Bloomin’ Brands, Inc. (NASDAQ:BLMN) Given Average Recommendation of “Reduce” by Brokerages

Bloomin’ Brands, Inc. (NASDAQ:BLMN) has been given an average recommendation of “Reduce” by the eleven brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating and ten have given a hold rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $16.90.

A number of research analysts have recently commented on BLMN shares. UBS Group decreased their price objective on shares of Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Barclays reiterated an “equal weight” rating and set a $13.00 price target (down previously from $19.00) on shares of Bloomin’ Brands in a report on Tuesday, January 7th. Raymond James lowered Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. reduced their target price on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, November 12th. Finally, Piper Sandler dropped their price target on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th.

Bloomin’ Brands Stock Performance

BLMN opened at $12.33 on Monday. The business’s 50-day simple moving average is $12.42 and its 200 day simple moving average is $15.37. Bloomin’ Brands has a 52-week low of $11.03 and a 52-week high of $30.13. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31. The firm has a market capitalization of $1.05 billion, a PE ratio of -112.08 and a beta of 1.97.

Bloomin’ Brands (NASDAQ:BLMN) last announced 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. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the business posted $0.44 EPS. The business’s revenue was down 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that Bloomin’ Brands will post 1.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bloomin’ Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Erste Asset Management GmbH acquired a new position in shares of Bloomin’ Brands in the third quarter valued at about $41,325,000. Millennium Management LLC grew its position in shares of Bloomin’ Brands by 2,520.7% during the 2nd quarter. Millennium Management LLC now owns 468,507 shares of the restaurant operator’s stock worth $9,009,000 after purchasing an additional 450,630 shares in the last quarter. FMR LLC grew its position in shares of Bloomin’ Brands by 34.8% during the 3rd 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 in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Bloomin’ Brands by 58.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 691,585 shares of the restaurant operator’s stock worth $11,432,000 after purchasing an additional 254,570 shares during the period. Finally, Systematic Financial Management LP raised its position in shares of Bloomin’ Brands by 76.5% in the second quarter. Systematic Financial Management LP now owns 544,742 shares of the restaurant operator’s stock valued at $10,475,000 after buying an additional 236,037 shares in 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.