Bloomin’ Brands (NASDAQ:BLMN) PT Lowered to $26.00 at Barclays

Bloomin’ Brands (NASDAQ:BLMNGet Rating) had its price objective reduced by equities researchers at Barclays from $29.00 to $26.00 in a report issued on Thursday, The Fly reports. Barclays‘s price target points to a potential upside of 24.76% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Raymond James raised their price target on Bloomin’ Brands from $28.00 to $30.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, February 22nd. BMO Capital Markets lifted their target price on Bloomin’ Brands from $30.00 to $33.00 and gave the company an “outperform” rating in a research report on Tuesday, February 22nd. Jefferies Financial Group reiterated a “buy” rating and issued a $36.00 target price on shares of Bloomin’ Brands in a research report on Wednesday, April 13th. StockNews.com upgraded Bloomin’ Brands from a “hold” rating to a “buy” rating in a research report on Friday, May 13th. Finally, Morgan Stanley decreased their target price on Bloomin’ Brands from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 14th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Bloomin’ Brands currently has a consensus rating of “Buy” and an average price target of $28.33.

BLMN opened at $20.84 on Thursday. Bloomin’ Brands has a fifty-two week low of $17.27 and a fifty-two week high of $30.40. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.22 and a current ratio of 0.29. The company has a market capitalization of $1.85 billion, a P/E ratio of 9.92 and a beta of 1.80. The stock has a fifty day moving average of $21.19 and a 200-day moving average of $21.05.

Bloomin’ Brands (NASDAQ:BLMNGet Rating) last issued its quarterly earnings results on Friday, April 29th. The restaurant operator reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. Bloomin’ Brands had a return on equity of 131.48% and a net margin of 5.20%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the business earned $0.72 earnings per share. Bloomin’ Brands’s revenue was up 15.5% on a year-over-year basis. On average, equities research analysts predict that Bloomin’ Brands will post 2.49 earnings per share for the current fiscal year.

In other Bloomin’ Brands news, EVP Kelly Lefferts sold 8,087 shares of the stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $20.82, for a total transaction of $168,371.34. Following the transaction, the executive vice president now directly owns 36,626 shares in the company, valued at approximately $762,553.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.85% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in shares of Bloomin’ Brands by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,580,349 shares of the restaurant operator’s stock worth $39,508,000 after purchasing an additional 15,100 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Bloomin’ Brands in the 3rd quarter worth $10,843,000. Franklin Resources Inc. bought a new position in shares of Bloomin’ Brands in the 3rd quarter worth $1,077,000. Neuberger Berman Group LLC lifted its holdings in shares of Bloomin’ Brands by 185.1% in the 3rd quarter. Neuberger Berman Group LLC now owns 143,678 shares of the restaurant operator’s stock worth $3,563,000 after purchasing an additional 93,274 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new position in shares of Bloomin’ Brands in the 3rd quarter worth $92,000.

About Bloomin’ Brands (Get Rating)

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.

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