Brokerages Expect Bloomin’ Brands Inc (NASDAQ:BLMN) Will Post Quarterly Sales of $971.80 Million

Brokerages predict that Bloomin’ Brands Inc (NASDAQ:BLMN) will report sales of $971.80 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Bloomin’ Brands’ earnings, with estimates ranging from $961.05 million to $977.80 million. Bloomin’ Brands reported sales of $965.02 million in the same quarter last year, which indicates a positive year-over-year growth rate of 0.7%. The firm is scheduled to announce its next quarterly earnings report on Monday, November 4th.

On average, analysts expect that Bloomin’ Brands will report full year sales of $4.15 billion for the current year, with estimates ranging from $4.12 billion to $4.17 billion. For the next year, analysts forecast that the firm will post sales of $4.23 billion, with estimates ranging from $4.16 billion to $4.28 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Bloomin’ Brands.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. Bloomin’ Brands had a net margin of 2.62% and a return on equity of 105.54%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. Bloomin’ Brands’s revenue for the quarter was down 1.0% on a year-over-year basis.

Several analysts recently commented on the stock. Deutsche Bank assumed coverage on shares of Bloomin’ Brands in a research report on Friday, June 28th. They issued a “buy” rating and a $24.00 price target for the company. BMO Capital Markets raised shares of Bloomin’ Brands from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $17.00 to $19.00 in a research note on Thursday, September 5th. Loop Capital began coverage on shares of Bloomin’ Brands in a research note on Monday, July 22nd. They set a “buy” rating and a $22.00 price target on the stock. MKM Partners set a $20.00 price target on shares of Bloomin’ Brands and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Zacks Investment Research raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $21.80.

BLMN stock traded down $0.01 on Thursday, hitting $20.73. The company’s stock had a trading volume of 24,491 shares, compared to its average volume of 1,852,712. The firm has a 50 day moving average of $17.32 and a two-hundred day moving average of $18.89. Bloomin’ Brands has a 1 year low of $15.12 and a 1 year high of $22.22. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.33 and a beta of 0.27. The company has a current ratio of 0.30, a quick ratio of 0.21 and a debt-to-equity ratio of 15.18.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Monday, August 12th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.40 annualized dividend and a dividend yield of 1.93%. Bloomin’ Brands’s dividend payout ratio is presently 26.67%.

Several institutional investors have recently added to or reduced their stakes in BLMN. LS Investment Advisors LLC purchased a new position in Bloomin’ Brands in the 2nd quarter valued at about $56,000. New York State Teachers Retirement System purchased a new position in Bloomin’ Brands in the 1st quarter valued at about $70,000. Flinton Capital Management LLC purchased a new position in Bloomin’ Brands in the 2nd quarter valued at about $135,000. Advisor Group Inc. lifted its holdings in Bloomin’ Brands by 35.7% in the 2nd quarter. Advisor Group Inc. now owns 7,144 shares of the restaurant operator’s stock valued at $135,000 after purchasing an additional 1,881 shares in the last quarter. Finally, Riverhead Capital Management LLC purchased a new position in Bloomin’ Brands in the 2nd quarter valued at about $144,000.

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

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Earnings History and Estimates for Bloomin` Brands (NASDAQ:BLMN)

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