Bloomin’ Brands (NASDAQ:BLMN) Stock Price Down 4.3% – Here’s What Happened

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s stock price was down 4.3% during mid-day trading on Monday . The company traded as low as $15.45 and last traded at $15.55. Approximately 288,837 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 1,442,596 shares. The stock had previously closed at $16.25.

Wall Street Analyst Weigh In

Several brokerages recently commented on BLMN. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Morgan Stanley decreased their price objective on Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. BMO Capital Markets cut their target price on Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. Citigroup decreased their price target on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. Finally, UBS Group lowered their target price on shares of Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Bloomin’ Brands has a consensus rating of “Hold” and a consensus price target of $21.80.

Bloomin’ Brands Trading Down 5.3 %

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 capitalization of $1.31 billion, a price-to-earnings ratio of 62.50 and a beta of 2.04. The business has a 50 day moving average of $16.57 and a 200 day moving average of $19.15.

Bloomin’ Brands (NASDAQ:BLMN) last announced 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 during the quarter, compared to the consensus estimate of $1.13 billion. Bloomin’ Brands had a net margin of 0.70% and a return on equity of 61.90%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 EPS. As a group, research analysts predict that Bloomin’ Brands, Inc. will post 2.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bloomin’ Brands

Large investors have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC boosted its stake in shares of Bloomin’ Brands by 2.6% in the second quarter. SummerHaven Investment Management LLC now owns 27,857 shares of the restaurant operator’s stock valued at $536,000 after buying an additional 718 shares during the period. Verdence Capital Advisors LLC boosted its position in Bloomin’ Brands by 6.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 12,676 shares of the restaurant operator’s stock worth $210,000 after buying an additional 780 shares during the period. Texas Permanent School Fund Corp grew its stake in shares of Bloomin’ Brands by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 75,979 shares of the restaurant operator’s stock worth $2,179,000 after purchasing an additional 1,017 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Bloomin’ Brands in the first quarter valued at about $30,000. Finally, Hsbc Holdings PLC increased its position in Bloomin’ Brands by 8.7% during the 2nd quarter. Hsbc Holdings PLC now owns 13,567 shares of the restaurant operator’s stock valued at $258,000 after purchasing an additional 1,083 shares during the period.

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.