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

Bloomin’ Brands (NASDAQ:BLMN) had its price target decreased by Bank of America from $22.00 to $19.00 in a research note released on Tuesday, Benzinga reports. Bank of America currently has a neutral rating on the restaurant operator’s stock.

Other research analysts have also recently issued reports about the stock. Morgan Stanley dropped their target price on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Barclays reduced their price objective on Bloomin’ Brands from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday. Citigroup lowered their target price on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. UBS Group dropped their price target on Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, BMO Capital Markets decreased their price objective on Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Bloomin’ Brands presently has an average rating of “Hold” and a consensus price target of $21.80.

Bloomin’ Brands Trading Down 0.3 %

NASDAQ:BLMN opened at $15.96 on Tuesday. Bloomin’ Brands has a 52 week low of $15.14 and a 52 week high of $30.13. The firm has a 50-day moving average price of $16.70 and a two-hundred day moving average price of $19.62. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.26 and a current ratio of 0.35. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 24.94 and a beta of 2.04.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings results on Tuesday, August 6th. The restaurant operator reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.07). The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Bloomin’ Brands had a net margin of 0.70% and a return on equity of 61.90%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 earnings per share. On average, equities analysts expect that Bloomin’ Brands will post 2.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bloomin’ Brands

Hedge funds have recently bought and sold shares of the company. Deprince Race & Zollo Inc. purchased a new stake in Bloomin’ Brands in the 2nd quarter worth approximately $28,672,000. Victory Capital Management Inc. boosted its stake in Bloomin’ Brands by 29.6% during the second quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator’s stock valued at $47,923,000 after buying an additional 569,855 shares during the period. Millennium Management LLC increased its stake in Bloomin’ Brands by 2,520.7% in the 2nd quarter. Millennium Management LLC now owns 468,507 shares of the restaurant operator’s stock worth $9,009,000 after acquiring an additional 450,630 shares during the last quarter. Systematic Financial Management LP raised its holdings in shares of Bloomin’ Brands by 76.5% in the 2nd quarter. Systematic Financial Management LP now owns 544,742 shares of the restaurant operator’s stock valued at $10,475,000 after acquiring an additional 236,037 shares in the last quarter. Finally, BW Gestao de Investimentos Ltda. boosted its position in shares of Bloomin’ Brands by 45.7% during the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 457,704 shares of the restaurant operator’s stock valued at $8,802,000 after acquiring an additional 143,485 shares during the last quarter.

Bloomin’ Brands Company Profile

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.