Brokerages expect Bloomin’ Brands Inc (NASDAQ:BLMN) to announce $978.00 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Bloomin’ Brands’ earnings, with estimates ranging from $970.88 million to $989.30 million. Bloomin’ Brands posted sales of $965.02 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.3%. The firm is expected to report its next quarterly earnings report on Monday, November 4th.
According to Zacks, analysts expect that Bloomin’ Brands will report full year sales of $4.17 billion for the current financial year, with estimates ranging from $4.15 billion to $4.22 billion. For the next financial year, analysts expect that the firm will post sales of $4.27 billion, with estimates ranging from $4.25 billion to $4.33 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Bloomin’ Brands.
Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. Bloomin’ Brands had a net margin of 2.62% and a return on equity of 113.33%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year.
BLMN traded down $0.31 during midday trading on Monday, hitting $16.91. The company had a trading volume of 1,554,601 shares, compared to its average volume of 1,600,962. Bloomin’ Brands has a 52 week low of $16.76 and a 52 week high of $22.22. The company has a quick ratio of 0.21, a current ratio of 0.30 and a debt-to-equity ratio of 9.20. The stock has a market cap of $1.58 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 1.14 and a beta of 0.23. The stock’s 50 day simple moving average is $18.18.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Monday, August 12th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Friday, August 9th. Bloomin’ Brands’s dividend payout ratio is currently 26.67%.
In other news, insider Elizabeth A. Smith sold 116,318 shares of Bloomin’ Brands stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $19.99, for a total transaction of $2,325,196.82. Following the completion of the transaction, the insider now directly owns 411,733 shares in the company, valued at $8,230,542.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.39% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. bought a new position in Bloomin’ Brands during the fourth quarter valued at about $60,000. Bank of New York Mellon Corp increased its stake in shares of Bloomin’ Brands by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 714,408 shares of the restaurant operator’s stock worth $12,780,000 after purchasing an additional 37,503 shares during the period. Advisor Group Inc. increased its stake in shares of Bloomin’ Brands by 72.0% in the fourth quarter. Advisor Group Inc. now owns 3,233 shares of the restaurant operator’s stock worth $57,000 after purchasing an additional 1,353 shares during the period. Geode Capital Management LLC increased its stake in shares of Bloomin’ Brands by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 1,033,721 shares of the restaurant operator’s stock worth $18,493,000 after purchasing an additional 56,685 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Bloomin’ Brands by 49.4% in the fourth quarter. Principal Financial Group Inc. now owns 75,509 shares of the restaurant operator’s stock worth $1,351,000 after purchasing an additional 24,980 shares during the period. Hedge funds and other institutional investors own 95.77% 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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