Bloomin’ Brands (BLMN) Stock Rating Lowered by Zacks Investment Research

Bloomin’ Brands (NASDAQ:BLMN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Bloomin’ Brands, Inc. is a casual dining restaurant company with a portfolio of differentiated restaurant concepts. It has five concepts: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse and Wine Bar and Roy’s. The Company offers its products and services through company owned and franchised locations throughout the United States and internationally. Bloomin’ Brands, Inc. is based in Tampa, Florida. “

Several other analysts also recently weighed in on the stock. Bank of America downgraded shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and set a $17.00 price objective for the company. in a research report on Friday, February 8th. BidaskClub downgraded shares of Bloomin’ Brands from a “buy” rating to a “hold” rating in a research report on Saturday, January 19th. William Blair upgraded shares of Bloomin’ Brands from a “market perform” rating to an “outperform” rating in a research report on Friday, February 15th. JPMorgan Chase & Co. upgraded shares of Bloomin’ Brands from a “neutral” rating to an “overweight” rating and set a $23.00 price objective for the company in a research report on Tuesday, January 8th. Finally, Morgan Stanley upgraded shares of Bloomin’ Brands from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, December 19th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $21.67.

Shares of NASDAQ:BLMN traded down $0.48 during trading on Tuesday, hitting $18.78. 959,800 shares of the company were exchanged, compared to its average volume of 1,359,037. The company has a market capitalization of $1.76 billion, a PE ratio of 12.52, a P/E/G ratio of 1.28 and a beta of 0.33. The company has a current ratio of 0.42, a quick ratio of 0.33 and a debt-to-equity ratio of 19.48. Bloomin’ Brands has a 12-month low of $17.08 and a 12-month high of $24.91.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings data on Thursday, February 14th. The restaurant operator reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.04. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Bloomin’ Brands had a net margin of 2.60% and a return on equity of 178.97%. The company’s revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. As a group, equities research analysts predict that Bloomin’ Brands will post 1.56 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in BLMN. Bank of New York Mellon Corp raised its position in Bloomin’ Brands by 3.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 676,905 shares of the restaurant operator’s stock valued at $13,397,000 after purchasing an additional 21,247 shares during the last quarter. FMR LLC purchased a new stake in Bloomin’ Brands in the 3rd quarter valued at $2,277,000. Credit Suisse AG raised its position in Bloomin’ Brands by 5.3% in the 3rd quarter. Credit Suisse AG now owns 135,968 shares of the restaurant operator’s stock valued at $2,690,000 after purchasing an additional 6,824 shares during the last quarter. Allianz Asset Management GmbH raised its position in Bloomin’ Brands by 78.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 93,016 shares of the restaurant operator’s stock valued at $1,841,000 after purchasing an additional 40,915 shares during the last quarter. Finally, Jefferies Group LLC purchased a new stake in Bloomin’ Brands in the 3rd quarter valued at $199,000. Hedge funds and other institutional investors own 94.80% of the company’s stock.

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.

See Also: Are Wall Street analysts’ stock ratings worth following?

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