Bloomin’ Brands (NASDAQ:BLMN) Price Target Cut to $30.00

Bloomin’ Brands (NASDAQ:BLMN) had its target price decreased by research analysts at Barclays from $32.00 to $30.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the restaurant operator’s stock. Barclays‘s target price would suggest a potential upside of 25.26% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. BMO Capital Markets reduced their price target on shares of Bloomin’ Brands from $29.00 to $27.00 and set a “market perform” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. cut shares of Bloomin’ Brands from an “overweight” rating to a “neutral” rating and set a $26.00 target price for the company. in a research note on Tuesday, January 23rd. Citigroup increased their price target on Bloomin’ Brands from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Finally, UBS Group cut their price objective on Bloomin’ Brands from $30.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.50.

Bloomin’ Brands Price Performance

Shares of BLMN traded down $0.01 during mid-day trading on Wednesday, reaching $23.95. The company had a trading volume of 1,030,640 shares, compared to its average volume of 1,323,505. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.34 and a quick ratio of 0.27. The company has a market capitalization of $2.09 billion, a P/E ratio of 9.43, a P/E/G ratio of 9.85 and a beta of 2.02. Bloomin’ Brands has a twelve month low of $22.03 and a twelve month high of $30.13. The company’s 50-day moving average is $27.54 and its 200-day moving average is $26.19.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings results on Tuesday, May 7th. The restaurant operator reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.05). The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Bloomin’ Brands had a net margin of 5.30% and a return on equity of 73.67%. The business’s revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the company earned $0.98 earnings per share. On average, equities analysts anticipate that Bloomin’ Brands will post 2.55 EPS for the current year.

Institutional Investors Weigh In On Bloomin’ Brands

Several institutional investors have recently modified their holdings of BLMN. Raymond James & Associates boosted its stake in Bloomin’ Brands by 4.1% in the third quarter. Raymond James & Associates now owns 520,451 shares of the restaurant operator’s stock valued at $12,798,000 after acquiring an additional 20,549 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Bloomin’ Brands by 14.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 171,793 shares of the restaurant operator’s stock valued at $4,224,000 after buying an additional 21,462 shares during the period. New York State Teachers Retirement System boosted its holdings in Bloomin’ Brands by 4.7% during the third quarter. New York State Teachers Retirement System now owns 94,285 shares of the restaurant operator’s stock worth $2,318,000 after buying an additional 4,200 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in Bloomin’ Brands by 4.8% during the third quarter. Verdence Capital Advisors LLC now owns 12,250 shares of the restaurant operator’s stock worth $301,000 after buying an additional 566 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Bloomin’ Brands by 16.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,491 shares of the restaurant operator’s stock worth $406,000 after buying an additional 2,384 shares during the period.

About Bloomin’ Brands

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.