Bloomin' Brands Inc (NASDAQ:BLMN) – Jefferies Group boosted their Q2 2018 earnings per share (EPS) estimates for Bloomin' Brands in a report released on Friday. Jefferies Group analyst A. Barish now anticipates that the restaurant operator will earn $0.31 per share for the quarter, up from their previous forecast of $0.28. Jefferies Group currently has a “Hold” rating and a $23.00 price objective on the stock. Jefferies Group also issued estimates for Bloomin' Brands’ Q3 2018 earnings at $0.20 EPS, Q4 2018 earnings at $0.35 EPS, FY2018 earnings at $1.42 EPS and FY2019 earnings at $1.50 EPS.
A number of other brokerages have also commented on BLMN. Barclays boosted their target price on Bloomin' Brands from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. BMO Capital Markets decreased their target price on Bloomin' Brands from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Monday, November 6th. Zacks Investment Research raised Bloomin' Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. ValuEngine raised Bloomin' Brands from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Credit Suisse Group decreased their target price on Bloomin' Brands from $18.50 to $18.00 and set a “neutral” rating for the company in a research report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $22.78.
Bloomin' Brands (NASDAQ:BLMN) last issued its earnings results on Thursday, February 22nd. The restaurant operator reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Bloomin' Brands had a return on equity of 114.19% 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 previous year, the company posted $0.31 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Monday, March 5th will be issued a dividend of $0.09 per share. This is a positive change from Bloomin' Brands’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, March 2nd. Bloomin' Brands’s payout ratio is currently 32.65%.
Bloomin' Brands declared that its board has initiated a stock repurchase plan on Thursday, February 22nd that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the restaurant operator to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other Bloomin' Brands news, EVP Donagh Herlihy sold 195,333 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $24.00, for a total transaction of $4,687,992.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Peter Schmidt sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $22.50, for a total value of $78,750.00. Following the sale, the executive vice president now directly owns 7,916 shares of the company’s stock, valued at $178,110. The disclosure for this sale can be found here. Insiders have sold a total of 624,011 shares of company stock valued at $13,657,191 over the last three months. Corporate insiders own 7.04% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Earnest Partners LLC grew its holdings in shares of Bloomin' Brands by 30.9% in the fourth quarter. Earnest Partners LLC now owns 5,268,819 shares of the restaurant operator’s stock valued at $112,437,000 after acquiring an additional 1,245,120 shares in the last quarter. Jana Partners LLC bought a new position in shares of Bloomin' Brands in the third quarter valued at approximately $73,480,000. LSV Asset Management grew its holdings in shares of Bloomin' Brands by 15.9% in the fourth quarter. LSV Asset Management now owns 3,517,296 shares of the restaurant operator’s stock valued at $75,059,000 after acquiring an additional 482,900 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Bloomin' Brands by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,960,065 shares of the restaurant operator’s stock valued at $52,097,000 after acquiring an additional 23,110 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in shares of Bloomin' Brands by 0.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,277,021 shares of the restaurant operator’s stock valued at $48,592,000 after acquiring an additional 6,128 shares in the last quarter. 94.61% of the stock is owned by institutional investors.
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Bloomin' Brands Company Profile
Bloomin’ Brands, Inc is a holding company. The Company owns and operates casual, upscale casual and fine dining restaurants. The Company operates through two segments: U.S. and International. The U.S. segment includes all brands operating in the United States. The International segment includes brands operating outside the United States.
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