Bloomin’ Brands, Inc. (BLMN) Downgraded by Zacks Investment Research to “Sell”

Bloomin’ Brands, Inc. (BLMN) Downgraded by Zacks Investment Research to “Sell”

According to Zacks, “Bloomin’ Brands, Inc. is a casual dining restaurant company with a portfolio of differentiated restaurant concepts. It has five concepts: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse and Wine Bar and Roy’s. The Company offers its products and services through company owned and franchised locations throughout the United States and internationally. Bloomin’ Brands, Inc. is based in Tampa, Florida. “

BLMN has been the subject of several other reports. TheStreet downgraded Bloomin’ Brands from a b rating to a c+ rating in a research report on Wednesday, July 26th. ValuEngine downgraded Bloomin’ Brands from a buy rating to a hold rating in a research report on Friday, September 1st. Deutsche Bank AG reiterated a hold rating and issued a $24.00 target price (up from $21.00) on shares of Bloomin’ Brands in a research report on Monday, July 10th. BidaskClub downgraded Bloomin’ Brands from a hold rating to a sell rating in a research report on Monday, July 31st. Finally, Jefferies Group LLC reiterated a hold rating and issued a $19.00 target price on shares of Bloomin’ Brands in a research report on Thursday, August 31st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $20.63.

Shares of Bloomin’ Brands (BLMN) opened at 17.60 on Tuesday. Bloomin’ Brands has a 12 month low of $15.82 and a 12 month high of $22.16. The company has a 50-day moving average price of $17.18 and a 200-day moving average price of $19.42. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 19.51 and a beta of 0.73.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Wednesday, July 26th. The restaurant operator reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. Bloomin’ Brands had a return on equity of 74.68% and a net margin of 2.29%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the company earned $0.30 EPS. Bloomin’ Brands’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities analysts forecast that Bloomin’ Brands will post $1.42 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC increased its stake in shares of Bloomin’ Brands by 4.5% in the first quarter. Lazard Asset Management LLC now owns 1,198,517 shares of the restaurant operator’s stock valued at $23,646,000 after buying an additional 52,138 shares during the period. TCW Group Inc. increased its stake in shares of Bloomin’ Brands by 118.7% in the first quarter. TCW Group Inc. now owns 78,191 shares of the restaurant operator’s stock valued at $1,543,000 after buying an additional 42,436 shares during the period. Prudential Financial Inc. increased its stake in shares of Bloomin’ Brands by 2.2% in the first quarter. Prudential Financial Inc. now owns 577,130 shares of the restaurant operator’s stock valued at $11,387,000 after buying an additional 12,490 shares during the period. Chicago Equity Partners LLC increased its stake in shares of Bloomin’ Brands by 749.7% in the second quarter. Chicago Equity Partners LLC now owns 234,090 shares of the restaurant operator’s stock valued at $4,970,000 after buying an additional 206,540 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Bloomin’ Brands by 4.9% in the first quarter. Legal & General Group Plc now owns 116,837 shares of the restaurant operator’s stock valued at $2,305,000 after buying an additional 5,407 shares during the period.

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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