Bloomin’ Brands (NASDAQ:BLMN) Announces Earnings Results

Bloomin’ Brands (NASDAQ:BLMN) issued its earnings results on Friday. The restaurant operator reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02, Briefing.com reports. Bloomin’ Brands had a return on equity of 61.90% and a net margin of 0.70%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the business earned $0.44 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year.

Bloomin’ Brands Stock Performance

Shares of BLMN stock opened at $15.15 on Friday. Bloomin’ Brands has a 12-month low of $14.72 and a 12-month high of $30.13. The business’s fifty day simple moving average is $16.42 and its 200-day simple moving average is $18.82. The company has a current ratio of 0.35, a quick ratio of 0.26 and a debt-to-equity ratio of 3.46. The company has a market cap of $1.29 billion, a PE ratio of 58.27 and a beta of 2.04.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Wednesday. BMO Capital Markets reduced their price target on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Barclays dropped their price objective on shares of Bloomin’ Brands from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Finally, Bank of America dropped their target price on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus 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.