Bloomin' Brands (BLMN) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Bloomin' Brands (BLMN) closed at $26.64, marking a +0.99% move from the previous day. This change outpaced the S&P 500's 0.69% gain on the day. Elsewhere, the Dow gained 0.43%, while the tech-heavy Nasdaq lost 8.94%.
Prior to today's trading, shares of the owner of Outback Steakhouse and other casual dining spots had gained 12.3% over the past month. This has outpaced the Retail-Wholesale sector's gain of 4.22% and the S&P 500's gain of 5.41% in that time.
Bloomin' Brands will be looking to display strength as it nears its next earnings release. On that day, Bloomin' Brands is projected to report earnings of $0.65 per share, which would represent a year-over-year decline of 4.41%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.15 billion, up 2.57% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.93 per share and revenue of $4.74 billion. These totals would mark changes of +16.27% and +7.4%, respectively, from last year.
Any recent changes to analyst estimates for Bloomin' Brands should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Bloomin' Brands currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Bloomin' Brands currently has a Forward P/E ratio of 9.01. This valuation marks a discount compared to its industry's average Forward P/E of 22.67.
Investors should also note that BLMN has a PEG ratio of 0.76 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BLMN's industry had an average PEG ratio of 1.95 as of yesterday's close.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 42, putting it in the top 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BLMN in the coming trading sessions, be sure to utilize Zacks.com.
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Bloomin' Brands, Inc. (BLMN) : Free Stock Analysis Report
