Bloomin’ Brands (NASDAQ:BLMN) Updates Q4 Earnings Guidance

Bloomin’ Brands (NASDAQ:BLMN) issued an update on its fourth quarter earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $0.32-$0.42 for the period, compared to the consensus estimate of $0.67. Bloomin’ Brands also updated its FY 2024 guidance to 1.720-1.820 EPS.

Bloomin’ Brands Stock Performance

NASDAQ:BLMN opened at $16.78 on Friday. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.35 and a quick ratio of 0.26. The firm has a market cap of $1.43 billion, a PE ratio of 64.54 and a beta of 2.04. The firm has a 50 day simple moving average of $16.47 and a 200-day simple moving average of $18.96. Bloomin’ Brands has a 1-year low of $15.14 and a 1-year high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings results on Tuesday, August 6th. The restaurant operator reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.07). Bloomin’ Brands had a return on equity of 61.90% and a net margin of 0.70%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the company earned $0.74 EPS. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities analysts expect that Bloomin’ Brands will post 2.07 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Citigroup reduced their target price on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Morgan Stanley cut their price objective on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Bank of America decreased their target price on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Finally, UBS Group reduced their price target on shares of Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $21.33.

Bloomin’ Brands Company Profile

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.