Bank of America Cuts Bloomin’ Brands (NASDAQ:BLMN) Price Target to $19.00

Bloomin’ Brands (NASDAQ:BLMN) had its price target decreased by Bank of America from $22.00 to $19.00 in a report released on Tuesday, Benzinga reports. Bank of America currently has a neutral rating on the restaurant operator’s stock.

A number of other research analysts also recently issued reports on BLMN. Citigroup dropped their price objective on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. Morgan Stanley dropped their price target on Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Barclays reduced 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 target price on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Finally, StockNews.com cut shares of Bloomin’ Brands from a “hold” rating to a “sell” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $21.80.

Bloomin’ Brands Stock Performance

NASDAQ:BLMN opened at $15.96 on Tuesday. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.26 and a current ratio of 0.35. Bloomin’ Brands has a fifty-two week low of $15.14 and a fifty-two week high of $30.13. The company has a 50 day simple moving average of $16.70 and a two-hundred day simple moving average of $19.62. The company has a market capitalization of $1.38 billion, a PE ratio of 24.94 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 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.07). The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.13 billion. Bloomin’ Brands had a return on equity of 61.90% and a net margin of 0.70%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 earnings per share. Research analysts anticipate that Bloomin’ Brands will post 2.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BLMN. Xcel Wealth Management LLC raised its holdings in shares of Bloomin’ Brands by 19.4% in the 3rd quarter. Xcel Wealth Management LLC now owns 248,078 shares of the restaurant operator’s stock worth $4,101,000 after acquiring an additional 40,225 shares during the last quarter. Creative Planning acquired a new position in Bloomin’ Brands during the 3rd quarter valued at about $219,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Bloomin’ Brands during the 2nd quarter worth approximately $111,000. Sanctuary Advisors LLC purchased a new stake in shares of Bloomin’ Brands in the second quarter worth approximately $351,000. Finally, Dana Investment Advisors Inc. lifted its holdings in shares of Bloomin’ Brands by 28.7% in the second quarter. Dana Investment Advisors Inc. now owns 70,666 shares of the restaurant operator’s stock valued at $1,359,000 after purchasing an additional 15,756 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.