Bloomin’ Brands (NASDAQ:BLMN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $22.00 target price on the restaurant operator’s stock. Zacks Investment Research‘s target price suggests a potential upside of 8.59% from the company’s current price.
According to Zacks, “Bloomin’ Brands, Inc. is a casual dining restaurant company with a portfolio of differentiated restaurant concepts. It has five concepts: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse and Wine Bar and Roy’s. The Company offers its products and services through company owned and franchised locations throughout the United States and internationally. Bloomin’ Brands, Inc. is based in Tampa, Florida. “
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BLMN has been the subject of a number of other reports. Morgan Stanley upgraded shares of Bloomin’ Brands from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, December 19th. They noted that the move was a valuation call. BidaskClub lowered shares of Bloomin’ Brands from a “buy” rating to a “hold” rating in a research report on Saturday, January 19th. Bank of America lowered shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and set a $17.00 target price for the company. in a research report on Friday, February 8th. Barclays cut their target price on shares of Bloomin’ Brands from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, November 29th. Finally, William Blair upgraded shares of Bloomin’ Brands from a “market perform” rating to an “outperform” rating in a research report on Friday, February 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $21.67.
Shares of BLMN traded up $0.18 during mid-day trading on Tuesday, reaching $20.26. 1,570,779 shares of the stock traded hands, compared to its average volume of 1,491,727. The firm has a market capitalization of $1.90 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 1.50 and a beta of 0.33. The company has a debt-to-equity ratio of 18.69, a current ratio of 0.37 and a quick ratio of 0.29. Bloomin’ Brands has a 1 year low of $17.08 and a 1 year high of $25.00.
Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings results on Thursday, February 14th. The restaurant operator reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Bloomin’ Brands had a net margin of 2.60% and a return on equity of 162.52%. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. On average, analysts expect that Bloomin’ Brands will post 1.56 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. QS Investors LLC boosted its position in Bloomin’ Brands by 0.3% during the fourth quarter. QS Investors LLC now owns 193,301 shares of the restaurant operator’s stock valued at $3,459,000 after buying an additional 500 shares during the period. Brookmont Capital Management boosted its position in Bloomin’ Brands by 4.6% during the fourth quarter. Brookmont Capital Management now owns 15,605 shares of the restaurant operator’s stock valued at $279,000 after buying an additional 680 shares during the period. Advisor Group Inc. boosted its position in Bloomin’ Brands by 72.0% during the fourth quarter. Advisor Group Inc. now owns 3,233 shares of the restaurant operator’s stock valued at $57,000 after buying an additional 1,353 shares during the period. Menta Capital LLC raised its stake in shares of Bloomin’ Brands by 7.2% during the fourth quarter. Menta Capital LLC now owns 25,458 shares of the restaurant operator’s stock valued at $455,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Commonwealth Bank of Australia raised its stake in shares of Bloomin’ Brands by 11.9% during the fourth quarter. Commonwealth Bank of Australia now owns 16,900 shares of the restaurant operator’s stock valued at $302,000 after acquiring an additional 1,800 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.
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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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