Bank of America Trims Bloomin’ Brands (NASDAQ:BLMN) Target Price to $19.00

Bloomin’ Brands (NASDAQ:BLMN) had its price target reduced by Bank of America from $22.00 to $19.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

Several other analysts have also issued reports on BLMN. UBS Group lowered their target price on Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Citigroup lowered their target price on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. Barclays lowered their target price on Bloomin’ Brands from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lowered their target price on Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Finally, BMO Capital Markets lowered their target price on Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $21.80.

Bloomin’ Brands Stock Up 0.4 %

Shares of NASDAQ:BLMN opened at $16.01 on Tuesday. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 25.02 and a beta of 2.04. The company has a quick ratio of 0.26, a current ratio of 0.35 and a debt-to-equity ratio of 3.46. Bloomin’ Brands has a 12-month low of $15.14 and a 12-month high of $30.13. The business’s 50 day moving average is $16.73 and its 200 day moving average is $19.70.

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 the consensus estimate of $0.58 by ($0.07). The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Bloomin’ Brands had a net margin of 0.70% and a return on equity of 61.90%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. On average, sell-side analysts forecast that Bloomin’ Brands will post 2.08 earnings per share for the current fiscal year.

Institutional Trading of Bloomin’ Brands

Several institutional investors have recently added to or reduced their stakes in BLMN. Headlands Technologies LLC purchased a new stake in Bloomin’ Brands during the 1st quarter valued at $30,000. EntryPoint Capital LLC boosted its stake in shares of Bloomin’ Brands by 6,454.9% in the 1st quarter. EntryPoint Capital LLC now owns 3,343 shares of the restaurant operator’s stock worth $96,000 after buying an additional 3,292 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Bloomin’ Brands in the 2nd quarter worth $111,000. Point72 DIFC Ltd purchased a new position in shares of Bloomin’ Brands in the 2nd quarter worth $169,000. Finally, Bayesian Capital Management LP purchased a new position in shares of Bloomin’ Brands in the 1st quarter worth $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.