No local restaurants affected by Bloomin' Brands closures
- Author: Zachary Reyes Feb 24, 2017,
Feb 24, 2017, 9:14
Bloomin' Brands (NASDAQ:BLMN) last posted its quarterly earnings data on Friday, February 17th.
Bloomin Brands said same-store sales at its flagship Outback Steakhouse chain fell 4.8 percent in the quarter that ended December 25, the news site reported.
Bloomin' Brands Inc Last issued its quarterly earnings results on Feb 17, 2017.
Bloomin Brands, Inc. (NASDAQ:BLMN) witnessed a decline in the market cap on Wednesday as its shares dropped 4.99% or 0.94 points. The stock was last seen -0.21% lower, reaching at $18.82 on February 21, 2017. The stock has a market capitalization of $1.98 billion, a P/E ratio of 50.97 and a beta of 0.83. Over the 52-week time span, the stock notched a high price of $19.99 and its minimum price was $15.82.
"Although 2016 was a challenging year for both Bloomin' Brands and the industry, we made real progress on our strategy to reallocate spending away from discounting toward investments to strengthen brand health", Smith said in the release. Using all the ratings on Bloomin' Brands, Inc. (NASDAQ:BLMN) for the current quarter is 10.6 percent. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company's stock.
When the current quarter ends, Wall Street expects Bloomin' Brands, Inc.to have earnings per share of $0.52. Royal Bank of Canada now owns 12,057 shares of the company's stock worth $215,000 after buying an additional 5,107 shares in the last quarter. Bloomin' Brands updated its FY17 guidance to $1.40-1.47 EPS. The company's revenue was down 4.3% compared to the same quarter previous year. The business earned $1 billion during the quarter, compared to analysts' expectations of $1.02 billion. According to them, the median (average) EPS the company could deliver is 0.52/share. The Q2 2017 consensus earnings estimates for the company have stabilized at US$0.3 per share. The company has a 50-day moving average of $17.54 and a 200-day moving average of $18.15. The company has a consensus rating of "Hold" and an average target price of $20.00. Bloomin' Brands, Inc.is based in Tampa, Florida. Hedge funds and other institutional investors own 95.31% of the company's stock.
Bloomin' Brands announced last week that some Outback Steakhouse, Bonefish Grill and Carrabba's restaurants will be closing this year.
Cathie Koch, vice president of corporate communications for Bloomin' Brands, responded Wednedsay morning to a Telegraph inquiry about local restaurants. The Company offers its products and services through company owned and franchised locations throughout the United States and internationally.