Bloomin’ Brands (NASDAQ:BLMN) Releases Earnings Results, Beats Estimates By $0.02 EPS

Bloomin’ Brands (NASDAQ:BLMN) released its quarterly earnings data on Friday. The restaurant operator reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02, Briefing.com reports. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Bloomin’ Brands had a net margin of 0.70% and a return on equity of 61.90%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the firm earned $0.44 earnings per share.

Bloomin’ Brands Stock Performance

NASDAQ:BLMN traded down $1.63 during mid-day trading on Friday, reaching $15.15. The company’s stock had a trading volume of 5,143,239 shares, compared to its average volume of 1,485,407. The stock has a market cap of $1.29 billion, a P/E ratio of 58.27 and a beta of 2.04. The firm’s fifty day moving average price is $16.42 and its two-hundred day moving average price is $18.88. Bloomin’ Brands has a 12-month low of $14.72 and a 12-month high of $30.13. The company has a current ratio of 0.35, a quick ratio of 0.26 and a debt-to-equity ratio of 3.46.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Barclays cut their price objective on Bloomin’ Brands from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Bank of America cut their price target on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Citigroup cut their price target on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. Morgan Stanley dropped their target price on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Finally, StockNews.com upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Bloomin’ Brands currently has an average rating of “Hold” and an average target price of $21.33.

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; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.