Bloomin’ Brands (NASDAQ:BLMN) Receives Equal Weight Rating from Barclays

Bloomin’ Brands (NASDAQ:BLMN)‘s stock had its “equal weight” rating reissued by investment analysts at Barclays in a report released on Tuesday, Marketbeat Ratings reports. They currently have a $13.00 price objective on the restaurant operator’s stock, down from their previous price objective of $19.00. Barclays‘s price objective points to a potential upside of 3.01% from the stock’s current price.

A number of other research firms have also weighed in on BLMN. The Goldman Sachs Group initiated coverage on Bloomin’ Brands in a research note on Thursday, December 5th. They issued a “sell” rating and a $13.00 price objective for the company. Bank of America cut their price objective on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their target price on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, November 12th. Piper Sandler dropped their target price on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Finally, StockNews.com upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Bloomin’ Brands currently has a consensus rating of “Hold” and a consensus target price of $17.40.

Bloomin’ Brands Price Performance

NASDAQ BLMN opened at $12.62 on Tuesday. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46. Bloomin’ Brands has a 12 month low of $11.24 and a 12 month high of $30.13. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -114.72 and a beta of 1.97. The company’s 50 day moving average is $13.42 and its two-hundred day moving average is $16.04.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. The company’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the firm earned $0.44 EPS. As a group, research analysts anticipate that Bloomin’ Brands will post 1.8 earnings per share for the current year.

Institutional Investors Weigh In On Bloomin’ Brands

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in shares of Bloomin’ Brands by 606.6% in the 4th quarter. GAMMA Investing LLC now owns 4,890 shares of the restaurant operator’s stock worth $60,000 after purchasing an additional 4,198 shares during the period. Principal Financial Group Inc. boosted its stake in Bloomin’ Brands by 6.2% during the third quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock worth $41,806,000 after buying an additional 147,895 shares during the period. Franklin Resources Inc. increased its position in Bloomin’ Brands by 2.9% during the third quarter. Franklin Resources Inc. now owns 50,007 shares of the restaurant operator’s stock valued at $773,000 after acquiring an additional 1,392 shares during the last quarter. Barclays PLC raised its stake in shares of Bloomin’ Brands by 29.4% in the third quarter. Barclays PLC now owns 219,080 shares of the restaurant operator’s stock valued at $3,621,000 after acquiring an additional 49,723 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Bloomin’ Brands in the 3rd quarter worth about $500,000.

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.