Bloomin' Brands Analysts Cut Their Forecasts After Q3 Results
Portfolio Pulse from Lisa Levin
Bloomin' Brands reported Q3 FY23 sales growth of 2.3% to $1.079 billion, missing the analyst consensus estimate. Adjusted EPS of $0.44 beat the consensus. The company cut FY23 U.S. comparable restaurant sales and adjusted EPS guidance. Following the earnings announcement, analysts from Raymond James, Barclays, and Piper Sandler cut their price targets on Bloomin' Brands.
November 06, 2023 | 5:43 pm
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Bloomin' Brands reported mixed Q3 results and cut its FY23 guidance, leading to a drop in its stock price and analysts cutting their price targets.
Bloomin' Brands reported lower than expected sales growth and cut its FY23 guidance, which is likely to negatively impact investor sentiment and the stock price. This is reflected in the stock's 2.1% drop and analysts from Raymond James, Barclays, and Piper Sandler cutting their price targets.
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IMPORTANCE 80
RELEVANCE 100