Bloomin’ Brands (NASDAQ:BLMN) Trading Up 18.8%

Bloomin’ Brands Inc (NASDAQ:BLMN)’s stock price was up 18.8% during trading on Wednesday . The stock traded as high as $7.79 and last traded at $8.47, approximately 460,504 shares traded hands during trading. A decline of 83% from the average daily volume of 2,662,541 shares. The stock had previously closed at $7.13.

Several equities analysts have recently commented on BLMN shares. Guggenheim upped their target price on Bloomin’ Brands from $27.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Goldman Sachs Group started coverage on Bloomin’ Brands in a report on Thursday, December 12th. They set a “buy” rating and a $25.00 target price for the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $23.00 target price on shares of Bloomin’ Brands in a report on Wednesday, February 19th. Morgan Stanley upped their target price on Bloomin’ Brands from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Finally, ValuEngine lowered Bloomin’ Brands from a “sell” rating to a “strong sell” rating in a report on Friday, March 20th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $23.70.

The firm has a market capitalization of $620.53 million, a P/E ratio of 5.44, a price-to-earnings-growth ratio of 0.91 and a beta of 0.44. The business has a fifty day moving average of $16.15 and a 200-day moving average of $19.84. The company has a debt-to-equity ratio of 12.97, a quick ratio of 0.26 and a current ratio of 0.35.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings data on Tuesday, February 18th. The restaurant operator reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Bloomin’ Brands had a return on equity of 74.91% and a net margin of 3.15%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the company earned $0.30 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities research analysts forecast that Bloomin’ Brands Inc will post 0.98 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 28th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 10.20%. This is a positive change from Bloomin’ Brands’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, February 27th. Bloomin’ Brands’s dividend payout ratio is 32.47%.

Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its holdings in Bloomin’ Brands by 71.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,660 shares of the restaurant operator’s stock worth $31,000 after buying an additional 694 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Bloomin’ Brands in the fourth quarter worth approximately $39,000. CFM Wealth Partners LLC acquired a new stake in Bloomin’ Brands in the fourth quarter worth approximately $45,000. Fieldpoint Private Securities LLC lifted its position in Bloomin’ Brands by 75.4% in the fourth quarter. Fieldpoint Private Securities LLC now owns 2,458 shares of the restaurant operator’s stock worth $54,000 after purchasing an additional 1,057 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Bloomin’ Brands in the fourth quarter worth approximately $117,000. 96.17% of the stock is owned by institutional investors and hedge funds.

Bloomin’ Brands Company Profile (NASDAQ:BLMN)

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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