Bloomin’ Brands (NASDAQ:BLMN) Updates FY 2024 Earnings Guidance

Bloomin’ Brands (NASDAQ:BLMN) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 1.720-1.820 for the period, compared to the consensus estimate of 2.080. The company issued revenue guidance of -. Bloomin’ Brands also updated its Q4 guidance to $0.32-$0.42 EPS.

Bloomin’ Brands Stock Down 9.7 %

Shares of NASDAQ:BLMN opened at $15.15 on Friday. The company has a 50 day moving average price of $16.42 and a two-hundred day moving average price of $18.82. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.26 and a current ratio of 0.35. The company has a market capitalization of $1.29 billion, a PE ratio of 58.27 and a beta of 2.04. Bloomin’ Brands has a 52 week low of $14.72 and a 52 week high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings data on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Bloomin’ Brands had a net margin of 0.70% and a return on equity of 61.90%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. Analysts forecast that Bloomin’ Brands will post 2.07 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BLMN. UBS Group decreased their price objective on Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. BMO Capital Markets cut their price objective on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 7th. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Barclays cut their price target on Bloomin’ Brands from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.