Bloomin’ Brands (NASDAQ:BLMN) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Bloomin’ Brands (NASDAQ:BLMN) from a hold rating to a sell rating in a research note released on Friday morning.

Several other analysts have also recently issued reports on BLMN. The Goldman Sachs Group assumed coverage on shares of Bloomin’ Brands in a research note on Thursday, December 5th. They set a “sell” rating and a $13.00 price objective for the company. UBS Group dropped 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 note on Tuesday, January 7th. Raymond James cut shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. dropped their price objective on shares of 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 objective on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $16.90.

Bloomin’ Brands Stock Up 0.1 %

BLMN opened at $12.33 on Friday. Bloomin’ Brands has a twelve month low of $11.03 and a twelve month high of $30.13. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46. The company has a 50-day moving average price of $12.42 and a 200 day moving average price of $15.38. The company has a market cap of $1.05 billion, a PE ratio of -112.08 and a beta of 1.97.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. Sell-side analysts expect that Bloomin’ Brands will post 1.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bloomin’ Brands

A number of hedge funds have recently made changes to their positions in BLMN. Erste Asset Management GmbH purchased a new position in shares of Bloomin’ Brands during the 3rd quarter worth approximately $41,325,000. Millennium Management LLC boosted 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 during the period. FMR LLC boosted 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 during the period. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Bloomin’ Brands by 58.3% during the 3rd 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 boosted its position in shares of Bloomin’ Brands by 76.5% during the 2nd quarter. Systematic Financial Management LP now owns 544,742 shares of the restaurant operator’s stock worth $10,475,000 after purchasing an additional 236,037 shares during the period.

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.