Bloomin’ Brands (NASDAQ:BLMN) Cut to Underperform at Bank of America

Bloomin’ Brands (NASDAQ:BLMNGet Free Report) was downgraded by analysts at Bank of America from a “neutral” rating to an “underperform” rating in a report issued on Monday, Marketbeat.com reports. They presently have a $13.00 price target on the restaurant operator’s stock, down from their previous price target of $18.00. Bank of America‘s price objective would indicate a potential upside of 4.42% from the stock’s current price.

Other equities analysts have also issued reports about the company. Barclays reaffirmed an “equal weight” rating and issued a $13.00 price objective (down from $19.00) on shares of Bloomin’ Brands in a research note on Tuesday, January 7th. Raymond James cut Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. Piper Sandler lowered their price objective on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. The Goldman Sachs Group started coverage on shares of Bloomin’ Brands in a report on Thursday, December 5th. They issued a “sell” rating and a $13.00 target price on the stock. Finally, StockNews.com cut Bloomin’ Brands from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Three analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat.com, Bloomin’ Brands currently has a consensus rating of “Hold” and a consensus price target of $16.30.

Read Our Latest Report on Bloomin’ Brands

Bloomin’ Brands Stock Down 1.2 %

NASDAQ BLMN opened at $12.45 on Monday. The business has a fifty day moving average price of $12.42 and a two-hundred day moving average price of $15.30. The stock has a market capitalization of $1.06 billion, a PE ratio of -113.17 and a beta of 1.97. Bloomin’ Brands has a fifty-two week low of $11.03 and a fifty-two week high of $30.13. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22.

Bloomin’ Brands (NASDAQ:BLMNGet Free Report) 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. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 earnings per share. Equities analysts expect that Bloomin’ Brands will post 1.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Gladius Capital Management LP purchased a new position in Bloomin’ Brands during the third quarter worth about $26,000. KBC Group NV boosted its position in shares of Bloomin’ Brands by 79.1% during the 3rd quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock valued at $56,000 after acquiring an additional 1,489 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Bloomin’ Brands by 606.6% during the fourth quarter. GAMMA Investing LLC now owns 4,890 shares of the restaurant operator’s stock worth $60,000 after purchasing an additional 4,198 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Bloomin’ Brands in the second quarter worth approximately $111,000. Finally, Entropy Technologies LP purchased a new stake in Bloomin’ Brands in the fourth quarter valued at approximately $140,000.

About Bloomin’ Brands

(Get Free Report)

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.

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