FY2018 EPS Estimates for Bloomin’ Brands, Inc. Lifted by Analyst (NASDAQ:BLMN)
Bloomin’ Brands, Inc. (NASDAQ:BLMN) – Equities research analysts at William Blair increased their FY2018 earnings estimates for Bloomin’ Brands in a note issued to investors on Wednesday. William Blair analyst S. Zackfia now anticipates that the restaurant operator will post earnings per share of $1.52 for the year, up from their previous forecast of $1.51.
Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Wednesday, April 26th. The restaurant operator reported $0.54 earnings per share (EPS) 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 analysts’ expectations 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 company posted $0.47 earnings per share. COPYRIGHT VIOLATION NOTICE: “FY2018 EPS Estimates for Bloomin’ Brands, Inc. Lifted by Analyst (NASDAQ:BLMN)” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this piece on another site, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/07/24/fy2018-eps-estimates-for-bloomin-brands-inc-lifted-by-analyst-nasdaqblmn.html.
Other equities analysts have also recently issued reports about the stock. TheStreet upgraded shares of Bloomin’ Brands from a “c” rating to a “b” rating in a research note on Wednesday, April 26th. BidaskClub lowered shares of Bloomin’ Brands from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Deutsche Bank AG boosted their price target on shares of Bloomin’ Brands from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Friday, April 28th. ValuEngine lowered shares of Bloomin’ Brands from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Wells Fargo & Company lowered shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating and set a $22.00 price target for the company. in a report on Friday, May 19th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $20.57.
Bloomin’ Brands (NASDAQ:BLMN) opened at 21.16 on Monday. Bloomin’ Brands has a 1-year low of $15.82 and a 1-year high of $22.16. The company’s 50-day moving average is $21.00 and its 200 day moving average is $19.41. The stock has a market capitalization of $2.18 billion, a PE ratio of 46.00 and a beta of 0.76.
Several large investors have recently added to or reduced their stakes in the company. First Quadrant L P CA acquired a new stake in Bloomin’ Brands during the second quarter worth about $296,000. Reinhart Partners Inc. raised its stake in Bloomin’ Brands by 2.4% in the second quarter. Reinhart Partners Inc. now owns 149,040 shares of the restaurant operator’s stock worth $3,164,000 after buying an additional 3,450 shares during the last quarter. James Investment Research Inc. acquired a new stake in Bloomin’ Brands during the second quarter worth about $1,389,000. Bank of Montreal Can raised its stake in Bloomin’ Brands by 3.5% in the second quarter. Bank of Montreal Can now owns 35,703 shares of the restaurant operator’s stock worth $758,000 after buying an additional 1,221 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised 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 worth $174,000 after buying an additional 693 shares during the last quarter. 98.48% of the stock is owned by institutional investors and hedge funds.
In other news, 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 transaction of $573,084.82. Following the completion of the sale, the executive vice president now owns 15,759 shares of the company’s stock, valued at $341,497.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Elizabeth A. Smith sold 275,000 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $21.81, for a total transaction of $5,997,750.00. Following the sale, the chairman now directly owns 206,235 shares of the company’s stock, valued at approximately $4,497,985.35. The disclosure for this sale can be found here. 7.04% of the stock is currently owned by insiders.
Bloomin’ Brands announced that its board has initiated a share buyback program on Wednesday, April 26th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the restaurant operator to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
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.
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