Bloomin' Brands (BLMN) Prints a High Quality Beat with Dividend Reinstated - Jefferies

May 2, 2022 9:27 AM EDT
Get Alerts BLMN Hot Sheet
Price: $19.16 -2.64%

Rating Summary:
    17 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 9 | New: 24
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Jefferies analyst Andy Barish reiterated a Buy rating and $36.00 price target on Bloomin' Brands (NASDAQ: BLMN) after the company beat across all key metrics with SSS +14%, op margin 9.4% & EPS $0.80 firmly ahead of Street's 11%/8.7%/$0.73.

The analyst stated "we see dine-in gains continuing and its robust off-premise biz proving to be stickier than expected. We view TSR profile as attractive with the B/S in great shape, dividend reinstated & $99M remaining on share repurchase authorization. With the stock at <5x '23 EBITDA vs category avg of 7.2x and top-performing peers at 10-11x, we see plenty of room for more positive sentiment as cost environment eventually normalizes & BLMN's mkt share oppty becomes more obvious as capacity contracts in the category."

For an analyst ratings summary and ratings history on Bloomin' Brands click here. For more ratings news on Bloomin' Brands click here.

Shares of Bloomin' Brands closed at $21.99 yesterday.

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