Bloomin' Brands (NASDAQ:BLMN) was downgraded by Citigroup to a “market perform” rating in a note issued to investors on Wednesday, The Fly reports.

A number of other analysts have also recently weighed in on the company. ValuEngine cut Bloomin' Brands from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Jefferies Group reissued a “hold” rating and issued a $19.00 price objective on shares of Bloomin' Brands in a research report on Thursday, August 31st. Credit Suisse Group lowered their price objective on Bloomin' Brands from $18.50 to $18.00 and set a “neutral” rating for the company in a research report on Monday, November 6th. Bank of America cut Bloomin' Brands from a “buy” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research report on Wednesday, November 22nd. Finally, BMO Capital Markets lowered their price objective on Bloomin' Brands from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Monday, November 6th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $21.00.

Shares of Bloomin' Brands (NASDAQ:BLMN) traded down $0.69 during midday trading on Wednesday, reaching $21.73. The company’s stock had a trading volume of 1,752,818 shares, compared to its average volume of 1,539,359. The company has a debt-to-equity ratio of 31.17, a current ratio of 0.36 and a quick ratio of 0.29. The company has a market cap of $2,021.62, a PE ratio of 17.72, a PEG ratio of 1.33 and a beta of 0.65. Bloomin' Brands has a 1-year low of $16.11 and a 1-year high of $22.47.

Bloomin' Brands (NASDAQ:BLMN) last announced its earnings results on Friday, November 3rd. The restaurant operator reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.04). The company had revenue of $948.90 million for the quarter, compared to the consensus estimate of $944.30 million. Bloomin' Brands had a net margin of 1.93% and a return on equity of 94.30%. The firm’s revenue was down 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.19 EPS. analysts forecast that Bloomin' Brands will post 1.33 EPS for the current year.

In other Bloomin' Brands news, EVP Christopher W. Brandt sold 25,000 shares of Bloomin' Brands stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $20.47, for a total transaction of $511,750.00. Following the completion of the sale, the executive vice president now owns 4,416 shares of the company’s stock, valued at approximately $90,395.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David J. Deno sold 41,097 shares of Bloomin' Brands stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $22.00, for a total value of $904,134.00. Following the sale, the executive vice president now directly owns 15,135 shares of the company’s stock, valued at approximately $332,970. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 167,797 shares of company stock valued at $3,144,784. 7.04% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Jana Partners LLC acquired a new stake in Bloomin' Brands during the 3rd quarter worth about $73,480,000. California Public Employees Retirement System lifted its position in Bloomin' Brands by 29.9% during the 3rd quarter. California Public Employees Retirement System now owns 90,272 shares of the restaurant operator’s stock worth $1,589,000 after acquiring an additional 20,772 shares during the period. Earnest Partners LLC lifted its position in Bloomin' Brands by 1.7% during the 3rd quarter. Earnest Partners LLC now owns 4,023,699 shares of the restaurant operator’s stock worth $70,817,000 after acquiring an additional 68,511 shares during the period. Cornerstone Capital Management Holdings LLC. lifted its position in Bloomin' Brands by 11.2% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 244,881 shares of the restaurant operator’s stock worth $4,309,000 after acquiring an additional 24,600 shares during the period. Finally, Boothbay Fund Management LLC acquired a new stake in Bloomin' Brands during the 3rd quarter worth about $181,000.

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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.

The Fly

Analyst Recommendations for Bloomin' Brands (NASDAQ:BLMN)

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