Analysts Expect Bloomin' Brands Inc (BLMN) Will Post Quarterly Sales of $1.07 Billion

Equities research analysts forecast that Bloomin' Brands Inc (NASDAQ:BLMN) will post $1.07 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Bloomin' Brands’ earnings, with estimates ranging from $1.04 billion to $1.10 billion. Bloomin' Brands reported sales of $1.00 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 7%. The firm is expected to report its next quarterly earnings report on Friday, February 16th.

According to Zacks, analysts expect that Bloomin' Brands will report full-year sales of $1.07 billion for the current financial year, with estimates ranging from $4.17 billion to $4.23 billion. For the next financial year, analysts expect that the company will report sales of $4.17 billion per share, with estimates ranging from $4.12 billion to $4.26 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Bloomin' Brands.

Bloomin' Brands (NASDAQ:BLMN) last announced its quarterly earnings results on Friday, November 3rd. The restaurant operator reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). Bloomin' Brands had a return on equity of 94.30% and a net margin of 1.93%. The company had revenue of $948.90 million during the quarter, compared to the consensus estimate of $944.30 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The business’s revenue was down 5.6% compared to the same quarter last year.

A number of brokerages have recently commented on BLMN. BidaskClub upgraded shares of Bloomin' Brands from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research upgraded shares of Bloomin' Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Jefferies Group reiterated a “hold” rating and issued a $23.00 price target on shares of Bloomin' Brands in a research note on Friday, December 22nd. Raymond James Financial lowered shares of Bloomin' Brands from an “outperform” rating to a “market perform” rating and set a $24.00 price target for the company. in a research note on Wednesday, December 6th. Finally, Citigroup lowered shares of Bloomin' Brands to a “market perform” rating in a research note on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. Bloomin' Brands has an average rating of “Hold” and an average price target of $21.36.

In related news, EVP Christopher W. Brandt sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $20.47, for a total value of $511,750.00. Following the transaction, the executive vice president now owns 4,416 shares of the company’s stock, valued at $90,395.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Elizabeth A. Smith sold 1,700 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $17.00, for a total transaction of $28,900.00. Following the completion of the transaction, the chief executive officer now directly owns 82,935 shares in the company, valued at approximately $1,409,895. The disclosure for this sale can be found here. In the last three months, insiders sold 551,878 shares of company stock worth $11,131,099. 7.04% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Bloomin' Brands by 10.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,144 shares of the restaurant operator’s stock worth $109,000 after buying an additional 476 shares during the last quarter. New York State Teachers Retirement System purchased a new position in shares of Bloomin' Brands in the third quarter worth approximately $153,000. PNC Financial Services Group Inc. lifted its holdings in Bloomin' Brands by 83.2% during the second quarter. PNC Financial Services Group Inc. now owns 7,647 shares of the restaurant operator’s stock valued at $162,000 after purchasing an additional 3,472 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in Bloomin' Brands during the third quarter valued at approximately $181,000. Finally, Meeder Asset Management Inc. lifted its holdings in Bloomin' Brands by 317.0% during the third quarter. Meeder Asset Management Inc. now owns 10,608 shares of the restaurant operator’s stock valued at $187,000 after purchasing an additional 8,064 shares in the last quarter.

Shares of Bloomin' Brands (NASDAQ BLMN) opened at $21.90 on Friday. Bloomin' Brands has a 12 month low of $16.11 and a 12 month high of $22.47. The company has a market cap of $2,050.00, a P/E ratio of 28.44, a PEG ratio of 1.30 and a beta of 0.64. The company has a quick ratio of 0.29, a current ratio of 0.36 and a debt-to-equity ratio of 31.17.

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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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