Bloomin’ Brands (BLMN) Upgraded at BidaskClub

Bloomin’ Brands (NASDAQ:BLMN) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Friday, March 29th, BidAskClub reports.

BLMN has been the topic of a number of other research reports. Bank of America lowered Bloomin’ Brands from a “neutral” rating to an “underperform” rating and set a $17.00 price objective on the stock. in a report on Friday, February 8th. Barclays reduced their price target on Bloomin’ Brands from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, November 29th. JPMorgan Chase & Co. upgraded Bloomin’ Brands from a “neutral” rating to an “overweight” rating and set a $23.00 price target on the stock in a report on Tuesday, January 8th. Zacks Investment Research upgraded Bloomin’ Brands from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Thursday, December 13th. Finally, TheStreet upgraded Bloomin’ Brands from a “c+” rating to a “b” rating in a report on Friday, February 15th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $21.67.

BLMN stock traded up $0.44 during midday trading on Friday, reaching $19.24. The stock had a trading volume of 1,101,905 shares, compared to its average volume of 1,013,218. The company has a debt-to-equity ratio of 19.48, a quick ratio of 0.33 and a current ratio of 0.42. The firm has a market capitalization of $1.76 billion, a P/E ratio of 12.83, a PEG ratio of 1.29 and a beta of 0.33. Bloomin’ Brands has a 52-week low of $17.08 and a 52-week high of $24.91.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Thursday, February 14th. The restaurant operator reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Bloomin’ Brands had a return on equity of 178.97% and a net margin of 2.60%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. On average, equities analysts forecast that Bloomin’ Brands will post 1.56 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. grew its position in shares of Bloomin’ Brands by 208.6% during the first quarter. Meeder Asset Management Inc. now owns 26,778 shares of the restaurant operator’s stock worth $548,000 after buying an additional 18,101 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of Bloomin’ Brands during the first quarter worth about $605,000. Reinhart Partners Inc. grew its position in shares of Bloomin’ Brands by 28.4% during the first quarter. Reinhart Partners Inc. now owns 295,570 shares of the restaurant operator’s stock worth $6,044,000 after buying an additional 65,360 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Bloomin’ Brands by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 1,033,721 shares of the restaurant operator’s stock worth $18,493,000 after buying an additional 56,685 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Bloomin’ Brands during the fourth quarter worth about $32,422,000. 94.80% of the stock is 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.

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Analyst Recommendations for Bloomin` Brands (NASDAQ:BLMN)

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