Zacks Investment Research Upgrades Bloomin’ Brands Inc. (BLMN) to Hold
Bloomin’ Brands Inc. (NASDAQ:BLMN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
Several other research analysts have also recently weighed in on the company. TheStreet cut Bloomin’ Brands from a “buy” rating to a “hold” rating in a research report on Friday, June 17th. BMO Capital Markets reiterated an “outperform” rating and set a $22.00 price objective on shares of Bloomin’ Brands in a research report on Tuesday, August 2nd. Finally, Raymond James Financial Inc. reiterated an “outperform” rating and set a $21.00 price objective on shares of Bloomin’ Brands in a research report on Friday, July 15th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $20.92.
Shares of Bloomin’ Brands (NASDAQ:BLMN) traded down 1.10% on Tuesday, reaching $17.03. 1,009,908 shares of the company traded hands. The company has a market capitalization of $1.93 billion, a P/E ratio of 35.19 and a beta of 0.84. Bloomin’ Brands has a one year low of $14.91 and a one year high of $19.89. The firm’s 50 day moving average is $18.37 and its 200 day moving average is $18.40.
Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. Bloomin’ Brands had a return on equity of 38.79% and a net margin of 1.38%. The business earned $1.07 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm posted $0.28 EPS. The company’s quarterly revenue was down 1.9% on a year-over-year basis. Analysts expect that Bloomin’ Brands will post $1.34 earnings per share for the current fiscal year.
In other Bloomin’ Brands news, EVP Michael Kappitt sold 10,000 shares of Bloomin’ Brands stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $19.50, for a total value of $195,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Chris Thomas Sullivan sold 133,000 shares of Bloomin’ Brands stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $19.02, for a total value of $2,529,660.00. The disclosure for this sale can be found here. 6.68% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in BLMN. Neuberger Berman Group LLC purchased a new stake in shares of Bloomin’ Brands during the second quarter worth approximately $42,232,000. Wellington Management Group LLP raised its stake in shares of Bloomin’ Brands by 28.1% in the first quarter. Wellington Management Group LLP now owns 6,440,548 shares of the company’s stock worth $108,652,000 after buying an additional 1,411,587 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Bloomin’ Brands during the second quarter worth approximately $18,843,000. Rothschild Asset Management Inc. purchased a new stake in shares of Bloomin’ Brands during the second quarter worth approximately $13,707,000. Finally, Strs Ohio raised its stake in shares of Bloomin’ Brands by 178.9% in the second quarter. Strs Ohio now owns 1,110,700 shares of the company’s stock worth $19,848,000 after buying an additional 712,400 shares during the last quarter. 93.55% of the stock is currently owned by hedge funds and other institutional investors.
Bloomin’ Brands Company Profile
Bloomin’ Brands, Inc (Bloomin’ Brands) is a holding company engaged in operating casual dining restaurants. The Company has a portfolio of four restaurant concepts: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar. The Company owns and operates approximately 1,340 restaurants and franchises over 170 restaurants across approximately 50 states, Puerto Rico, Guam and approximately 20 countries.
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