Bloomin’ Brands, Inc. (BLMN) Expected to Post Quarterly Sales of $944.52 Million
Equities research analysts expect Bloomin’ Brands, Inc. (NASDAQ:BLMN) to announce sales of $944.52 million for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Bloomin’ Brands’ earnings. The highest sales estimate is $956.57 million and the lowest is $934.50 million. Bloomin’ Brands reported sales of $1.01 billion during the same quarter last year, which would suggest a negative year over year growth rate of 6.5%. The business is scheduled to announce its next quarterly earnings report on Friday, October 27th.
According to Zacks, analysts expect that Bloomin’ Brands will report full year sales of $944.52 million for the current financial year, with estimates ranging from $4.13 billion to $4.24 billion. For the next fiscal year, analysts forecast that the company will report sales of $4.15 billion per share, with estimates ranging from $4.09 billion to $4.25 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Bloomin’ Brands.
Bloomin’ Brands (NASDAQ:BLMN) last announced its earnings results on Wednesday, July 26th. The restaurant operator reported $0.28 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28. Bloomin’ Brands had a net margin of 2.29% and a return on equity of 74.68%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the firm earned $0.30 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis.
Several analysts have recently issued reports on the stock. BidaskClub lowered shares of Bloomin’ Brands from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Raymond James Financial, Inc. set a $24.00 price target on shares of Bloomin’ Brands and gave the company a “buy” rating in a research report on Thursday, July 27th. Jefferies Group LLC reissued a “hold” rating and issued a $19.00 price target on shares of Bloomin’ Brands in a research report on Thursday, August 31st. ValuEngine lowered shares of Bloomin’ Brands from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $20.63.
A number of institutional investors have recently bought and sold shares of BLMN. Bank of Montreal Can increased its holdings in Bloomin’ Brands by 28.9% during the 1st quarter. Bank of Montreal Can now owns 34,482 shares of the restaurant operator’s stock worth $680,000 after acquiring an additional 7,730 shares during the period. First Trust Advisors LP increased its holdings in Bloomin’ Brands by 149.9% during the 1st quarter. First Trust Advisors LP now owns 111,227 shares of the restaurant operator’s stock worth $2,195,000 after acquiring an additional 66,726 shares during the period. US Bancorp DE increased its holdings in Bloomin’ Brands by 0.5% during the 1st quarter. US Bancorp DE now owns 63,477 shares of the restaurant operator’s stock worth $1,252,000 after acquiring an additional 306 shares during the period. UBS Asset Management Americas Inc. increased its holdings in Bloomin’ Brands by 24.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 80,092 shares of the restaurant operator’s stock worth $1,580,000 after acquiring an additional 15,518 shares during the period. Finally, Sei Investments Co. increased its holdings in Bloomin’ Brands by 1.8% during the 1st quarter. Sei Investments Co. now owns 225,508 shares of the restaurant operator’s stock worth $4,450,000 after acquiring an additional 4,060 shares during the period.
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Bloomin’ Brands (NASDAQ BLMN) opened at 17.18 on Friday. The company has a market capitalization of $1.70 billion, a PE ratio of 19.05 and a beta of 0.73. The stock’s 50 day moving average is $17.22 and its 200 day moving average is $19.39. Bloomin’ Brands has a one year low of $15.82 and a one year high of $22.16.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Monday, August 7th. Bloomin’ Brands’s dividend payout ratio (DPR) is presently 35.56%.
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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