Bloomin’ Brands (NASDAQ:BLMN) Given New $19.00 Price Target at Bank of America

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

A number of other equities research analysts have also commented on BLMN. Citigroup dropped their target price on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. UBS Group dropped their target price on Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley lowered their price objective on Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. StockNews.com cut shares of Bloomin’ Brands from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $21.80.

Bloomin’ Brands Price Performance

Shares of BLMN stock opened at $15.99 on Tuesday. The stock’s 50-day simple moving average is $16.77 and its 200-day simple moving average is $19.75. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 24.98 and a beta of 2.04. Bloomin’ Brands has a fifty-two week low of $15.14 and a fifty-two week high of $30.13. 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 issued its earnings results on Tuesday, August 6th. The restaurant operator reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.07). The firm had revenue of $1.12 billion during 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%. Bloomin’ Brands’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. As a group, equities analysts forecast that Bloomin’ Brands will post 2.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bloomin’ Brands

A number of institutional investors have recently added to or reduced their stakes in BLMN. Deprince Race & Zollo Inc. acquired a new stake in Bloomin’ Brands in the 2nd quarter valued at $28,672,000. Victory Capital Management Inc. grew its stake in Bloomin’ Brands by 29.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator’s stock valued at $47,923,000 after acquiring an additional 569,855 shares during the period. Millennium Management LLC grew its stake in Bloomin’ Brands by 2,520.7% in the 2nd quarter. Millennium Management LLC now owns 468,507 shares of the restaurant operator’s stock valued at $9,009,000 after acquiring an additional 450,630 shares during the period. Systematic Financial Management LP grew its stake in Bloomin’ Brands by 76.5% in the 2nd quarter. Systematic Financial Management LP now owns 544,742 shares of the restaurant operator’s stock valued at $10,475,000 after acquiring an additional 236,037 shares during the period. Finally, BW Gestao de Investimentos Ltda. grew its stake in Bloomin’ Brands by 45.7% in the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 457,704 shares of the restaurant operator’s stock valued at $8,802,000 after acquiring an additional 143,485 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.