Bloomin’ Brands (NASDAQ:BLMN) PT Raised to $33.00


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Bloomin’ Brands (NASDAQ:BLMN) had its target price raised by equities researchers at Wells Fargo & Company from $26.00 to $33.00 in a note issued to investors on Thursday, The Fly reports. Wells Fargo & Company‘s price objective would suggest a potential upside of 17.19% from the company’s current price.

Several other research firms also recently commented on BLMN. Raymond James boosted their target price on shares of Bloomin’ Brands from $29.00 to $32.50 and gave the stock a “strong-buy” rating in a research report on Monday, March 29th. MKM Partners upped their price objective on shares of Bloomin’ Brands from $27.00 to $32.00 in a report on Thursday, April 1st. Credit Suisse Group raised their target price on Bloomin’ Brands from $21.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, February 25th. Zacks Investment Research upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Monday, March 1st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $28.00 target price on shares of Bloomin’ Brands in a research report on Monday, March 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $23.09.

Shares of NASDAQ:BLMN opened at $28.16 on Thursday. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of -20.55 and a beta of 1.97. Bloomin’ Brands has a 1 year low of $8.01 and a 1 year high of $29.95. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 88.59. The business has a fifty day simple moving average of $27.37 and a 200 day simple moving average of $20.99.

Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Wednesday, February 17th. The restaurant operator reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. The company had revenue of $812.51 million for the quarter, compared to analyst estimates of $848.14 million. Bloomin’ Brands had a negative return on equity of 39.30% and a negative net margin of 3.45%. On average, sell-side analysts forecast that Bloomin’ Brands will post -0.72 EPS for the current year.

In other Bloomin’ Brands news, Director Elizabeth A. Smith sold 150,000 shares of the business’s stock in a transaction dated Monday, February 22nd. The shares were sold at an average price of $26.13, for a total value of $3,919,500.00. Following the transaction, the director now directly owns 662,204 shares in the company, valued at $17,303,390.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.39% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Bloomin’ Brands by 5.3% during the 4th quarter. BlackRock Inc. now owns 12,529,919 shares of the restaurant operator’s stock worth $243,333,000 after acquiring an additional 632,506 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Bloomin’ Brands by 137.6% in the 4th quarter. Bank of New York Mellon Corp now owns 2,309,703 shares of the restaurant operator’s stock valued at $44,856,000 after buying an additional 1,337,596 shares during the last quarter. Morgan Stanley increased its stake in shares of Bloomin’ Brands by 9.2% in the 4th quarter. Morgan Stanley now owns 1,499,809 shares of the restaurant operator’s stock valued at $29,127,000 after buying an additional 126,732 shares during the period. Principal Financial Group Inc. raised its position in shares of Bloomin’ Brands by 6.4% during the fourth quarter. Principal Financial Group Inc. now owns 1,170,034 shares of the restaurant operator’s stock worth $22,722,000 after acquiring an additional 70,256 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Bloomin’ Brands by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,158,883 shares of the restaurant operator’s stock valued at $22,506,000 after acquiring an additional 39,810 shares during the period. 95.62% of the stock is currently owned by institutional investors.

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, a 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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