BMO Capital Markets Downgrades Bloomin’ Brands (NASDAQ:BLMN) to Underperform

Bloomin’ Brands (NASDAQ:BLMN) was downgraded by equities researchers at BMO Capital Markets from a “market perform” rating to an “underperform” rating in a research report issued on Thursday, May 23rd, MarketBeat reports. They currently have a $18.00 target price on the restaurant operator’s stock, down from their previous target price of $23.00. BMO Capital Markets’ target price would indicate a potential downside of 9.59% from the stock’s current price.

A number of other equities research analysts also recently issued reports on BLMN. BidaskClub downgraded shares of Bloomin’ Brands from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Bank of America downgraded shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and set a $17.00 price target on the stock. in a research note on Friday, February 8th. William Blair upgraded shares of Bloomin’ Brands from a “market perform” rating to an “outperform” rating in a research note on Friday, February 15th. TheStreet upgraded shares of Bloomin’ Brands from a “c+” rating to a “b” rating in a research note on Friday, February 15th. Finally, Zacks Investment Research upgraded shares of Bloomin’ Brands from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Tuesday, March 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $21.70.

NASDAQ:BLMN traded up $0.06 during mid-day trading on Thursday, reaching $19.91. 1,054,400 shares of the company’s stock were exchanged, compared to its average volume of 1,632,146. Bloomin’ Brands has a one year low of $17.08 and a one year high of $23.16. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 1.25 and a beta of 0.32. The company has a debt-to-equity ratio of 9.20, a quick ratio of 0.21 and a current ratio of 0.30.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Friday, April 26th. The restaurant operator reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Bloomin’ Brands had a net margin of 2.56% and a return on equity of 124.00%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 earnings per share. Sell-side analysts anticipate that Bloomin’ Brands will post 1.58 EPS for the current year.

In other news, Chairman Elizabeth A. Smith sold 65,486 shares of Bloomin’ Brands stock in a transaction on Monday, May 6th. The shares were sold at an average price of $20.00, for a total value of $1,309,720.00. Following the completion of the sale, the chairman now owns 411,733 shares in the company, valued at approximately $8,234,660. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Elizabeth A. Smith sold 116,318 shares of Bloomin’ Brands stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $19.99, for a total transaction of $2,325,196.82. Following the completion of the sale, the insider now owns 411,733 shares of the company’s stock, valued at approximately $8,230,542.67. The disclosure for this sale can be found here. 4.39% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Cerebellum GP LLC increased its stake in Bloomin’ Brands by 18.3% during the 1st quarter. Cerebellum GP LLC now owns 17,011 shares of the restaurant operator’s stock valued at $348,000 after purchasing an additional 2,635 shares in the last quarter. BlueMountain Capital Management LLC increased its stake in Bloomin’ Brands by 65.2% during the 1st quarter. BlueMountain Capital Management LLC now owns 88,560 shares of the restaurant operator’s stock valued at $1,811,000 after purchasing an additional 34,947 shares in the last quarter. Maverick Capital Ltd. bought a new stake in Bloomin’ Brands during the 1st quarter valued at $7,323,000. Schonfeld Strategic Advisors LLC increased its stake in Bloomin’ Brands by 125.7% during the 1st quarter. Schonfeld Strategic Advisors LLC now owns 93,000 shares of the restaurant operator’s stock valued at $1,902,000 after purchasing an additional 51,800 shares in the last quarter. Finally, Daruma Capital Management LLC bought a new stake in Bloomin’ Brands during the 1st quarter valued at $18,965,000. Institutional investors own 94.24% 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.

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Analyst Recommendations for Bloomin` Brands (NASDAQ:BLMN)

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