Brokerages Set Bloomin’ Brands Inc (BLMN) Target Price at $22.70

Shares of Bloomin’ Brands Inc (NASDAQ:BLMN) have earned a consensus recommendation of “Hold” from the sixteen brokerages that are covering the stock, Marketbeat reports. Ten research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $23.22.

A number of research firms have issued reports on BLMN. BidaskClub cut shares of Bloomin’ Brands from a “hold” rating to a “sell” rating in a report on Saturday, July 28th. Gordon Haskett began coverage on shares of Bloomin’ Brands in a report on Thursday, October 18th. They set a “buy” rating and a $23.00 price target for the company. Raymond James upgraded shares of Bloomin’ Brands from a “market perform” rating to an “outperform” rating and set a $25.00 target price for the company in a research note on Tuesday, July 17th. Goldman Sachs Group upgraded shares of Bloomin’ Brands from a “sell” rating to a “neutral” rating and set a $18.00 target price for the company in a research note on Tuesday, September 11th. Finally, Bank of America reduced their target price on shares of Bloomin’ Brands from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, July 31st.

In related news, EVP David Peter Schmidt sold 3,500 shares of the stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $19.17, for a total value of $67,095.00. Following the completion of the sale, the executive vice president now owns 4,828 shares in the company, valued at $92,552.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mindy F. Grossman sold 8,000 shares of the stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $20.96, for a total transaction of $167,680.00. Following the completion of the sale, the director now owns 9,790 shares of the company’s stock, valued at approximately $205,198.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,081 shares of company stock valued at $386,395. 7.47% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. FMR LLC acquired a new position in Bloomin’ Brands in the third quarter worth about $2,277,000. Bank of New York Mellon Corp raised its position in Bloomin’ Brands by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 676,905 shares of the restaurant operator’s stock worth $13,397,000 after purchasing an additional 21,247 shares in the last quarter. Alliancebernstein L.P. raised its position in Bloomin’ Brands by 19.0% in the third quarter. Alliancebernstein L.P. now owns 6,104,179 shares of the restaurant operator’s stock worth $120,802,000 after purchasing an additional 973,390 shares in the last quarter. Jennison Associates LLC raised its position in Bloomin’ Brands by 17.5% in the third quarter. Jennison Associates LLC now owns 70,085 shares of the restaurant operator’s stock worth $1,387,000 after purchasing an additional 10,451 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its position in Bloomin’ Brands by 11.0% in the third quarter. Thompson Siegel & Walmsley LLC now owns 171,842 shares of the restaurant operator’s stock worth $3,401,000 after purchasing an additional 16,983 shares in the last quarter. 96.75% of the stock is owned by hedge funds and other institutional investors.

BLMN stock traded down $0.23 during mid-day trading on Monday, reaching $21.55. 1,186,730 shares of the stock traded hands, compared to its average volume of 1,326,958. The company has a debt-to-equity ratio of 18.69, a current ratio of 0.37 and a quick ratio of 0.32. Bloomin’ Brands has a 52 week low of $16.78 and a 52 week high of $25.00. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 1.59 and a beta of 0.24.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings results on Monday, October 29th. The restaurant operator reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.01. Bloomin’ Brands had a net margin of 2.68% and a return on equity of 196.28%. The company had revenue of $965.00 million during the quarter, compared to analysts’ expectations of $965.17 million. During the same period in the prior year, the company earned $0.14 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities analysts expect that Bloomin’ Brands will post 1.46 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, November 14th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Tuesday, November 13th. Bloomin’ Brands’s payout ratio is presently 26.47%.

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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.

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Analyst Recommendations for Bloomin` Brands (NASDAQ:BLMN)

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