Bloomin' Brands (BLMN) closed the most recent trading day at $24.39, moving -1.49% from the previous trading session. This change lagged the S&P 500's 0.01% loss on the day. Meanwhile, the Dow lost 0.23%, and the Nasdaq, a tech-heavy index, added 0.97%.
Coming into today, shares of the owner of Outback Steakhouse and other casual dining spots had lost 5.21% in the past month. In that same time, the Retail-Wholesale sector gained 4.79%, while the S&P 500 gained 6.23%.
Bloomin' Brands will be looking to display strength as it nears its next earnings release, which is expected to be April 28, 2023. In that report, analysts expect Bloomin' Brands to post earnings of $0.88 per share. This would mark year-over-year growth of 10%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.21 billion, up 6.09% 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 $4.73 billion. These totals would mark changes of +16.27% and +7.13%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Bloomin' Brands. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.18% higher. Bloomin' Brands is currently a Zacks Rank #3 (Hold).
Investors should also note Bloomin' Brands's current valuation metrics, including its Forward P/E ratio of 8.45. This valuation marks a discount compared to its industry's average Forward P/E of 24.06.
Meanwhile, BLMN's PEG ratio is currently 0.69. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Retail - Restaurants was holding an average PEG ratio of 1.97 at yesterday's closing price.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 61, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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