Bloomin’ Brands, Inc. (NASDAQ:BLMN) Expected to Post Quarterly Sales of $1.04 Billion

Equities research analysts expect Bloomin’ Brands, Inc. (NASDAQ:BLMN) to report $1.04 billion in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Bloomin’ Brands’ earnings. The highest sales estimate is $1.05 billion and the lowest is $1.02 billion. Bloomin’ Brands reported sales of $771.26 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 34.8%. The company is scheduled to announce its next quarterly earnings results on Friday, October 22nd.

On average, analysts expect that Bloomin’ Brands will report full-year sales of $4.21 billion for the current year, with estimates ranging from $4.18 billion to $4.23 billion. For the next financial year, analysts forecast that the company will post sales of $4.49 billion, with estimates ranging from $4.40 billion to $4.64 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Bloomin’ Brands.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings data on Thursday, July 29th. The restaurant operator reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.14. Bloomin’ Brands had a net margin of 3.28% and a return on equity of 251.96%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the firm posted ($0.74) EPS. The business’s revenue for the quarter was up 86.2% on a year-over-year basis.

Several brokerages recently weighed in on BLMN. Barclays raised their price objective on shares of Bloomin’ Brands from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, August 2nd. Gordon Haskett upgraded shares of Bloomin’ Brands from a “hold” rating to a “buy” rating in a research note on Friday, May 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Bloomin’ Brands from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Monday, August 2nd. Zacks Investment Research downgraded shares of Bloomin’ Brands from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 14th. Finally, Credit Suisse Group raised Bloomin’ Brands from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $32.00 to $33.00 in a report on Tuesday, August 3rd. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $32.54.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its stake in Bloomin’ Brands by 6,339.7% in 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 in the last quarter. Empowered Funds LLC bought a new stake in Bloomin’ Brands in the 2nd quarter valued at approximately $1,680,000. Victory Capital Management Inc. lifted its stake in Bloomin’ Brands by 20.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,293,606 shares of the restaurant operator’s stock valued at $35,108,000 after acquiring an additional 221,410 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Bloomin’ Brands by 72.1% in the 1st quarter. New York State Common Retirement Fund now owns 134,565 shares of the restaurant operator’s stock valued at $3,640,000 after acquiring an additional 56,365 shares in the last quarter. Finally, M&T Bank Corp bought a new stake in Bloomin’ Brands in the 1st quarter valued at approximately $347,000.

Shares of NASDAQ BLMN traded up $0.05 during mid-day trading on Monday, reaching $25.41. The company had a trading volume of 2,405,526 shares, compared to its average volume of 1,876,526. The stock has a fifty day moving average of $25.82 and a two-hundred day moving average of $27.24. The company has a debt-to-equity ratio of 5.49, a quick ratio of 0.21 and a current ratio of 0.27. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 3.55 and a beta of 2.17. Bloomin’ Brands has a 12-month low of $13.66 and a 12-month high of $32.81.

Bloomin’ Brands Company Profile

Bloomin’ Brands, Inc engages in the acquisition, operation, design and development of restaurant concepts. It operates through the following segments: U.S. and International. The U.S. segment operates in USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.

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

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