Bloomin’ Brands, Inc. (NASDAQ:BLMN) Expected to Announce Quarterly Sales of $1.05 Billion

Wall Street analysts expect Bloomin’ Brands, Inc. (NASDAQ:BLMN) to announce sales of $1.05 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Bloomin’ Brands’ earnings. The lowest sales estimate is $1.03 billion and the highest is $1.07 billion. Bloomin’ Brands posted sales of $578.46 million in the same quarter last year, which suggests a positive year-over-year growth rate of 81.5%. The business is scheduled to issue its next earnings results before the market opens on Friday, July 30th.

On average, analysts expect that Bloomin’ Brands will report full-year sales of $4.11 billion for the current year, with estimates ranging from $4.03 billion to $4.15 billion. For the next year, analysts anticipate that the company will post sales of $4.38 billion, with estimates ranging from $4.27 billion to $4.46 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Bloomin’ Brands.

Bloomin’ Brands (NASDAQ:BLMN) last posted its earnings results on Wednesday, April 28th. The restaurant operator reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.40. The business had revenue of $987.47 million for the quarter, compared to analysts’ expectations of $954.62 million. Bloomin’ Brands had a negative net margin of 1.75% and a negative return on equity of 17.90%.

A number of equities research analysts have weighed in on the stock. MKM Partners upped their price target on shares of Bloomin’ Brands from $33.00 to $41.00 in a report on Friday, April 30th. Zacks Investment Research downgraded Bloomin’ Brands from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 14th. Raymond James increased their price objective on Bloomin’ Brands from $32.50 to $37.50 and gave the stock a “strong-buy” rating in a report on Friday, April 30th. Morgan Stanley upped their target price on Bloomin’ Brands from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, April 30th. Finally, Wells Fargo & Company decreased their target price on Bloomin’ Brands from $37.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $29.88.

Shares of BLMN traded down $0.41 during midday trading on Friday, hitting $25.71. 62,214 shares of the stock traded hands, compared to its average volume of 1,352,401. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -33.49, a PEG ratio of 4.56 and a beta of 2.15. The company’s 50 day simple moving average is $27.61. Bloomin’ Brands has a 1-year low of $10.23 and a 1-year high of $32.81. The company has a debt-to-equity ratio of 20.96, a current ratio of 0.29 and a quick ratio of 0.24.

In other news, COO Gregg Scarlett sold 135,929 shares of Bloomin’ Brands stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $30.73, for a total transaction of $4,177,098.17. Following the completion of the transaction, the chief operating officer now directly owns 65,189 shares in the company, valued at approximately $2,003,257.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.62% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in shares of Bloomin’ Brands by 6,339.7% during the 1st quarter. SG Americas Securities LLC now owns 347,229 shares of the restaurant operator’s stock valued at $9,393,000 after acquiring an additional 341,837 shares during the period. New York State Common Retirement Fund increased its stake in shares of Bloomin’ Brands by 72.1% in the first quarter. New York State Common Retirement Fund now owns 134,565 shares of the restaurant operator’s stock valued at $3,640,000 after buying an additional 56,365 shares during the period. M&T Bank Corp bought a new stake in shares of Bloomin’ Brands during the 1st quarter valued at about $347,000. Citigroup Inc. boosted its position in shares of Bloomin’ Brands by 256.9% during the 4th quarter. Citigroup Inc. now owns 27,343 shares of the restaurant operator’s stock valued at $531,000 after purchasing an additional 19,682 shares in the last quarter. Finally, Zacks Investment Management bought a new position in Bloomin’ Brands in the fourth quarter worth approximately $6,036,000.

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

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Earnings History and Estimates for Bloomin` Brands (NASDAQ:BLMN)

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