Bloomin’ Brands Inc (BLMN) Expected to Post Quarterly Sales of $996.15 Million

Brokerages expect that Bloomin’ Brands Inc (NASDAQ:BLMN) will report $996.15 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Bloomin’ Brands’ earnings, with the lowest sales estimate coming in at $984.60 million and the highest estimate coming in at $1.01 billion. Bloomin’ Brands reported sales of $1.09 billion during the same quarter last year, which would indicate a negative year over year growth rate of 8.6%. The business is expected to announce its next earnings report on Thursday, February 28th.

According to Zacks, analysts expect that Bloomin’ Brands will report full-year sales of $4.11 billion for the current year, with estimates ranging from $4.09 billion to $4.12 billion. For the next financial year, analysts anticipate that the firm will report sales of $4.20 billion, with estimates ranging from $4.16 billion to $4.23 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Bloomin’ Brands.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings results on Monday, October 29th. The restaurant operator reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.01. The firm had revenue of $965.00 million for the quarter, compared to the consensus estimate of $965.17 million. Bloomin’ Brands had a net margin of 2.68% and a return on equity of 196.28%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 EPS.

A number of research analysts have recently issued reports on the stock. Barclays dropped their price target on shares of Bloomin’ Brands from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, November 29th. JPMorgan Chase & Co. upgraded shares of Bloomin’ Brands from a “neutral” rating to an “overweight” rating and set a $23.00 target price on the stock in a research report on Tuesday. Gordon Haskett began coverage on shares of Bloomin’ Brands in a research report on Thursday, October 18th. They set a “buy” rating and a $23.00 target price on the stock. Zacks Investment Research upgraded shares of Bloomin’ Brands from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Thursday, December 13th. Finally, BidaskClub upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Bloomin’ Brands has an average rating of “Hold” and a consensus price target of $22.22.

In other Bloomin’ Brands news, Director Mindy F. Grossman sold 8,000 shares of the company’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $20.96, for a total transaction of $167,680.00. Following the transaction, the director now owns 9,790 shares in the company, valued at $205,198.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 7.47% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Bloomin’ Brands by 3.6% during the third quarter. Vanguard Group Inc. now owns 11,808,062 shares of the restaurant operator’s stock worth $233,681,000 after buying an additional 404,855 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Bloomin’ Brands by 3.6% in the 3rd quarter. Vanguard Group Inc now owns 11,808,062 shares of the restaurant operator’s stock worth $233,681,000 after acquiring an additional 404,855 shares in the last quarter. BlackRock Inc. grew its stake in shares of Bloomin’ Brands by 8.0% in the 2nd quarter. BlackRock Inc. now owns 7,189,407 shares of the restaurant operator’s stock worth $144,507,000 after acquiring an additional 532,417 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Bloomin’ Brands by 19.0% in the 3rd quarter. Alliancebernstein L.P. now owns 6,104,179 shares of the restaurant operator’s stock worth $120,802,000 after acquiring an additional 973,390 shares in the last quarter. Finally, LSV Asset Management grew its stake in shares of Bloomin’ Brands by 0.5% in the 3rd quarter. LSV Asset Management now owns 2,936,420 shares of the restaurant operator’s stock worth $58,111,000 after acquiring an additional 15,500 shares in the last quarter. Hedge funds and other institutional investors own 95.57% of the company’s stock.

Shares of NASDAQ BLMN traded down $0.07 during midday trading on Friday, reaching $19.69. The stock had a trading volume of 966,800 shares, compared to its average volume of 1,470,925. The company has a market capitalization of $1.82 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 1.36 and a beta of 0.35. Bloomin’ Brands has a twelve month low of $17.08 and a twelve month high of $25.00. The company has a debt-to-equity ratio of 18.69, a quick ratio of 0.29 and a current ratio of 0.37.

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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.

Further Reading: Institutional Investors

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