Bloomin’ Brands (NASDAQ:BLMN) Downgraded to Strong Sell at BidaskClub

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BidaskClub lowered shares of Bloomin’ Brands (NASDAQ:BLMN) from a sell rating to a strong sell rating in a report issued on Wednesday, BidAskClub reports.

A number of other brokerages have also issued reports on BLMN. MKM Partners began coverage on Bloomin’ Brands in a research report on Tuesday, August 13th. They issued a buy rating and a $20.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Bloomin’ Brands from $23.00 to $22.00 and set an overweight rating on the stock in a research report on Friday, June 28th. Deutsche Bank began coverage on Bloomin’ Brands in a research report on Friday, June 28th. They issued a buy rating and a $24.00 target price on the stock. Zacks Investment Research raised Bloomin’ Brands from a sell rating to a hold rating in a research report on Monday, July 15th. Finally, Loop Capital began coverage on Bloomin’ Brands in a research report on Monday, July 22nd. They issued a buy rating and a $22.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. Bloomin’ Brands has a consensus rating of Hold and a consensus target price of $21.36.

Bloomin’ Brands stock opened at $15.79 on Wednesday. The stock’s 50 day moving average price is $17.11 and its 200 day moving average price is $19.15. The firm has a market capitalization of $1.35 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 1.02 and a beta of 0.23. The company has a debt-to-equity ratio of 15.18, a quick ratio of 0.21 and a current ratio of 0.30. Bloomin’ Brands has a one year low of $15.12 and a one year high of $22.22.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. Bloomin’ Brands had a return on equity of 105.54% and a net margin of 2.62%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company posted $0.36 EPS. Bloomin’ Brands’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, analysts forecast that Bloomin’ Brands will post 1.58 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Monday, August 12th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Friday, August 9th. Bloomin’ Brands’s dividend payout ratio is currently 26.67%.

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in shares of Bloomin’ Brands by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 1,033,721 shares of the restaurant operator’s stock worth $18,493,000 after acquiring an additional 56,685 shares during the last quarter. Investors Research Corp bought a new stake in shares of Bloomin’ Brands in the 1st quarter worth about $183,000. Brinker Capital Inc. bought a new stake in shares of Bloomin’ Brands in the 1st quarter worth about $208,000. Copeland Capital Management LLC bought a new stake in shares of Bloomin’ Brands in the 1st quarter worth about $12,877,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Bloomin’ Brands in the 1st quarter worth about $443,000. 94.52% of the stock is currently owned by institutional investors and hedge funds.

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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.

Further Reading: Can individual investors take part in an IPO?

Analyst Recommendations for Bloomin` Brands (NASDAQ:BLMN)

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