Barclays Reaffirms Equal Weight Rating for Bloomin’ Brands (NASDAQ:BLMN)

Bloomin’ Brands (NASDAQ:BLMN)‘s stock had its “equal weight” rating restated by research analysts at Barclays in a research report issued on Tuesday, MarketBeat reports. They presently have a $13.00 target price on the restaurant operator’s stock, down from their prior target price of $19.00. Barclays‘s target price indicates a potential upside of 3.01% from the company’s previous close.

Other analysts have also issued research reports about the company. Raymond James lowered Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. JPMorgan Chase & Co. dropped their price target on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 12th. Bank of America decreased their price objective on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Piper Sandler dropped their target price 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. Finally, The Goldman Sachs Group initiated coverage on shares of Bloomin’ Brands in a research report on Thursday, December 5th. They set a “sell” rating and a $13.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.40.

Bloomin’ Brands Stock Performance

BLMN stock opened at $12.62 on Tuesday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -114.72 and a beta of 1.97. Bloomin’ Brands has a twelve month low of $11.24 and a twelve month high of $30.13. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46. The business’s fifty day simple moving average is $13.42 and its two-hundred day simple moving average is $16.04.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Friday, November 8th. The restaurant operator reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. Analysts predict that Bloomin’ Brands will post 1.8 earnings per share for the current year.

Hedge Funds Weigh In On Bloomin’ Brands

Several hedge funds have recently modified their holdings of the stock. Erste Asset Management GmbH purchased a new stake in Bloomin’ Brands during the 3rd quarter worth approximately $41,325,000. Deprince Race & Zollo Inc. purchased a new stake in shares of Bloomin’ Brands during the second quarter valued at $28,672,000. Victory Capital Management Inc. grew its holdings in shares of Bloomin’ Brands by 29.6% during the second quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator’s stock valued at $47,923,000 after buying an additional 569,855 shares during the last quarter. Millennium Management LLC raised 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 worth $9,009,000 after acquiring an additional 450,630 shares during the last quarter. Finally, FMR LLC raised its stake in Bloomin’ Brands by 34.8% in the 3rd quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock worth $22,830,000 after acquiring an additional 356,456 shares during the last quarter.

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.