Get ready for Bloomin’ Brands (BLMN) earnings, coming out before the bell on Friday, November 8th! The Tampa, Florida-based company, known for its beloved chains like Outback Steakhouse and Carrabba’s Italian Grill, is set to report its third-quarter financial results.
Analysts are expecting a dip in earnings, projecting a 20 cents per share profit compared to 44 cents in the same period last year. However, Bloomin’ Brands anticipates a solid $1.04 billion in revenue, slightly down from $1.08 billion a year earlier, according to data from Benzinga Pro.
This quarter holds particular significance as it follows the appointment of Michael L. Spanos as the new CEO in August. His leadership will be a key factor to watch as Bloomin’ Brands navigates the current economic landscape and evolving dining trends.
Curious about what Wall Street thinks? Let’s delve into recent analyst ratings to gauge their sentiment:
*
B of A Securities:
Analyst Justin Post maintains a Neutral rating on BLMN, lowering the price target from $22 to $19 on October 22nd. This analyst has an accuracy rate of 85%.*
Barclays:
Analyst Jeffrey Bernstein maintains an Overweight rating, but also cuts the price target from $22 to $20 on October 22nd. This analyst holds an accuracy rate of 64%.*
Citigroup:
Analyst Jon Tower sticks with a Neutral rating, lowering the price target from $22 to $20 on August 19th. This analyst has an accuracy rate of 74%.*
Deutsche Bank:
Analyst Lauren Silberman maintains a Hold rating, slashing the price target from $26 to $19 on August 7th. This analyst boasts an accuracy rate of 76%.*
UBS:
Analyst Dennis Geiger holds a Neutral rating, decreasing the price target from $26 to $18 on August 7th. This analyst has an accuracy rate of 68%.With mixed signals from analysts, it’s clear that Bloomin’ Brands’ future remains a topic of debate. Investors will be closely watching the upcoming earnings release for any hints on the company’s strategic direction and its ability to navigate the evolving restaurant landscape.
