Bloomin’ Brands (NASDAQ:BLMN) PT Lowered to $19.00 at Bank of America

Bloomin’ Brands (NASDAQ:BLMN) had its price target cut by investment analysts at Bank of America from $22.00 to $19.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the restaurant operator’s stock. Bank of America‘s price objective points to a potential upside of 18.53% from the company’s previous close.

Several other analysts also recently weighed in on BLMN. Morgan Stanley lowered their target price 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. Barclays decreased their price objective on shares of Bloomin’ Brands from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. BMO Capital Markets decreased 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, August 7th. Finally, UBS Group decreased their price objective on shares of Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $21.80.

Bloomin’ Brands Stock Performance

Shares of NASDAQ:BLMN traded down $0.42 during midday trading on Tuesday, hitting $16.03. The stock had a trading volume of 376,584 shares, compared to its average volume of 1,455,251. The company has a market capitalization of $1.39 billion, a PE ratio of 25.11 and a beta of 2.04. The stock has a 50 day moving average price of $16.77 and a two-hundred day moving average price of $19.83. The company has a current ratio of 0.35, a quick ratio of 0.26 and a debt-to-equity ratio of 3.46. Bloomin’ Brands has a 1 year low of $15.14 and a 1 year high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Tuesday, August 6th. The restaurant operator reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.07). The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Bloomin’ Brands had a net margin of 0.70% and a return on equity of 61.90%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. As a group, equities analysts predict that Bloomin’ Brands will post 2.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bloomin’ Brands

Several institutional investors and hedge funds have recently modified their holdings of BLMN. Headlands Technologies LLC purchased a new position in shares of Bloomin’ Brands during the first quarter valued at approximately $30,000. EntryPoint Capital LLC lifted its stake in shares of Bloomin’ Brands by 6,454.9% during the first quarter. EntryPoint Capital LLC now owns 3,343 shares of the restaurant operator’s stock valued at $96,000 after buying an additional 3,292 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Bloomin’ Brands during the second quarter valued at approximately $111,000. Point72 DIFC Ltd purchased a new position in shares of Bloomin’ Brands during the second quarter valued at approximately $169,000. Finally, Bayesian Capital Management LP purchased a new position in shares of Bloomin’ Brands during the first quarter valued at approximately $219,000.

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