Bank of America Lowers Bloomin’ Brands (NASDAQ:BLMN) Price Target to $19.00

Bloomin’ Brands (NASDAQ:BLMN) had its price target cut by equities research analysts at Bank of America from $22.00 to $19.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the restaurant operator’s stock. Bank of America‘s target price would indicate a potential upside of 19.20% from the company’s previous close.

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

Bloomin’ Brands Stock Down 0.3 %

BLMN stock opened at $15.94 on Tuesday. The business has a 50 day moving average of $16.75 and a 200 day moving average of $19.72. The firm has a market cap of $1.38 billion, a PE ratio of 24.91 and a beta of 2.04. Bloomin’ Brands has a twelve month low of $15.14 and a twelve month high of $30.13. The company has a quick ratio of 0.26, a current ratio of 0.35 and a debt-to-equity ratio of 3.46.

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

Institutional Investors Weigh In On Bloomin’ Brands

A number of hedge funds have recently modified their holdings of BLMN. Headlands Technologies LLC bought a new position in Bloomin’ Brands in the 1st quarter worth $30,000. EntryPoint Capital LLC increased its position in Bloomin’ Brands by 6,454.9% in the first quarter. EntryPoint Capital LLC now owns 3,343 shares of the restaurant operator’s stock worth $96,000 after buying an additional 3,292 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Bloomin’ Brands in the second quarter worth about $111,000. Point72 DIFC Ltd bought a new position in shares of Bloomin’ Brands in the second quarter worth about $169,000. Finally, Bayesian Capital Management LP purchased a new position in shares of Bloomin’ Brands during the 1st quarter valued at about $219,000.

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.