Bloomin’ Brands, Inc. (BLMN) Receives Average Rating of “Hold” from Analysts
Bloomin’ Brands, Inc. (NASDAQ:BLMN) has been assigned an average recommendation of “Hold” from the thirteen analysts that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $20.86.
BLMN has been the topic of a number of research reports. Deutsche Bank AG boosted their target price on shares of Bloomin’ Brands from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Friday, April 28th. TheStreet upgraded shares of Bloomin’ Brands from a “c” rating to a “b” rating in a report on Wednesday, April 26th. Morgan Stanley boosted their target price on shares of Bloomin’ Brands from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Friday, April 28th. Wells Fargo & Company downgraded shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating and set a $22.00 target price on the stock. in a report on Friday, May 19th. Finally, ValuEngine downgraded shares of Bloomin’ Brands from a “buy” rating to a “hold” rating in a report on Friday, June 2nd.
Several institutional investors have recently added to or reduced their stakes in BLMN. Vanguard Group Inc. boosted its position in Bloomin’ Brands by 11.2% in the first quarter. Vanguard Group Inc. now owns 11,991,871 shares of the restaurant operator’s stock worth $236,600,000 after buying an additional 1,203,463 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Bloomin’ Brands by 36,253.0% in the first quarter. BlackRock Inc. now owns 7,091,374 shares of the restaurant operator’s stock worth $139,913,000 after buying an additional 7,071,867 shares during the period. Earnest Partners LLC boosted its stake in shares of Bloomin’ Brands by 37.9% in the first quarter. Earnest Partners LLC now owns 3,911,225 shares of the restaurant operator’s stock worth $77,168,000 after buying an additional 1,074,463 shares during the period. RidgeWorth Capital Management LLC boosted its stake in shares of Bloomin’ Brands by 47.8% in the first quarter. RidgeWorth Capital Management LLC now owns 3,734,317 shares of the restaurant operator’s stock worth $73,678,000 after buying an additional 1,207,202 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Bloomin’ Brands by 3.1% in the first quarter. JPMorgan Chase & Co. now owns 2,394,419 shares of the restaurant operator’s stock worth $47,242,000 after buying an additional 71,063 shares during the period.
Shares of Bloomin’ Brands (NASDAQ:BLMN) opened at 17.43 on Friday. Bloomin’ Brands has a 52-week low of $15.82 and a 52-week high of $22.16. The firm’s 50-day moving average is $19.77 and its 200 day moving average is $19.45. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 19.32 and a beta of 0.72.
Bloomin’ Brands (NASDAQ:BLMN) last posted its earnings results on Wednesday, July 26th. The restaurant operator reported $0.28 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.28. Bloomin’ Brands had a net margin of 2.29% and a return on equity of 74.68%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm posted $0.30 EPS. The business’s quarterly revenue was down 4.2% on a year-over-year basis. Equities analysts expect that Bloomin’ Brands will post $1.42 EPS for the current year.
Bloomin’ Brands declared that its board has approved a share repurchase program on Wednesday, April 26th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the restaurant operator to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, August 7th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.84%. Bloomin’ Brands’s dividend payout ratio is presently 35.56%.
About Bloomin’ Brands
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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