Brokerages expect that Bloomin’ Brands Inc (NASDAQ:BLMN) will post sales of $1.04 billion for the current quarter, Zacks reports. Five analysts have provided estimates for Bloomin’ Brands’ earnings, with estimates ranging from $1.03 billion to $1.06 billion. Bloomin’ Brands posted sales of $1.03 billion during the same quarter last year, which suggests a positive year over year growth rate of 1%. The firm is scheduled to announce its next quarterly earnings results on Monday, July 29th.
According to Zacks, analysts expect that Bloomin’ Brands will report full year sales of $4.18 billion for the current financial year, with estimates ranging from $4.15 billion to $4.22 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $4.29 billion, with estimates ranging from $4.26 billion to $4.33 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Bloomin’ Brands.
Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings data on Friday, April 26th. The restaurant operator reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.02. Bloomin’ Brands had a net margin of 2.56% and a return on equity of 124.00%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the firm earned $0.71 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis.
Shares of BLMN stock opened at $18.23 on Tuesday. Bloomin’ Brands has a 12 month low of $17.08 and a 12 month high of $23.16. The company has a debt-to-equity ratio of 9.20, a quick ratio of 0.21 and a current ratio of 0.30. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 1.31 and a beta of 0.30.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 13th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.40 annualized dividend and a dividend yield of 2.19%. Bloomin’ Brands’s payout ratio is 26.67%.
In other news, insider Elizabeth A. Smith sold 116,318 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $19.99, for a total value of $2,325,196.82. Following the sale, the insider now owns 411,733 shares in the company, valued at $8,230,542.67. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Elizabeth A. Smith sold 65,486 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $20.00, for a total transaction of $1,309,720.00. Following the completion of the sale, the chairman now owns 411,733 shares in the company, valued at approximately $8,234,660. The disclosure for this sale can be found here. Company insiders own 4.39% of the company’s stock.
Several institutional investors have recently made changes to their positions in BLMN. Norges Bank acquired a new stake in shares of Bloomin’ Brands in the fourth quarter worth $32,422,000. Daruma Capital Management LLC acquired a new stake in shares of Bloomin’ Brands in the first quarter worth $18,965,000. Copeland Capital Management LLC acquired a new stake in shares of Bloomin’ Brands in the first quarter worth $12,877,000. BlackRock Inc. grew its stake in shares of Bloomin’ Brands by 8.4% in the first quarter. BlackRock Inc. now owns 7,472,378 shares of the restaurant operator’s stock worth $152,810,000 after acquiring an additional 578,776 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Bloomin’ Brands by 29.5% in the fourth quarter. Prudential Financial Inc. now owns 2,485,686 shares of the restaurant operator’s stock worth $44,468,000 after acquiring an additional 566,831 shares during the last quarter. Institutional investors and hedge funds own 93.81% of the company’s stock.
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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