MKM Partners Initiates Coverage on Bloomin’ Brands (NASDAQ:BLMN)

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Stock analysts at MKM Partners began coverage on shares of Bloomin’ Brands (NASDAQ:BLMN) in a report released on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $20.00 price target on the restaurant operator’s stock. MKM Partners’ price target points to a potential upside of 25.04% from the stock’s previous close.

A number of other equities research analysts have also recently commented on BLMN. TheStreet cut shares of Bloomin’ Brands from a “b-” rating to a “c+” rating in a report on Monday, August 5th. BidaskClub raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Tuesday, August 6th. Tigress Financial reissued a “buy” rating on shares of Bloomin’ Brands in a report on Thursday, April 18th. Loop Capital started coverage on shares of Bloomin’ Brands in a report on Monday, July 22nd. They set a “buy” rating and a $22.00 price target for the company. Finally, Guggenheim raised shares of Bloomin’ Brands from a “neutral” rating to a “buy” rating and set a $25.00 price target for the company in a report on Friday, May 24th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $21.36.

Shares of NASDAQ:BLMN opened at $16.00 on Tuesday. The company has a 50-day simple moving average of $17.64. Bloomin’ Brands has a one year low of $15.94 and a one year high of $22.22. The company has a quick ratio of 0.21, a current ratio of 0.30 and a debt-to-equity ratio of 15.18. The stock has a market capitalization of $1.45 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.10 and a beta of 0.23.

Bloomin’ Brands (NASDAQ:BLMN) last announced its earnings results on Wednesday, July 31st. The restaurant operator reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Bloomin’ Brands had a net margin of 2.62% and a return on equity of 105.54%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the company earned $0.36 earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year. On average, equities research analysts forecast that Bloomin’ Brands will post 1.58 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. raised its position in Bloomin’ Brands by 72.0% in the fourth quarter. Advisor Group Inc. now owns 3,233 shares of the restaurant operator’s stock valued at $57,000 after purchasing an additional 1,353 shares during the period. Principal Financial Group Inc. increased its position in shares of Bloomin’ Brands by 49.4% during the fourth quarter. Principal Financial Group Inc. now owns 75,509 shares of the restaurant operator’s stock worth $1,351,000 after acquiring an additional 24,980 shares during the period. Legal & General Group Plc increased its position in shares of Bloomin’ Brands by 3.4% during the fourth quarter. Legal & General Group Plc now owns 69,098 shares of the restaurant operator’s stock worth $1,237,000 after acquiring an additional 2,261 shares during the period. Amalgamated Bank purchased a new stake in shares of Bloomin’ Brands during the fourth quarter worth $218,000. Finally, Norges Bank purchased a new stake in shares of Bloomin’ Brands during the fourth quarter worth $32,422,000. 94.52% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Bloomin` Brands (NASDAQ:BLMN)

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