Bloomin’ Brands (NASDAQ:BLMN) Research Coverage Started at Citigroup

Research analysts at Citigroup began coverage on shares of Bloomin’ Brands (NASDAQ:BLMNGet Rating) in a note issued to investors on Tuesday, April 12th, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $24.00 price target on the restaurant operator’s stock. Citigroup’s price target indicates a potential upside of 4.62% from the company’s current price.

Other research analysts have also recently issued reports about the company. StockNews.com began coverage on Bloomin’ Brands in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Morgan Stanley raised their target price on Bloomin’ Brands from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Monday, February 21st. Zacks Investment Research raised Bloomin’ Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 24th. TheStreet raised Bloomin’ Brands from a “c” rating to a “b-” rating in a research report on Friday, February 18th. Finally, William Blair reiterated an “outperform” rating on shares of Bloomin’ Brands in a research note on Friday, February 18th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Bloomin’ Brands presently has a consensus rating of “Buy” and a consensus target price of $29.64.

Shares of BLMN traded down $0.03 during mid-day trading on Tuesday, hitting $22.94. The company’s stock had a trading volume of 1,937,133 shares, compared to its average volume of 1,873,164. Bloomin’ Brands has a one year low of $17.29 and a one year high of $31.08. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.28 and a current ratio of 0.36. The firm has a market capitalization of $2.06 billion, a PE ratio of 10.94 and a beta of 1.79. The stock’s 50-day moving average is $21.71 and its two-hundred day moving average is $21.14.

Bloomin’ Brands (NASDAQ:BLMNGet Rating) last posted its quarterly earnings data on Friday, April 29th. The restaurant operator reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.06. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Bloomin’ Brands had a return on equity of 151.95% and a net margin of 5.20%. Bloomin’ Brands’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 earnings per share. Analysts expect that Bloomin’ Brands will post 2.5 EPS for the current fiscal year.

In other news, Director Elizabeth A. Smith sold 191,131 shares of the firm’s stock in a transaction on Wednesday, February 23rd. The stock was sold at an average price of $24.14, for a total value of $4,613,902.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.85% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Hudson Bay Capital Management LP boosted its holdings in Bloomin’ Brands by 1,050.0% during the third quarter. Hudson Bay Capital Management LP now owns 230,000 shares of the restaurant operator’s stock worth $5,750,000 after buying an additional 210,000 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Bloomin’ Brands by 91.2% during the third quarter. BNP Paribas Arbitrage SA now owns 97,281 shares of the restaurant operator’s stock worth $2,432,000 after buying an additional 46,400 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Bloomin’ Brands by 23.5% during the third quarter. Principal Financial Group Inc. now owns 1,600,303 shares of the restaurant operator’s stock worth $40,008,000 after buying an additional 304,437 shares during the last quarter. Maryland State Retirement & Pension System bought a new position in Bloomin’ Brands during the third quarter worth about $826,000. Finally, Pekin Hardy Strauss Inc. bought a new position in Bloomin’ Brands during the fourth quarter worth about $3,222,000.

Bloomin’ Brands Company Profile (Get Rating)

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.

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Analyst Recommendations for Bloomin' Brands (NASDAQ:BLMN)

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