Bloomin’ Brands (NASDAQ:BLMN) – Analysts at William Blair increased their FY2019 earnings estimates for Bloomin’ Brands in a report issued on Thursday, April 19th. William Blair analyst S. Zackfia now expects that the restaurant operator will post earnings of $1.54 per share for the year, up from their previous forecast of $1.53. William Blair has a “Market Perform” rating on the stock.
Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Thursday, February 22nd. The restaurant operator reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Bloomin’ Brands had a return on equity of 133.73% and a net margin of 2.38%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 EPS.
BLMN has been the topic of a number of other reports. Zacks Investment Research upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Thursday, January 18th. BidaskClub downgraded Bloomin’ Brands from a “buy” rating to a “hold” rating in a report on Thursday, April 12th. Goldman Sachs reiterated a “sell” rating on shares of Bloomin’ Brands in a report on Friday, January 19th. ValuEngine upgraded Bloomin’ Brands from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 3rd. Finally, BMO Capital Markets set a $27.00 price target on Bloomin’ Brands and gave the company a “buy” rating in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Bloomin’ Brands has a consensus rating of “Hold” and an average price target of $22.78.
Shares of NASDAQ BLMN opened at $23.66 on Monday. The company has a debt-to-equity ratio of 22.07, a quick ratio of 0.36 and a current ratio of 0.42. The firm has a market capitalization of $2,203.44, a P/E ratio of 17.43, a P/E/G ratio of 1.72 and a beta of 0.38. Bloomin’ Brands has a 52-week low of $16.11 and a 52-week high of $25.00.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California Public Employees Retirement System boosted its position in Bloomin’ Brands by 17.9% during the fourth quarter. California Public Employees Retirement System now owns 106,467 shares of the restaurant operator’s stock valued at $2,272,000 after purchasing an additional 16,195 shares during the last quarter. Maverick Capital Ltd. acquired a new stake in Bloomin’ Brands during the fourth quarter valued at $14,435,000. Dimensional Fund Advisors LP boosted its position in Bloomin’ Brands by 0.8% during 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 purchasing an additional 23,110 shares during the last quarter. Jefferies Group LLC acquired a new stake in Bloomin’ Brands during the fourth quarter valued at $366,000. Finally, Caxton Associates LP acquired a new stake in Bloomin’ Brands during the fourth quarter valued at $3,201,000. 98.52% of the stock is owned by hedge funds and other institutional investors.
In related news, Chairman Elizabeth A. Smith sold 558,837 shares of Bloomin’ Brands stock in a transaction on Monday, April 9th. The stock was sold at an average price of $24.63, for a total transaction of $13,764,155.31. Following the completion of the sale, the chairman now owns 292,180 shares of the company’s stock, valued at $7,196,393.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Donagh Herlihy sold 195,333 shares of Bloomin’ Brands stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $24.00, for a total value of $4,687,992.00. The disclosure for this sale can be found here. Insiders have sold 1,646,864 shares of company stock worth $40,050,895 in the last quarter. 7.47% of the stock is currently owned by corporate insiders.
Bloomin’ Brands announced that its board has initiated a share repurchase plan on Thursday, February 22nd that permits the company to buyback $150.00 million in shares. This buyback authorization permits the restaurant operator to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
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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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