Bloomin’ Brands (NASDAQ:BLMN) Lowered to “Underperform” Rating by Bank of America

Bloomin’ Brands (NASDAQ:BLMN) was downgraded by stock analysts at Bank of America from a “neutral” rating to an “underperform” rating in a report released on Monday,Briefing.com Automated Import reports. They presently have a $13.00 price target on the restaurant operator’s stock. Bank of America‘s target price suggests a potential upside of 5.43% from the stock’s current price.

BLMN has been the topic of a number of other reports. The Goldman Sachs Group initiated coverage on shares of Bloomin’ Brands in a research note on Thursday, December 5th. They issued a “sell” rating and a $13.00 price target on the stock. JPMorgan Chase & Co. cut their target price on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 12th. Barclays reiterated an “equal weight” rating and set a $13.00 price target (down from $19.00) on shares of Bloomin’ Brands in a report on Tuesday, January 7th. UBS Group cut their price objective on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Raymond James cut Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. Three analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat.com, Bloomin’ Brands has an average rating of “Hold” and an average price target of $16.30.

Bloomin’ Brands Price Performance

Bloomin’ Brands stock opened at $12.33 on Monday. The firm has a market cap of $1.05 billion, a PE ratio of -112.08 and a beta of 1.97. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22. The stock’s fifty day moving average price is $12.42 and its two-hundred day moving average price is $15.37. Bloomin’ Brands has a one year low of $11.03 and a one year high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings data on Friday, November 8th. The restaurant operator reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the business posted $0.44 earnings per share. Bloomin’ Brands’s revenue was down 5.1% compared to the same quarter last year. As a group, research analysts expect that Bloomin’ Brands will post 1.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Bloomin’ Brands

A number of hedge funds have recently added to or reduced their stakes in the company. Erste Asset Management GmbH bought a new stake in shares of Bloomin’ Brands during the third quarter worth about $41,325,000. Millennium Management LLC increased its holdings in Bloomin’ Brands by 2,520.7% during the 2nd quarter. Millennium Management LLC now owns 468,507 shares of the restaurant operator’s stock worth $9,009,000 after purchasing an additional 450,630 shares in the last quarter. FMR LLC increased its holdings in Bloomin’ Brands by 34.8% during the 3rd quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock worth $22,830,000 after purchasing an additional 356,456 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Bloomin’ Brands by 58.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 691,585 shares of the restaurant operator’s stock worth $11,432,000 after purchasing an additional 254,570 shares during the last quarter. Finally, Systematic Financial Management LP lifted its holdings in shares of Bloomin’ Brands by 76.5% in the second quarter. Systematic Financial Management LP now owns 544,742 shares of the restaurant operator’s stock valued at $10,475,000 after purchasing an additional 236,037 shares in the last quarter.

Bloomin’ Brands Company Profile

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; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.