These Analysts Increase Their Forecasts On Bloomin' Brands After Upbeat Earnings
Portfolio Pulse from Avi Kapoor
Bloomin' Brands, Inc. (NASDAQ:BLMN) reported Q4 earnings surpassing expectations with an EPS of 75 cents against a forecast of 69 cents, though revenues slightly missed estimates. The company announced a quarterly dividend and a new share repurchase program, and provided FY24 guidance with adjusted EPS expectations of $2.51-$2.66. Following the report, Barclays and BMO Capital adjusted their price targets for BLMN upwards.
February 26, 2024 | 2:05 pm
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Bloomin' Brands reported higher-than-expected Q4 earnings, announced a dividend, a new share repurchase program, and provided optimistic FY24 EPS guidance. Barclays and BMO Capital raised their price targets.
The positive earnings report, coupled with the announcement of a dividend and a new share repurchase program, typically signals strong financial health and confidence from the company's management, likely leading to a positive short-term impact on the stock price. The upward revision of price targets by Barclays and BMO Capital further supports this positive outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100