Bloomin’ Brands (NASDAQ:BLMN – Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.51-2.66 for the period, compared to the consensus estimate of $2.42. Bloomin’ Brands also updated its FY 2024 guidance to 2.100-2.300 EPS.
Analyst Upgrades and Downgrades
Several brokerages have commented on BLMN. BMO Capital Markets decreased their price objective 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. Barclays dropped their price target on Bloomin’ Brands from $30.00 to $22.00 and set an overweight rating on the stock in a research note on Wednesday. UBS Group cut their price target on Bloomin’ Brands from $26.00 to $18.00 and set a neutral rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bloomin’ Brands from $26.00 to $19.00 and set a hold rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Bloomin’ Brands from $26.00 to $24.00 and set a neutral rating for the company in a research note on Tuesday, May 28th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $23.33.
Get Our Latest Analysis on BLMN
Bloomin’ Brands Price Performance
Bloomin’ Brands (NASDAQ:BLMN – Get Free Report) last posted its earnings results on Tuesday, August 6th. The restaurant operator reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.07). Bloomin’ Brands had a net margin of 1.56% and a return on equity of 65.73%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. Equities analysts predict that Bloomin’ Brands will post 2.37 EPS for the current fiscal year.
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.
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