Bloomin’ Brands, Inc. (NASDAQ:BLMN) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) have received an average rating of “Reduce” from the eight ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $8.6429.

A number of brokerages recently commented on BLMN. Weiss Ratings reiterated a “sell (d)” rating on shares of Bloomin’ Brands in a research report on Monday, December 29th. Loop Capital set a $10.00 target price on Bloomin’ Brands in a research note on Tuesday, December 16th. The Goldman Sachs Group upgraded Bloomin’ Brands from a “sell” rating to a “neutral” rating and set a $7.00 price target on the stock in a report on Friday, November 7th. Finally, Zacks Research raised shares of Bloomin’ Brands from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th.

Insider Activity at Bloomin’ Brands

In other Bloomin’ Brands news, EVP Eric C. Christel acquired 150,000 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average cost of $6.38 per share, for a total transaction of $957,000.00. Following the completion of the transaction, the executive vice president owned 150,000 shares of the company’s stock, valued at approximately $957,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Patrick M. Hafner sold 4,256 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $6.41, for a total value of $27,280.96. Following the sale, the executive vice president directly owned 8,000 shares of the company’s stock, valued at approximately $51,280. This trade represents a 34.73% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Bloomin’ Brands

A number of hedge funds have recently modified their holdings of the business. Millennium Management LLC raised its holdings in Bloomin’ Brands by 123.1% in the 1st quarter. Millennium Management LLC now owns 2,299,778 shares of the restaurant operator’s stock valued at $16,489,000 after buying an additional 1,268,988 shares during the period. Federated Hermes Inc. increased its position in shares of Bloomin’ Brands by 201,255.8% during the third quarter. Federated Hermes Inc. now owns 956,440 shares of the restaurant operator’s stock valued at $6,858,000 after acquiring an additional 955,965 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Bloomin’ Brands by 32.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,732,038 shares of the restaurant operator’s stock valued at $23,523,000 after acquiring an additional 664,545 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Bloomin’ Brands by 411.8% in the 2nd quarter. Marshall Wace LLP now owns 712,587 shares of the restaurant operator’s stock valued at $6,135,000 after acquiring an additional 573,363 shares during the period. Finally, Counterpoint Mutual Funds LLC lifted its holdings in shares of Bloomin’ Brands by 1,069.7% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 431,359 shares of the restaurant operator’s stock worth $3,093,000 after acquiring an additional 394,480 shares during the last quarter.

Bloomin’ Brands Stock Up 3.0%

Shares of NASDAQ BLMN opened at $6.62 on Friday. The stock has a market cap of $564.16 million, a PE ratio of -9.88 and a beta of 1.15. The company has a current ratio of 0.45, a quick ratio of 0.38 and a debt-to-equity ratio of 2.77. Bloomin’ Brands has a 12-month low of $5.86 and a 12-month high of $12.68. The company has a 50-day moving average of $6.85 and a 200 day moving average of $7.19.

Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Thursday, November 6th. The restaurant operator reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.09. The business had revenue of $928.81 million for the quarter, compared to analysts’ expectations of $905.59 million. Bloomin’ Brands had a positive return on equity of 33.92% and a negative net margin of 1.46%.The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 EPS. As a group, sell-side analysts predict that Bloomin’ Brands will post 1.8 EPS for the current fiscal year.

Bloomin’ Brands Company Profile

Bloomin’ Brands, Inc engages in the ownership, operation and franchising of casual dining restaurants worldwide. The company’s portfolio includes five full-service restaurant chains: Outback Steakhouse, known for its Australian-inspired steakhouse concept; Carrabba’s Italian Grill, offering Italian-American cuisine; Bonefish Grill, specializing in handcrafted seafood dishes; Fleming’s Prime Steakhouse & Wine Bar, focusing on premium steak and wine experiences; and Aussie Grill by Outback, featuring a streamlined menu of signature items.