In a challenging market environment, Bloomin’ Brands Inc. (NASDAQ:BLMN) stock has touched a 52-week low, dipping to $7.97, with a market capitalization now at $673.5 million. According to InvestingPro analysis, the stock appears undervalued at current levels. The company, known for its portfolio of casual dining restaurants, including Outback Steakhouse and Carrabba’s Italian Grill, has faced significant headwinds over the past year. This latest price level reflects a stark contrast to its performance over the past 12 months, with the stock experiencing a precipitous decline of -69.56% in its year-over-year change. Despite these challenges, the company maintains a notable 7.33% dividend yield and analysts have set price targets ranging from $9 to $15.50. Investors are closely monitoring the company’s strategic moves to navigate through the current economic pressures that have broadly impacted the restaurant industry. For deeper insights into BLMN’s financial health and growth prospects, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Bloomin’ Brands Inc. reported its fourth-quarter 2024 earnings, revealing a significant revenue shortfall. The company posted revenues of $972 million, missing the forecasted $1.09 billion by $118 million. Earnings per share (EPS) met expectations at $0.38. The company experienced an 8% decline in total revenues compared to the same period in 2023, with U.S. comparable restaurant sales decreasing by 1.10%. In terms of operational focus, Bloomin’ Brands is shifting its strategy from new developments to remodeling existing restaurants. Looking ahead, the company plans to open 18 to 20 new restaurants in the U.S. in 2025, with capital expenditures projected between $190 million and $210 million. Despite the challenges, CEO Mike Spanos expressed confidence in turning the business around, emphasizing the fixable nature of the company’s issues.
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