Bloomin’ Brands (NASDAQ:BLMN) Price Target Cut to $22.00

Bloomin’ Brands (NASDAQ:BLMN) had its target price dropped by analysts at Barclays from $30.00 to $22.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the restaurant operator’s stock. Barclays‘s target price points to a potential upside of 30.02% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets cut their price objective on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating on the stock in a report on Wednesday. Morgan Stanley cut their price target on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. UBS Group cut their price target on shares of Bloomin’ Brands from $30.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Bloomin’ Brands from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 28th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $24.00.

Bloomin’ Brands Stock Performance

Bloomin’ Brands stock traded down $0.06 during mid-day trading on Wednesday, reaching $16.92. The company’s stock had a trading volume of 576,071 shares, compared to its average volume of 1,478,959. Bloomin’ Brands has a 12-month low of $16.20 and a 12-month high of $30.13. The company has a market capitalization of $1.46 billion, a P/E ratio of 26.80 and a beta of 2.04. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.26 and a current ratio of 0.33. The firm’s fifty day moving average price is $19.26 and its two-hundred day moving average price is $23.96.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.07). Bloomin’ Brands had a net margin of 1.56% and a return on equity of 65.73%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Sell-side analysts predict that Bloomin’ Brands will post 2.37 EPS for the current fiscal year.

Institutional Trading of Bloomin’ Brands

Several institutional investors and hedge funds have recently modified their holdings of the company. Choreo LLC bought a new stake in shares of Bloomin’ Brands during the 2nd quarter valued at $307,000. Foundry Partners LLC grew its stake in Bloomin’ Brands by 5.3% during the second quarter. Foundry Partners LLC now owns 257,162 shares of the restaurant operator’s stock valued at $4,945,000 after acquiring an additional 12,944 shares in the last quarter. Victory Capital Management Inc. grew its stake in Bloomin’ Brands by 29.6% during the second quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator’s stock valued at $47,923,000 after acquiring an additional 569,855 shares in the last quarter. Foster & Motley Inc. grew its stake in Bloomin’ Brands by 75.2% during the second quarter. Foster & Motley Inc. now owns 32,943 shares of the restaurant operator’s stock valued at $633,000 after acquiring an additional 14,138 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Bloomin’ Brands by 0.8% during the second quarter. Rhumbline Advisers now owns 256,123 shares of the restaurant operator’s stock valued at $4,925,000 after acquiring an additional 2,127 shares in the last quarter.

Bloomin’ Brands Company Profile

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; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.