Barclays Cuts Bloomin’ Brands (NASDAQ:BLMN) Price Target to $20.00

Bloomin’ Brands (NASDAQ:BLMN) had its target price lowered by Barclays from $22.00 to $20.00 in a report released on Tuesday, Benzinga reports. The firm currently has an overweight rating on the restaurant operator’s stock.

A number of other brokerages have also recently issued reports on BLMN. Deutsche Bank Aktiengesellschaft decreased their target price on Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. StockNews.com cut Bloomin’ Brands from a “hold” rating to a “sell” rating in a research report on Monday. Citigroup reduced their price objective on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. 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 research report on Tuesday, July 16th. Finally, BMO Capital Markets reduced their price objective on Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.80.

Bloomin’ Brands Trading Up 0.4 %

NASDAQ:BLMN opened at $16.01 on Tuesday. The stock’s 50 day moving average price is $16.73 and its 200 day moving average price is $19.70. Bloomin’ Brands has a 52 week low of $15.14 and a 52 week high of $30.13. The company has a market capitalization of $1.38 billion, a P/E ratio of 25.02 and a beta of 2.04. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.26 and a current ratio of 0.35.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BLMN. Headlands Technologies LLC acquired a new position in Bloomin’ Brands during the first quarter worth $30,000. EntryPoint Capital LLC raised its stake in Bloomin’ Brands by 6,454.9% during the first quarter. EntryPoint Capital LLC now owns 3,343 shares of the restaurant operator’s stock worth $96,000 after acquiring an additional 3,292 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Bloomin’ Brands during the second quarter worth $111,000. Point72 DIFC Ltd acquired a new stake in shares of Bloomin’ Brands in the second quarter valued at $169,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Bloomin’ Brands in the first quarter valued at $219,000.

About Bloomin’ Brands

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.