Bloomin’ Brands (NASDAQ:BLMN) PT Lowered to $19.00 at Bank of America

Bloomin’ Brands (NASDAQ:BLMN) had its target price reduced by equities research analysts at Bank of America from $22.00 to $19.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the restaurant operator’s stock. Bank of America‘s price objective would suggest a potential upside of 18.53% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. Barclays dropped their price objective on shares of Bloomin’ Brands from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. StockNews.com lowered shares of Bloomin’ Brands from a “hold” rating to a “sell” rating in a research report on Monday. UBS Group dropped their price objective on shares of Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, BMO Capital Markets dropped their price objective on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $21.80.

Bloomin’ Brands Trading Down 2.6 %

NASDAQ:BLMN traded down $0.42 during trading hours on Tuesday, reaching $16.03. 376,584 shares of the company were exchanged, compared to its average volume of 1,455,251. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.35 and a quick ratio of 0.26. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 25.11 and a beta of 2.04. Bloomin’ Brands has a 52-week low of $15.14 and a 52-week high of $30.13. The stock has a 50 day simple moving average of $16.77 and a 200 day simple moving average of $19.83.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings results on Tuesday, August 6th. The restaurant operator reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.07). The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Bloomin’ Brands had a return on equity of 61.90% and a net margin of 0.70%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.74 EPS. As a group, analysts predict that Bloomin’ Brands will post 2.08 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BLMN. SummerHaven Investment Management LLC lifted its position in shares of Bloomin’ Brands by 2.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 27,857 shares of the restaurant operator’s stock worth $536,000 after buying an additional 718 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in shares of Bloomin’ Brands by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 75,979 shares of the restaurant operator’s stock worth $2,179,000 after buying an additional 1,017 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Bloomin’ Brands in the 1st quarter worth about $30,000. Hsbc Holdings PLC lifted its position in shares of Bloomin’ Brands by 8.7% in the 2nd quarter. Hsbc Holdings PLC now owns 13,567 shares of the restaurant operator’s stock worth $258,000 after buying an additional 1,083 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Bloomin’ Brands by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 17,657 shares of the restaurant operator’s stock worth $506,000 after buying an additional 1,216 shares during the last quarter.

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; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.