BMO Capital Markets Lowers Bloomin’ Brands (NASDAQ:BLMN) Price Target to $20.00

Bloomin’ Brands (NASDAQ:BLMN) had its target price dropped by research analysts at BMO Capital Markets from $27.00 to $20.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the restaurant operator’s stock. BMO Capital Markets’ target price points to a potential upside of 25.79% from the company’s previous close.

BLMN has been the subject of a number of other reports. UBS Group reduced their price objective on shares of Bloomin’ Brands from $30.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Barclays decreased their price target on Bloomin’ Brands from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Morgan Stanley dropped their price objective on Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. dropped their price target on Bloomin’ Brands from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, May 28th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Bloomin’ Brands has an average rating of “Hold” and a consensus target price of $23.33.

Bloomin’ Brands Stock Performance

Bloomin’ Brands stock traded down $0.07 during trading on Wednesday, reaching $15.90. The company had a trading volume of 373,294 shares, compared to its average volume of 1,483,499. The firm’s 50-day simple moving average is $19.18 and its 200 day simple moving average is $23.92. Bloomin’ Brands has a 52 week low of $15.71 and a 52 week high of $30.13. The company has a current ratio of 0.33, a quick ratio of 0.26 and a debt-to-equity ratio of 3.12. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 24.95 and a beta of 2.04.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $0.51 EPS for the quarter, missing the consensus estimate 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 return on equity of 65.73% and a net margin of 1.56%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. Sell-side analysts forecast that Bloomin’ Brands will post 2.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bloomin’ Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. grew its stake in Bloomin’ Brands by 6.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 92,733 shares of the restaurant operator’s stock worth $1,783,000 after acquiring an additional 5,752 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Bloomin’ Brands by 4.8% in the 2nd quarter. American Century Companies Inc. now owns 219,002 shares of the restaurant operator’s stock worth $4,211,000 after purchasing an additional 9,988 shares during the period. Headlands Technologies LLC boosted its position in Bloomin’ Brands by 1,693.0% during the 2nd quarter. Headlands Technologies LLC now owns 18,862 shares of the restaurant operator’s stock valued at $363,000 after acquiring an additional 17,810 shares in the last quarter. Choreo LLC purchased a new position in shares of Bloomin’ Brands in the 2nd quarter valued at $307,000. Finally, Foundry Partners LLC raised its position in shares of Bloomin’ Brands by 5.3% in the 2nd quarter. Foundry Partners LLC now owns 257,162 shares of the restaurant operator’s stock worth $4,945,000 after acquiring an additional 12,944 shares in 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.