiated a stock repurchase plan on Wednesday, April 26th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
About Bloomin’ Brands
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.
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