Brokerages Expect Bloomin’ Brands (BLMN) Will Announce Earnings of $0.60 Per Share

Wall Street brokerages expect Bloomin’ Brands (NASDAQ:BLMN) to announce $0.60 earnings per share for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Bloomin’ Brands’ earnings, with the highest EPS estimate coming in at $0.68 and the lowest estimate coming in at $0.55. Bloomin’ Brands reported earnings of $0.54 per share during the same quarter last year, which would indicate a positive year over year growth rate of 11.1%. The firm is expected to announce its next quarterly earnings report before the market opens on Thursday, April 26th.

According to Zacks, analysts expect that Bloomin’ Brands will report full-year earnings of $1.42 per share for the current year, with EPS estimates ranging from $1.40 to $1.43. For the next year, analysts expect that the firm will report earnings of $1.52 per share, with EPS estimates ranging from $1.47 to $1.55. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Bloomin’ Brands.

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Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Thursday, February 22nd. The restaurant operator reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. Bloomin’ Brands had a return on equity of 133.73% and a net margin of 2.38%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the company earned $0.31 earnings per share. Bloomin’ Brands’s revenue was up 8.3% compared to the same quarter last year.

Several equities analysts have weighed in on BLMN shares. Jefferies Group reissued a “hold” rating and set a $23.00 price objective on shares of Bloomin’ Brands in a report on Friday, December 22nd. Zacks Investment Research raised Bloomin’ Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 3rd. BidaskClub raised Bloomin’ Brands from a “hold” rating to a “buy” rating in a report on Friday, January 5th. Barclays reissued an “overweight” rating and set a $25.00 price objective (up from $21.00) on shares of Bloomin’ Brands in a report on Tuesday, January 16th. Finally, Goldman Sachs reissued a “sell” rating on shares of Bloomin’ Brands in a report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. Bloomin’ Brands presently has a consensus rating of “Hold” and a consensus price target of $22.78.

In other news, Chairman Elizabeth A. Smith sold 241,163 shares of the firm’s stock in a transaction on Wednesday, April 11th. The stock was sold at an average price of $24.19, for a total value of $5,833,732.97. Following the completion of the transaction, the chairman now directly owns 294,152 shares of the company’s stock, valued at $7,115,536.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David J. Deno sold 50,000 shares of the firm’s stock in a transaction on Friday, April 6th. The stock was sold at an average price of $24.77, for a total value of $1,238,500.00. Following the completion of the transaction, the executive vice president now directly owns 65,135 shares of the company’s stock, valued at $1,613,393.95. The disclosure for this sale can be found here. Insiders sold 1,646,864 shares of company stock valued at $40,050,895 over the last ninety days. Corporate insiders own 7.47% of the company’s stock.

Several hedge funds have recently modified their holdings of BLMN. Public Employees Retirement Association of Colorado purchased a new stake in shares of Bloomin’ Brands in the fourth quarter worth $118,000. Vident Investment Advisory LLC purchased a new stake in shares of Bloomin’ Brands in the fourth quarter worth $203,000. Investors Research Corp purchased a new stake in shares of Bloomin’ Brands in the fourth quarter worth $208,000. JOYN Advisors Inc. purchased a new stake in shares of Bloomin’ Brands in the fourth quarter worth $215,000. Finally, Koch Industries Inc. purchased a new stake in shares of Bloomin’ Brands in the fourth quarter worth $218,000. Institutional investors own 98.49% of the company’s stock.

Shares of NASDAQ BLMN opened at $23.30 on Monday. Bloomin’ Brands has a 1-year low of $16.11 and a 1-year high of $25.00. The firm has a market cap of $2,165.33, a price-to-earnings ratio of 17.13, a PEG ratio of 1.68 and a beta of 0.38. The company has a debt-to-equity ratio of 22.07, a current ratio of 0.42 and a quick ratio of 0.36.

Bloomin’ Brands declared that its board has approved a share buyback program on Thursday, February 22nd that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the restaurant operator to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.

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