William Blair Analysts Increase Earnings Estimates for Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Bloomin’ Brands, Inc. (NASDAQ:BLMN) – Stock analysts at William Blair lifted their Q1 2024 earnings per share (EPS) estimates for shares of Bloomin’ Brands in a research report issued to clients and investors on Wednesday, April 24th. William Blair analyst S. Zackfia now forecasts that the restaurant operator will post earnings of $0.73 per share for the quarter, up from their previous forecast of $0.72. The consensus estimate for Bloomin’ Brands’ current full-year earnings is $2.55 per share.

BLMN has been the subject of a number of other research reports. JPMorgan Chase & Co. cut Bloomin’ Brands from an “overweight” rating to a “neutral” rating and set a $26.00 price target for the company. in a report on Tuesday, January 23rd. Citigroup upped their target price on Bloomin’ Brands from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Raymond James upped their target price on Bloomin’ Brands from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. Barclays upped their target price on Bloomin’ Brands from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. Finally, BMO Capital Markets upped their target price on Bloomin’ Brands from $27.00 to $29.00 and gave the stock a “market perform” rating in a report on Monday, February 26th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $27.90.

Bloomin’ Brands Price Performance

Bloomin’ Brands stock opened at $26.93 on Monday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.27 and a current ratio of 0.34. Bloomin’ Brands has a 52 week low of $22.03 and a 52 week high of $30.13. The stock has a market capitalization of $2.34 billion, a P/E ratio of 10.64, a price-to-earnings-growth ratio of 10.36 and a beta of 2.00. The stock has a fifty day moving average of $27.77 and a 200-day moving average of $26.10.

Bloomin’ Brands (NASDAQ:BLMN) last released its earnings results on Friday, February 23rd. The restaurant operator reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.20 billion. Bloomin’ Brands had a return on equity of 73.67% and a net margin of 5.30%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 EPS.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLMN. EverSource Wealth Advisors LLC lifted its holdings in shares of Bloomin’ Brands by 683.2% in the third quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the restaurant operator’s stock valued at $31,000 after purchasing an additional 1,100 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Bloomin’ Brands in the third quarter valued at approximately $32,000. TFO Wealth Partners LLC lifted its holdings in shares of Bloomin’ Brands by 284,000.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,841 shares of the restaurant operator’s stock valued at $80,000 after purchasing an additional 2,840 shares in the last quarter. CWM LLC lifted its holdings in shares of Bloomin’ Brands by 54.8% in the third quarter. CWM LLC now owns 3,460 shares of the restaurant operator’s stock valued at $85,000 after purchasing an additional 1,225 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Bloomin’ Brands by 23.5% in the third quarter. Assetmark Inc. now owns 4,026 shares of the restaurant operator’s stock valued at $99,000 after purchasing an additional 765 shares in the last quarter.

Bloomin’ Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.96 annualized dividend and a yield of 3.56%. Bloomin’ Brands’s payout ratio is currently 37.94%.

About Bloomin’ Brands

Bloomin' Brands, Inc, through its subsidiaries, owns and operates casual, upscale casual, and fine dining restaurants in the United States and internationally. The company operates through two segments, U.S. and International. Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba's Italian Grill, a casual Italian restaurant; Bonefish Grill; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.