Bloomin' Brands (BLMN) Lowered to Market Perform at Raymond James Financial

Bloomin' Brands (NASDAQ:BLMN) was downgraded by Raymond James Financial from an “outperform” rating to a “market perform” rating in a research note issued on Wednesday.

A number of other equities analysts have also weighed in on the company. ValuEngine lowered Bloomin' Brands from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Bank of America lowered Bloomin' Brands from a “buy” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research note on Wednesday, November 22nd. Jefferies Group reiterated a “hold” rating and set a $19.00 price objective on shares of Bloomin' Brands in a research note on Thursday, August 31st. Credit Suisse Group reduced their price objective on Bloomin' Brands from $18.50 to $18.00 and set a “neutral” rating for the company in a research note on Monday, November 6th. Finally, Barclays reduced their price objective on Bloomin' Brands from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 18th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. Bloomin' Brands has a consensus rating of “Hold” and an average price target of $21.00.

Bloomin' Brands (BLMN) traded up $0.27 during midday trading on Wednesday, hitting $22.42. The company’s stock had a trading volume of 1,635,100 shares, compared to its average volume of 1,538,447. The stock has a market cap of $2,021.62, a price-to-earnings ratio of 17.72, a P/E/G ratio of 1.33 and a beta of 0.65. Bloomin' Brands has a twelve month low of $16.11 and a twelve month high of $22.47. The company has a debt-to-equity ratio of 31.17, a current ratio of 0.36 and a quick ratio of 0.29.

Bloomin' Brands (NASDAQ:BLMN) last released its quarterly earnings data on Friday, November 3rd. The restaurant operator reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.04). The company had revenue of $948.90 million for the quarter, compared to analysts’ expectations of $944.30 million. Bloomin' Brands had a net margin of 1.93% and a return on equity of 94.30%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.19 EPS. sell-side analysts expect that Bloomin' Brands will post 1.33 earnings per share for the current year.

In other Bloomin' Brands news, CEO Elizabeth A. Smith sold 1,700 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $17.00, for a total transaction of $28,900.00. Following the completion of the sale, the chief executive officer now directly owns 82,935 shares in the company, valued at approximately $1,409,895. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Christopher W. Brandt sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $20.47, for a total value of $511,750.00. Following the sale, the executive vice president now owns 4,416 shares of the company’s stock, valued at $90,395.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 126,700 shares of company stock valued at $2,240,650. 7.04% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Jana Partners LLC purchased a new stake in Bloomin' Brands during the 3rd quarter worth approximately $73,480,000. Earnest Partners LLC increased its stake in Bloomin' Brands by 1.7% during the 3rd quarter. Earnest Partners LLC now owns 4,023,699 shares of the restaurant operator’s stock worth $70,817,000 after buying an additional 68,511 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Bloomin' Brands by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,960,065 shares of the restaurant operator’s stock worth $52,097,000 after buying an additional 23,110 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Bloomin' Brands by 0.4% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,270,893 shares of the restaurant operator’s stock worth $39,968,000 after buying an additional 8,286 shares in the last quarter. Finally, State Street Corp increased its stake in Bloomin' Brands by 2.3% during the 2nd quarter. State Street Corp now owns 2,163,384 shares of the restaurant operator’s stock worth $45,931,000 after buying an additional 48,043 shares in the last quarter.

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About Bloomin' Brands

Bloomin’ Brands, Inc is a holding company. The Company owns and operates casual, upscale casual and fine dining restaurants. The Company operates through two segments: U.S. and International. The U.S. segment includes all brands operating in the United States. The International segment includes brands operating outside the United States.

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