Bloomin’ Brands (NASDAQ:BLMN) Given Equal Weight Rating at Barclays

Bloomin’ Brands (NASDAQ:BLMN)‘s stock had its “equal weight” rating restated by investment analysts at Barclays in a research report issued on Tuesday, MarketBeat reports. They presently have a $13.00 target price on the restaurant operator’s stock, down from their previous target price of $19.00. Barclays‘s price objective indicates a potential upside of 9.98% from the company’s previous close.

A number of other equities analysts have also recently commented on the stock. StockNews.com upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group assumed coverage on Bloomin’ Brands in a report on Thursday, December 5th. They set a “sell” rating and a $13.00 target price for the company. JPMorgan Chase & Co. decreased their price target on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 12th. Raymond James lowered Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. Finally, Piper Sandler decreased their target price on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to MarketBeat.com, Bloomin’ Brands currently has an average rating of “Hold” and an average price target of $16.90.

Bloomin’ Brands Stock Down 0.4 %

BLMN opened at $11.82 on Tuesday. The firm has a market capitalization of $1.00 billion, a P/E ratio of -107.44 and a beta of 1.97. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22. The company has a fifty day moving average price of $13.32 and a 200-day moving average price of $15.99. Bloomin’ Brands has a one year low of $11.24 and a one year high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings data on Friday, November 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. The firm’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. Equities research analysts expect that Bloomin’ Brands will post 1.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Erste Asset Management GmbH bought a new stake in shares of Bloomin’ Brands during the 3rd quarter valued at $41,325,000. Deprince Race & Zollo Inc. bought a new position in shares of Bloomin’ Brands in the 2nd quarter worth about $28,672,000. Victory Capital Management Inc. lifted its position in Bloomin’ Brands by 29.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator’s stock valued at $47,923,000 after acquiring an additional 569,855 shares during the period. Millennium Management LLC boosted its stake in Bloomin’ Brands by 2,520.7% during the second 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 in the last quarter. Finally, FMR LLC grew its holdings in Bloomin’ Brands by 34.8% in the third quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock worth $22,830,000 after purchasing an additional 356,456 shares during the period.

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.