Bloomin’ Brands Inc (NASDAQ:BLMN) Expected to Post Quarterly Sales of $1.03 Billion

Wall Street analysts expect Bloomin’ Brands Inc (NASDAQ:BLMN) to post sales of $1.03 billion for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Bloomin’ Brands’ earnings, with the lowest sales estimate coming in at $1.01 billion and the highest estimate coming in at $1.04 billion. Bloomin’ Brands reported sales of $1.01 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 2%. The firm is scheduled to issue its next earnings report on Thursday, February 13th.

According to Zacks, analysts expect that Bloomin’ Brands will report full-year sales of $4.14 billion for the current year, with estimates ranging from $4.13 billion to $4.15 billion. For the next year, analysts forecast that the business will post sales of $4.23 billion, with estimates ranging from $4.20 billion to $4.28 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Bloomin’ Brands.

Bloomin’ Brands (NASDAQ:BLMN) last announced its earnings results on Wednesday, November 6th. The restaurant operator reported $0.10 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. Bloomin’ Brands had a net margin of 2.75% and a return on equity of 89.62%. The company had revenue of $967.14 million for the quarter, compared to analysts’ expectations of $967.04 million. During the same period last year, the firm earned $0.08 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis.

A number of brokerages recently issued reports on BLMN. Goldman Sachs Group began coverage on shares of Bloomin’ Brands in a research note on Thursday, December 12th. They issued a “buy” rating and a $25.00 price objective on the stock. BMO Capital Markets lifted their price objective on shares of Bloomin’ Brands from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Deutsche Bank cut shares of Bloomin’ Brands from a “buy” rating to a “hold” rating and decreased their price objective for the company from $23.00 to $21.00 in a research note on Monday, October 14th. JPMorgan Chase & Co. cut shares of Bloomin’ Brands from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $21.00 to $25.00 in a research note on Thursday, November 7th. They noted that the move was a valuation call. Finally, Morgan Stanley lifted their price objective on shares of Bloomin’ Brands from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $22.27.

Shares of BLMN traded up $0.13 during mid-day trading on Friday, hitting $22.25. 839,797 shares of the company’s stock were exchanged, compared to its average volume of 756,716. Bloomin’ Brands has a 52 week low of $15.12 and a 52 week high of $24.29. The stock’s 50-day simple moving average is $22.46 and its 200-day simple moving average is $19.60. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 1.30 and a beta of 0.33. The company has a quick ratio of 0.17, a current ratio of 0.27 and a debt-to-equity ratio of 15.62.

A number of large investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its stake in shares of Bloomin’ Brands by 24.8% during the third quarter. Envestnet Asset Management Inc. now owns 100,004 shares of the restaurant operator’s stock worth $1,893,000 after buying an additional 19,889 shares during the last quarter. Riverhead Capital Management LLC bought a new stake in shares of Bloomin’ Brands during the second quarter worth $144,000. BlackRock Inc. grew its stake in shares of Bloomin’ Brands by 91.6% during the second quarter. BlackRock Inc. now owns 14,314,548 shares of the restaurant operator’s stock worth $270,689,000 after buying an additional 6,842,170 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Bloomin’ Brands during the third quarter worth $819,000. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Bloomin’ Brands by 16.4% during the third quarter. Public Employees Retirement System of Ohio now owns 160,330 shares of the restaurant operator’s stock worth $3,035,000 after buying an additional 22,631 shares during the last quarter. 94.18% of the stock is currently owned by institutional investors and hedge funds.

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.

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