Bloomin’ Brands (NASDAQ:BLMN) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Bloomin’ Brands (NASDAQ:BLMN) from a sell rating to a hold rating in a report issued on Saturday.

BLMN has been the topic of a number of other research reports. Citigroup dropped their price objective on Bloomin’ Brands from $22.00 to $20.00 and set a neutral rating on the stock in a report on Monday, August 19th. Barclays lowered their price objective on shares of Bloomin’ Brands from $30.00 to $22.00 and set an overweight rating on the stock in a research note on Wednesday, August 7th. BMO Capital Markets cut their price target on Bloomin’ Brands from $27.00 to $20.00 and set a market perform rating for the company in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Bloomin’ Brands from $26.00 to $19.00 and set a hold rating for the company in a report on Wednesday, August 7th. Finally, Morgan Stanley decreased their price target on Bloomin’ Brands from $26.00 to $22.00 and set an equal weight rating on the stock in a research note on Tuesday, July 16th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bloomin’ Brands presently has an average rating of Hold and a consensus price target of $22.33.

Bloomin’ Brands Price Performance

BLMN stock opened at $15.45 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.26 and a debt-to-equity ratio of 3.46. The firm has a market capitalization of $1.34 billion, a PE ratio of 24.14 and a beta of 2.04. Bloomin’ Brands has a one year low of $15.14 and a one year high of $30.13. The firm has a 50-day moving average of $16.80 and a two-hundred day moving average of $20.35.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.07). The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.13 billion. Bloomin’ Brands had a return on equity of 61.90% and a net margin of 0.70%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 earnings per share. On average, analysts forecast that Bloomin’ Brands will post 2.08 earnings per share for the current year.

Bloomin’ Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date was Tuesday, August 20th. Bloomin’ Brands’s dividend payout ratio is currently 150.00%.

Institutional Investors Weigh In On Bloomin’ Brands

Institutional investors and hedge funds have recently made changes to their positions in the company. Rye Brook Capital LLC increased its position in Bloomin’ Brands by 0.3% in the first quarter. Rye Brook Capital LLC now owns 247,700 shares of the restaurant operator’s stock worth $7,104,000 after purchasing an additional 700 shares during the period. SummerHaven Investment Management LLC grew its position in shares of Bloomin’ Brands by 2.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 27,857 shares of the restaurant operator’s stock worth $536,000 after buying an additional 718 shares during the period. Texas Permanent School Fund Corp grew its position in shares of Bloomin’ Brands by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 75,979 shares of the restaurant operator’s stock worth $2,179,000 after buying an additional 1,017 shares during the period. Headlands Technologies LLC bought a new stake in shares of Bloomin’ Brands during the first quarter worth approximately $30,000. Finally, Hsbc Holdings PLC lifted its holdings in Bloomin’ Brands by 8.7% in the second quarter. Hsbc Holdings PLC now owns 13,567 shares of the restaurant operator’s stock valued at $258,000 after buying an additional 1,083 shares during the period.

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