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Bloomin’ Brands Gears Up For Q4 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

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Bloomin’ Brands, Inc. BLMN is expected to release earnings results for its fiscal fourth quarter, before the opening bell on Feb. 23, 2024.

Analysts expect the company to report quarterly earnings at 69 cents per share, up from year-ago earnings of 68 cents per share. The company is projected to post revenue of $1.2 billion for the latest quarter, compared to $1.1 billion in the year-earlier quarter, according to data from Benzinga Pro.

Bloomin’ Brands, last month, entered into a cooperation agreement with Starboard Value LP, which owns approximately 9.7% of the company’s outstanding common stock.

In connection with the agreement, the company appointed Dave George, former Chief Operating Officer of Darden Restaurants, and Jon Sagal, Partner at Starboard, to its Board of Directors, effective immediately.

Bloomin’ Brands shares fell 0.6% to close at $26.60 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

  • Citigroup analyst Jon Tower maintained a Neutral rating and increased the price target from $25 to $29 on Feb. 15, 2024. This analyst has an accuracy rate of 74%.
  • JP Morgan analyst John Ivankoe downgraded the stock from Overweight to Neutral with a price target of $26 on Jan. 23, 2024. This analyst has an accuracy rate of 70%.
  • Raymond James analyst Brian Vaccaro maintained an Outperform rating and raised the price target from $28 to $30 on Jan. 3, 2024. This analyst has an accuracy rate of 82%.
  • BMO Capital analyst Andrew Strelzik maintained a Market Perform rating and cut the price target from $25 to $24 on Nov. 7, 2023. This analyst has an accuracy rate of 84%.
  • Piper Sandler analyst Brian Mullan maintained a Neutral rating and slashed the price target from $30 to $26 on Nov. 6, 2023. This analyst has an accuracy rate of 85%.

 

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