Bloomin’ Brands (NASDAQ:BLMN) Upgraded to “Hold” at ValuEngine

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ValuEngine upgraded shares of Bloomin’ Brands (NASDAQ:BLMN) from a sell rating to a hold rating in a research report report published on Monday morning, ValuEngine reports.

Other analysts also recently issued research reports about the company. Loop Capital assumed coverage on Bloomin’ Brands in a research note on Monday, July 22nd. They issued a buy rating and a $22.00 target price on the stock. TheStreet downgraded Bloomin’ Brands from a b- rating to a c+ rating in a research note on Monday, August 5th. Guggenheim upgraded Bloomin’ Brands from a neutral rating to a buy rating and set a $25.00 target price on the stock in a research note on Friday, May 24th. JPMorgan Chase & Co. lowered their target price on Bloomin’ Brands from $23.00 to $22.00 and set an overweight rating on the stock in a research note on Friday, June 28th. Finally, BidaskClub upgraded Bloomin’ Brands from a hold rating to a buy rating in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. Bloomin’ Brands has an average rating of Buy and an average price target of $21.80.

Shares of BLMN opened at $20.95 on Monday. Bloomin’ Brands has a 52 week low of $15.12 and a 52 week 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 company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 1.33 and a beta of 0.27. The stock’s 50-day moving average price is $17.44 and its 200-day moving average price is $18.89.

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

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Monday, August 12th were issued a $0.10 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.40 dividend on an annualized basis and a yield of 1.91%. Bloomin’ Brands’s payout ratio is 26.67%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Bloomin’ Brands by 91.6% in the 2nd quarter. BlackRock Inc. now owns 14,314,548 shares of the restaurant operator’s stock worth $270,689,000 after purchasing an additional 6,842,170 shares during the period. Cresset Asset Management LLC raised its holdings in Bloomin’ Brands by 390.9% in the 2nd quarter. Cresset Asset Management LLC now owns 10,461 shares of the restaurant operator’s stock worth $198,000 after purchasing an additional 8,330 shares during the period. Royal Bank of Canada raised its holdings in Bloomin’ Brands by 78.1% in the 2nd quarter. Royal Bank of Canada now owns 34,884 shares of the restaurant operator’s stock worth $660,000 after purchasing an additional 15,295 shares during the period. Verition Fund Management LLC acquired a new position in Bloomin’ Brands in the 2nd quarter worth about $447,000. Finally, Factorial Partners LLC raised its holdings in Bloomin’ Brands by 6.3% in the 2nd quarter. Factorial Partners LLC now owns 42,300 shares of the restaurant operator’s stock worth $800,000 after purchasing an additional 2,500 shares during the period.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Bloomin` Brands (NASDAQ:BLMN)

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