Bloomin’ Brands (NASDAQ:BLMN) Price Target Cut to $19.00

Bloomin’ Brands (NASDAQ:BLMN) had its price target dropped by research analysts at Deutsche Bank Aktiengesellschaft from $26.00 to $19.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the restaurant operator’s stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 11.83% from the company’s current price.

BLMN has been the subject of several other research reports. Morgan Stanley cut their price objective on Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. UBS Group cut their price target on Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday. Barclays decreased their price objective on shares of Bloomin’ Brands from $30.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of Bloomin’ Brands from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, May 28th. Finally, BMO Capital Markets decreased their price target on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating on the stock in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $23.33.

Bloomin’ Brands Stock Performance

Shares of NASDAQ BLMN traded up $0.01 during mid-day trading on Wednesday, hitting $16.99. The company had a trading volume of 802,918 shares, compared to its average volume of 1,480,179. Bloomin’ Brands has a 12 month low of $16.20 and a 12 month high of $30.13. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.33 and a quick ratio of 0.26. The firm has a market cap of $1.47 billion, a P/E ratio of 26.80 and a beta of 2.04. The business’s 50-day simple moving average is $19.26 and its 200-day simple moving average is $23.96.

Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Tuesday, August 6th. The restaurant operator reported $0.51 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.07). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.13 billion. Bloomin’ Brands had a return on equity of 65.73% and a net margin of 1.56%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the business earned $0.74 earnings per share. As a group, analysts predict that Bloomin’ Brands will post 2.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bloomin’ Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Annex Advisory Services LLC raised its stake in shares of Bloomin’ Brands by 27.7% during the 1st quarter. Annex Advisory Services LLC now owns 295,261 shares of the restaurant operator’s stock worth $8,468,000 after purchasing an additional 64,006 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in shares of Bloomin’ Brands in the 1st quarter valued at about $2,042,000. Dimensional Fund Advisors LP lifted its stake in Bloomin’ Brands by 4.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,509,269 shares of the restaurant operator’s stock valued at $70,637,000 after purchasing an additional 104,368 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in Bloomin’ Brands by 34.9% in the 4th quarter. First Eagle Investment Management LLC now owns 163,419 shares of the restaurant operator’s stock valued at $4,600,000 after purchasing an additional 42,315 shares during the last quarter. Finally, Lighthouse Investment Partners LLC bought a new position in Bloomin’ Brands during the fourth quarter worth about $4,222,000.

About Bloomin’ Brands

Bloomin' Brands, Inc, through its subsidiaries, owns and operates casual, upscale casual, and fine dining restaurants in the United States and internationally. The company operates through two segments, U.S. and International. Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba's Italian Grill, a casual Italian restaurant; Bonefish Grill; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.