Barclays Cuts Bloomin’ Brands (NASDAQ:BLMN) Price Target to $20.00

Bloomin’ Brands (NASDAQ:BLMN) had its target price lowered by Barclays from $22.00 to $20.00 in a research note published on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the restaurant operator’s stock.

Several other brokerages have also recently commented on BLMN. Morgan Stanley dropped their target price on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft cut their target price on Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. BMO Capital Markets decreased their target price on Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. Citigroup lowered their price target on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. Finally, StockNews.com lowered shares of Bloomin’ Brands from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.80.

Bloomin’ Brands Trading Down 0.3 %

Shares of BLMN opened at $15.96 on Tuesday. The stock’s fifty day simple moving average is $16.70 and its 200-day simple moving average is $19.62. The firm has a market capitalization of $1.38 billion, a PE ratio of 24.94 and a beta of 2.04. Bloomin’ Brands has a 12-month low of $15.14 and a 12-month high of $30.13. The company has a quick ratio of 0.26, a current ratio of 0.35 and a debt-to-equity ratio of 3.46.

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

Institutional Investors Weigh In On Bloomin’ Brands

Several large investors have recently made changes to their positions in BLMN. Xcel Wealth Management LLC raised its position in Bloomin’ Brands by 19.4% during the third quarter. Xcel Wealth Management LLC now owns 248,078 shares of the restaurant operator’s stock worth $4,101,000 after acquiring an additional 40,225 shares in the last quarter. Creative Planning bought a new stake in shares of Bloomin’ Brands in the 3rd quarter valued at about $219,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Bloomin’ Brands in the 2nd quarter valued at about $111,000. Sanctuary Advisors LLC bought a new position in Bloomin’ Brands during the second quarter worth about $351,000. Finally, Dana Investment Advisors Inc. increased its position in Bloomin’ Brands by 28.7% during the second quarter. Dana Investment Advisors Inc. now owns 70,666 shares of the restaurant operator’s stock worth $1,359,000 after buying an additional 15,756 shares during 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.