JPMorgan Chase & Co. Lowers Bloomin’ Brands (NASDAQ:BLMN) Price Target to $14.00

Bloomin’ Brands (NASDAQ:BLMN) had its price objective cut by research analysts at JPMorgan Chase & Co. from $19.00 to $14.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 2.87% from the company’s previous close.

Other analysts have also issued research reports about the company. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Piper Sandler reduced their target price on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday. Raymond James downgraded shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Monday. Citigroup decreased their target price on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Finally, BMO Capital Markets decreased their price objective on Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Bloomin’ Brands currently has an average rating of “Hold” and a consensus target price of $19.70.

Bloomin’ Brands Stock Down 1.1 %

BLMN stock traded down $0.15 during midday trading on Tuesday, hitting $13.61. The company’s stock had a trading volume of 453,375 shares, compared to its average volume of 1,493,896. The company’s fifty day moving average price is $16.42 and its 200 day moving average price is $18.77. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.35 and a quick ratio of 0.26. Bloomin’ Brands has a twelve month low of $13.47 and a twelve month high of $30.13. The stock has a market capitalization of $1.16 billion, a P/E ratio of -125.08 and a beta of 2.04.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Bloomin’ Brands had a return on equity of 61.90% and a net margin of 0.70%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the company earned $0.44 earnings per share. The business’s revenue was down 5.1% compared to the same quarter last year. As a group, equities research analysts predict that Bloomin’ Brands will post 1.77 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new stake in shares of Bloomin’ Brands in the 3rd quarter valued at $339,000. Advisors Asset Management Inc. lifted its position in shares of Bloomin’ Brands by 176.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 167,495 shares of the restaurant operator’s stock worth $2,769,000 after buying an additional 106,804 shares during the last quarter. Factorial Partners LLC boosted its stake in Bloomin’ Brands by 67.1% in the third quarter. Factorial Partners LLC now owns 60,000 shares of the restaurant operator’s stock valued at $992,000 after buying an additional 24,100 shares in the last quarter. Jennison Associates LLC grew its position in Bloomin’ Brands by 4.4% in the third quarter. Jennison Associates LLC now owns 1,411,200 shares of the restaurant operator’s stock valued at $23,327,000 after acquiring an additional 59,418 shares during the last quarter. Finally, Gladius Capital Management LP bought a new position in Bloomin’ Brands in the third quarter valued at about $26,000.

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.