Bloomin’ Brands (NASDAQ:BLMN) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Bloomin’ Brands (NASDAQ:BLMN) issued its quarterly earnings data on Friday. The restaurant operator reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02, Briefing.com reports. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Bloomin’ Brands had a return on equity of 61.90% and a net margin of 0.70%. Bloomin’ Brands’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.

Bloomin’ Brands Stock Down 9.7 %

BLMN traded down $1.63 during midday trading on Friday, reaching $15.15. The company’s stock had a trading volume of 5,143,239 shares, compared to its average volume of 1,485,407. Bloomin’ Brands has a 1 year low of $14.72 and a 1 year high of $30.13. The company has a current ratio of 0.35, a quick ratio of 0.26 and a debt-to-equity ratio of 3.46. The stock’s 50-day moving average is $16.42 and its 200-day moving average is $18.88. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 58.27 and a beta of 2.04.

Wall Street Analysts Forecast Growth

BLMN has been the topic of several recent analyst reports. UBS Group dropped their target price on shares of Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Citigroup lowered their price target on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Bank of America dropped their price objective on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. StockNews.com raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.33.

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