Bloomin’ Brands (NASDAQ:BLMN – Get Free Report) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $9.00 to $10.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 13.51% from the stock’s current price.
BLMN has been the subject of several other reports. Wall Street Zen raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. The Goldman Sachs Group decreased their price objective on shares of Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating for the company in a research report on Thursday, February 27th. BMO Capital Markets decreased their price objective on shares of Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating for the company in a research report on Thursday, February 27th. UBS Group decreased their price objective on shares of Bloomin’ Brands from $13.00 to $8.50 and set a “neutral” rating for the company in a research report on Monday, May 5th. Finally, Barclays decreased their price objective on shares of Bloomin’ Brands from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $13.85.
Check Out Our Latest Research Report on Bloomin’ Brands
Bloomin’ Brands Stock Performance
Bloomin’ Brands (NASDAQ:BLMN – Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The restaurant operator reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. Bloomin’ Brands had a negative net margin of 0.05% and a positive return on equity of 55.08%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 earnings per share. On average, equities analysts forecast that Bloomin’ Brands will post 1.8 EPS for the current fiscal year.
Hedge Funds Weigh In On Bloomin’ Brands
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bayforest Capital Ltd acquired a new position in Bloomin’ Brands in the 1st quarter worth approximately $933,000. Caxton Associates LLP acquired a new stake in shares of Bloomin’ Brands during the 1st quarter worth approximately $170,000. Goldman Sachs Group Inc. grew its stake in shares of Bloomin’ Brands by 4.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,048,497 shares of the restaurant operator’s stock worth $7,518,000 after purchasing an additional 43,329 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Bloomin’ Brands during the 1st quarter worth approximately $601,000. Finally, Millennium Management LLC grew its stake in shares of Bloomin’ Brands by 123.1% during the 1st quarter. Millennium Management LLC now owns 2,299,778 shares of the restaurant operator’s stock worth $16,489,000 after purchasing an additional 1,268,988 shares during the period.
About Bloomin’ Brands
Bloomin’ Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.
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