Bloomin’ Brands Inc. (NASDAQ:BLMN) was downgraded by stock analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday.
BLMN has been the topic of a number of other research reports. Zacks Investment Research raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, September 27th. Morgan Stanley lowered Bloomin’ Brands from an “equal weight” rating to an “underweight” rating and set a $18.00 price objective on the stock. in a research note on Tuesday. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Bloomin’ Brands in a research note on Tuesday, January 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $20.88.
Shares of Bloomin’ Brands (NASDAQ:BLMN) opened at 16.98 on Thursday. The company’s 50-day moving average price is $18.37 and its 200-day moving average price is $18.28. The company has a market cap of $1.86 billion, a P/E ratio of 31.68 and a beta of 0.84. Bloomin’ Brands has a 12 month low of $14.91 and a 12 month high of $19.99.
Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings data on Friday, October 28th. The company reported $0.20 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.20. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. Bloomin’ Brands had a return on equity of 45.13% and a net margin of 1.48%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 earnings per share. Equities analysts forecast that Bloomin’ Brands will post $1.31 EPS for the current fiscal year.
In other Bloomin’ Brands news, Chairman Elizabeth A. Smith sold 287,576 shares of the company’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $17.14, for a total transaction of $4,929,052.64. Following the sale, the chairman now owns 167,313 shares in the company, valued at approximately $2,867,744.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 6.68% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the company. Barnett & Company Inc. increased its stake in shares of Bloomin’ Brands by 20.8% in the third quarter. Barnett & Company Inc. now owns 24,400 shares of the company’s stock valued at $421,000 after buying an additional 4,200 shares during the period. Penn Capital Management Co. Inc. increased its stake in shares of Bloomin’ Brands by 2.6% in the third quarter. Penn Capital Management Co. Inc. now owns 80,413 shares of the company’s stock valued at $1,386,000 after buying an additional 2,068 shares during the period. Eaton Vance Management bought a new stake in shares of Bloomin’ Brands during the third quarter valued at $569,000. Mackenzie Financial Corp increased its stake in shares of Bloomin’ Brands by 6.7% in the third quarter. Mackenzie Financial Corp now owns 48,000 shares of the company’s stock valued at $828,000 after buying an additional 3,000 shares during the period. Finally, Scopus Asset Management L.P. bought a new stake in shares of Bloomin’ Brands during the third quarter valued at $4,578,000. Institutional investors own 94.71% of the company’s stock.
Bloomin’ Brands Company Profile
Bloomin’ Brands, Inc (Bloomin’ Brands) is a holding company engaged in operating casual dining restaurants. The Company has a portfolio of four restaurant concepts: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar. The Company owns and operates approximately 1,340 restaurants and franchises over 170 restaurants across approximately 50 states, Puerto Rico, Guam and approximately 20 countries.