Bloomin’ Brands (NASDAQ:BLMN) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Bloomin’ Brands (NASDAQ:BLMN) from a sell rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

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. “

A number of other research firms have also recently commented on BLMN. BMO Capital Markets upgraded Bloomin’ Brands from an underperform rating to a market perform rating and raised their target price for the company from $17.00 to $19.00 in a research report on Thursday, September 5th. MKM Partners set a $20.00 target price on Bloomin’ Brands and gave the company a buy rating in a research report on Tuesday, September 3rd. Barclays dropped their target price on Bloomin’ Brands from $24.00 to $22.00 and set an overweight rating on the stock in a research report on Friday, October 18th. Loop Capital initiated coverage on Bloomin’ Brands in a research report on Monday, July 22nd. They set a buy rating and a $22.00 target price on the stock. Finally, Deutsche Bank cut Bloomin’ Brands from a buy rating to a hold rating and dropped their target price for the company from $23.00 to $21.00 in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Bloomin’ Brands presently has an average rating of Hold and an average target price of $21.80.

Shares of BLMN traded up $0.02 during midday trading on Wednesday, hitting $23.20. 1,194,400 shares of the company’s stock traded hands, compared to its average volume of 1,553,692. Bloomin’ Brands has a 1 year low of $15.12 and a 1 year high of $23.53. The company has a current ratio of 0.30, a quick ratio of 0.21 and a debt-to-equity ratio of 15.18. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 1.40 and a beta of 0.31. The firm’s fifty day moving average is $19.36 and its 200-day moving average is $18.71.

Bloomin’ Brands (NASDAQ:BLMN) last posted its earnings results on Wednesday, November 6th. The restaurant operator reported $0.10 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.10. Bloomin’ Brands had a return on equity of 105.54% and a net margin of 2.62%. The firm had revenue of $967.14 million for the quarter, compared to analysts’ expectations of $967.04 million. During the same period last year, the firm earned $0.08 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts anticipate that Bloomin’ Brands will post 1.56 EPS for the current year.

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The company also recently disclosed a dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 18th will be issued a $0.10 dividend. This is a boost from Bloomin’ Brands’s previous dividend of $0.06. The ex-dividend date is Friday, November 15th. Bloomin’ Brands’s payout ratio is presently 26.67%.

Hedge funds have recently bought and sold shares of the stock. Stevens Capital Management LP acquired a new stake in Bloomin’ Brands in the 2nd quarter worth about $270,000. Riverhead Capital Management LLC acquired a new stake in Bloomin’ Brands in the 2nd quarter worth about $144,000. Commonwealth Bank of Australia boosted its holdings in Bloomin’ Brands by 66.3% in the 2nd quarter. Commonwealth Bank of Australia now owns 28,100 shares of the restaurant operator’s stock worth $531,000 after buying an additional 11,200 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Bloomin’ Brands by 60.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 80,115 shares of the restaurant operator’s stock worth $1,515,000 after buying an additional 30,042 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Bloomin’ Brands by 31.1% in the 2nd quarter. Morgan Stanley now owns 559,195 shares of the restaurant operator’s stock worth $10,575,000 after buying an additional 132,658 shares during the last quarter. Institutional investors own 94.18% of the company’s stock.

About Bloomin’ Brands

Bloomin' Brands, Inc, through its subsidiaries, owns and operates casual, upscale casual, and fine dining restaurants in the United States and internationally. The company operates through two segments, U.S. and International. Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba's Italian Grill, a casual Italian restaurant; Bonefish Grill, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.

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