Bloomin’ Brands (NASDAQ:BLMN) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Bloomin’ Brands (NASDAQ:BLMN) from a buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “Bloomin’ Brands, Inc. is a casual dining restaurant company with a portfolio of differentiated restaurant concepts. It has five concepts: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse and Wine Bar and Roy’s. The Company offers its products and services through company owned and franchised locations throughout the United States and internationally. Bloomin’ Brands, Inc. is based in Tampa, Florida. “

BLMN has been the topic of several other research reports. BidaskClub lowered Bloomin’ Brands from a hold rating to a sell rating in a research note on Thursday, March 14th. BMO Capital Markets lowered Bloomin’ Brands from a market perform rating to an underperform rating and decreased their price target for the company from $23.00 to $18.00 in a research note on Thursday, May 23rd. ValuEngine lowered Bloomin’ Brands from a hold rating to a sell rating in a research note on Saturday, April 13th. Guggenheim upgraded Bloomin’ Brands from a neutral rating to a buy rating and set a $25.00 price target on the stock in a research note on Friday, May 24th. Finally, Tigress Financial reiterated a buy rating on shares of Bloomin’ Brands in a research note on Thursday, April 18th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $21.73.

Shares of BLMN opened at $18.91 on Wednesday. Bloomin’ Brands has a 52-week low of $17.08 and a 52-week high of $22.22. The firm has a fifty day simple moving average of $19.34. The company has a debt-to-equity ratio of 9.20, a quick ratio of 0.21 and a current ratio of 0.30. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 1.19 and a beta of 0.32.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings results on Friday, April 26th. The restaurant operator reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.02. Bloomin’ Brands had a return on equity of 124.00% and a net margin of 2.56%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the company posted $0.71 EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts expect that Bloomin’ Brands will post 1.58 earnings per share for the current fiscal year.

In related news, insider Elizabeth A. Smith sold 116,318 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $19.99, for a total transaction of $2,325,196.82. Following the sale, the insider now owns 411,733 shares in the company, valued at approximately $8,230,542.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Elizabeth A. Smith sold 65,486 shares of Bloomin’ Brands stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $20.00, for a total value of $1,309,720.00. Following the transaction, the chairman now directly owns 411,733 shares in the company, valued at $8,234,660. The disclosure for this sale can be found here. Insiders own 4.39% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in Bloomin’ Brands by 5.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,988,120 shares of the restaurant operator’s stock worth $53,457,000 after buying an additional 143,957 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in Bloomin’ Brands by 17.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,166,913 shares of the restaurant operator’s stock worth $38,766,000 after buying an additional 326,731 shares during the period. Westwood Holdings Group Inc. lifted its holdings in Bloomin’ Brands by 10.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,109,758 shares of the restaurant operator’s stock worth $43,145,000 after buying an additional 204,909 shares during the period. Rothschild & Co. Asset Management US Inc. lifted its holdings in Bloomin’ Brands by 13.6% during the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 2,028,988 shares of the restaurant operator’s stock worth $41,493,000 after buying an additional 242,582 shares during the period. Finally, Norges Bank acquired a new position in Bloomin’ Brands during the 4th quarter worth about $32,422,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

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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