Raymond James Financial, Inc. Reiterates “$24.00” Price Target for Bloomin’ Brands, Inc. (NASDAQ:BLMN)
Bloomin’ Brands, Inc. (NASDAQ:BLMN) has been assigned a $24.00 price target by stock analysts at Raymond James Financial, Inc. in a report released on Thursday. The firm currently has a “buy” rating on the restaurant operator’s stock. Raymond James Financial, Inc.’s target price would indicate a potential upside of 29.52% from the stock’s current price.
Several other equities research analysts have also recently commented on BLMN. BidaskClub cut Bloomin’ Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Deutsche Bank AG restated a “hold” rating and issued a $24.00 target price (up previously from $21.00) on shares of Bloomin’ Brands in a research note on Monday, July 10th. TheStreet upgraded Bloomin’ Brands from a “c” rating to a “b” rating in a research note on Wednesday, April 26th. ValuEngine cut Bloomin’ Brands from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Morgan Stanley boosted their target price on Bloomin’ Brands from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $21.00.
Shares of Bloomin’ Brands (NASDAQ:BLMN) traded down 1.13% during trading on Thursday, hitting $18.32. The stock had a trading volume of 1,565,552 shares. The firm has a 50 day moving average of $20.97 and a 200 day moving average of $19.48. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 39.83 and a beta of 0.76. Bloomin’ Brands has a 1-year low of $15.82 and a 1-year high of $22.16.
Bloomin’ Brands (NASDAQ:BLMN) last released its earnings results on Wednesday, July 26th. The restaurant operator reported $0.28 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.28. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Bloomin’ Brands had a return on equity of 61.37% and a net margin of 1.21%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 EPS. Analysts expect that Bloomin’ Brands will post $1.42 EPS for the current fiscal year.
Bloomin’ Brands announced that its board has authorized a share repurchase plan on Wednesday, April 26th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the restaurant operator to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.
In other news, Chairman Elizabeth A. Smith sold 275,000 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $21.81, for a total transaction of $5,997,750.00. Following the completion of the sale, the chairman now directly owns 206,235 shares in the company, valued at approximately $4,497,985.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Sukhdev Singh sold 26,446 shares of the company’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $21.67, for a total value of $573,084.82. Following the sale, the executive vice president now owns 15,759 shares of the company’s stock, valued at $341,497.53. The disclosure for this sale can be found here. Corporate insiders own 7.04% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in BLMN. Ameritas Investment Partners Inc. bought a new stake in Bloomin’ Brands during the first quarter worth $173,000. Public Employees Retirement System of Ohio increased its stake in Bloomin’ Brands by 8.6% in the first quarter. Public Employees Retirement System of Ohio now owns 8,794 shares of the restaurant operator’s stock worth $174,000 after buying an additional 693 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in Bloomin’ Brands by 20.1% in the first quarter. Integrated Investment Consultants LLC now owns 9,007 shares of the restaurant operator’s stock worth $178,000 after buying an additional 1,507 shares during the last quarter. New York State Teachers Retirement System increased its stake in Bloomin’ Brands by 3.1% in the fourth quarter. New York State Teachers Retirement System now owns 10,100 shares of the restaurant operator’s stock worth $182,000 after buying an additional 300 shares during the last quarter. Finally, Parametrica Management Ltd bought a new stake in Bloomin’ Brands during the second quarter worth $201,000. Hedge funds and other institutional investors own 98.48% of the company’s stock.
Bloomin’ Brands Company Profile
Bloomin’ Brands, Inc is a holding company. The Company owns and operates casual, upscale casual and fine dining restaurants. The Company operates through two segments: U.S. and International. The U.S. segment includes all brands operating in the United States. The International segment includes brands operating outside the United States.
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