Brokerages Set Bloomin’ Brands, Inc. (NASDAQ:BLMN) PT at $9.88

Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) have received an average recommendation of “Reduce” from the eleven research firms that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $9.8750.

Several research firms have recently commented on BLMN. Zacks Research lowered Bloomin’ Brands from a “hold” rating to a “strong sell” rating in a report on Monday, September 29th. Morgan Stanley lifted their price target on Bloomin’ Brands from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, July 14th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Bloomin’ Brands in a report on Wednesday, October 8th. BMO Capital Markets reduced their price target on Bloomin’ Brands from $10.00 to $8.00 and set a “market perform” rating on the stock in a report on Thursday, August 7th. Finally, The Goldman Sachs Group reduced their price objective on shares of Bloomin’ Brands from $8.00 to $6.50 and set a “sell” rating on the stock in a report on Thursday, August 7th.

Bloomin’ Brands Stock Up 1.9%

NASDAQ BLMN opened at $6.89 on Wednesday. Bloomin’ Brands has a 52 week low of $6.09 and a 52 week high of $17.57. The company has a quick ratio of 0.35, a current ratio of 0.43 and a debt-to-equity ratio of 2.29. The business’s fifty day simple moving average is $7.22 and its 200-day simple moving average is $8.01. The firm has a market cap of $586.12 million, a PE ratio of -137.80 and a beta of 1.27.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings results on Wednesday, August 6th. The restaurant operator reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. Bloomin’ Brands had a positive return on equity of 44.03% and a negative net margin of 0.12%.The business had revenue of $1 billion for the quarter, compared to analyst estimates of $974.69 million. During the same quarter in the previous year, the firm earned $0.51 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. As a group, equities analysts anticipate that Bloomin’ Brands will post 1.8 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in Bloomin’ Brands by 28.9% during the first quarter. GAMMA Investing LLC now owns 6,304 shares of the restaurant operator’s stock worth $45,000 after purchasing an additional 1,414 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in Bloomin’ Brands during the first quarter worth about $151,000. Principal Financial Group Inc. increased its stake in Bloomin’ Brands by 2.5% during the first quarter. Principal Financial Group Inc. now owns 376,681 shares of the restaurant operator’s stock worth $2,701,000 after purchasing an additional 9,197 shares during the period. Envestnet Asset Management Inc. increased its stake in Bloomin’ Brands by 85.4% during the first quarter. Envestnet Asset Management Inc. now owns 69,632 shares of the restaurant operator’s stock worth $499,000 after purchasing an additional 32,072 shares during the period. Finally, Teacher Retirement System of Texas purchased a new stake in Bloomin’ Brands during the first quarter worth about $80,000.

About Bloomin’ Brands

Bloomin’ Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.