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Bear of the Day: Bloomin Brands (BLMN)

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There is no question that the pandemic was the straw that broke the camel’s back for several restaurants all across the US. As the world crawled out from underneath the curtain of closures, it looked like this industry was going to bounce back. However, it appears that for at least a few of these restaurants, the optimism sort of “out-kicked the coverage.” What I mean by that is, folks simply got a little to bullish about how strong the bounce-back would be.

One such stock that is not quite bouncing back as strong as the market would have liked is today’s Bear of the Day. I’m talking about Bloomin’ Brands BLMN. Bloomin' Brands, Inc., through its subsidiaries, owns and operates casual, upscale casual, and fine dining restaurants in the United States and internationally. The company operates through two segments, U.S. and International. Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba's Italian Grill, a casual Italian restaurant; Bonefish Grill, a casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.

Bloomin' Brands, Inc. Price and Consensus

Bloomin' Brands, Inc. Price and Consensus
Bloomin' Brands, Inc. Price and Consensus

Bloomin' Brands, Inc. price-consensus-chart | Bloomin' Brands, Inc. Quote

Currently, Bloomin’ Brands is a Zacks Rank #5 (Strong Sell), although it does enjoy the rare instance of having a Zacks Value Style Score of A, Growth of A, and Momentum of B to help it round out with a VGM Composite Score of A. The Retail- Restaurants industry ranks in the Bottom 8% of our Zacks Industry Rank. The reason for the unfavorable rank is the series of negative earnings estimate revisions coming from analysts. Over the last sixty days, six analysts have cut their estimates for not only the current year but next year. The bearish moves have cut the Zacks Consensus Estimates for the current year from $2.81 to $2.62 while next year’s number is off from $2.86 to $2.53.

Other stocks within the same industry which are in the good graces of the Zacks Rank include Zacks Rank #2 (Buy) stocks Noodles & Company NDLS and Papa John’s PZZA.

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