- Oops!Something went wrong.Please try again later.
Bloomin' Brands (BLMN) shares rallied 8.9% in the last trading session to close at $31.38. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.5% gain over the past four weeks.
Shares of Bloomin' Brands appreciated after the company reported better-than-expected first-quarter 2021 results. The company reported adjusted earnings per share of 72 cents beating the Zacks Consensus Estimate of 34 cents.
Price and Consensus
This owner of Outback Steakhouse and other casual dining spots is expected to post quarterly earnings of $0.34 per share in its upcoming report, which represents a year-over-year change of +142.9%. Revenues are expected to be $954.62 million, down 5.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Bloomin' Brands, the consensus EPS estimate for the quarter has been revised 27.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on BLMN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Bloomin Brands, Inc. (BLMN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research