Bloomin’ Brands (NASDAQ:BLMN) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Bloomin’ Brands (NASDAQ:BLMNGet Rating) from a hold rating to a buy rating in a report published on Wednesday morning, Zacks.com reports. The brokerage currently has $26.00 price target on the restaurant operator’s stock.

According to Zacks, “Bloomin’ Brands, Inc. is a casual dining restaurant company with a portfolio of differentiated restaurant concepts. It has five concepts: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse and Wine Bar and Roy’s. The Company offers its products and services through company owned and franchised locations throughout the United States and internationally. Bloomin’ Brands, Inc. is based in Tampa, Florida. “

Several other brokerages have also commented on BLMN. Citigroup assumed coverage on shares of Bloomin’ Brands in a research report on Tuesday, April 12th. They set a neutral rating and a $24.00 price target for the company. StockNews.com began coverage on Bloomin’ Brands in a report on Thursday, March 31st. They set a buy rating for the company. Barclays lifted their target price on Bloomin’ Brands from $26.00 to $29.00 in a report on Tuesday, February 22nd. Deutsche Bank Aktiengesellschaft restated a buy rating and set a $30.00 price target on shares of Bloomin’ Brands in a research note on Friday, April 29th. Finally, Raymond James raised their price objective on Bloomin’ Brands from $28.00 to $30.00 and gave the stock a strong-buy rating in a report on Tuesday, February 22nd. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $28.82.

Shares of NASDAQ:BLMN opened at $22.94 on Wednesday. The company has a market cap of $2.06 billion, a P/E ratio of 10.92 and a beta of 1.79. The business has a fifty day simple moving average of $21.68 and a 200-day simple moving average of $21.15. Bloomin’ Brands has a 52 week low of $17.29 and a 52 week high of $31.08. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 3.51.

Bloomin’ Brands (NASDAQ:BLMNGet Rating) last issued its quarterly earnings results on Friday, April 29th. The restaurant operator reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. Bloomin’ Brands had a return on equity of 151.95% and a net margin of 5.20%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company earned $0.72 EPS. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. Sell-side analysts expect that Bloomin’ Brands will post 2.5 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 25th. Investors of record on Wednesday, May 11th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, May 10th. This represents a $0.56 annualized dividend and a dividend yield of 2.44%. Bloomin’ Brands’s payout ratio is currently 26.67%.

In other Bloomin’ Brands news, Director Elizabeth A. Smith sold 191,131 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.85% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. boosted its position in Bloomin’ Brands by 421.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 782 shares of the restaurant operator’s stock valued at $26,000 after buying an additional 632 shares during the last quarter. CWM LLC lifted its stake in shares of Bloomin’ Brands by 149.3% in the first quarter. CWM LLC now owns 1,244 shares of the restaurant operator’s stock worth $27,000 after acquiring an additional 745 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Bloomin’ Brands in the fourth quarter valued at about $48,000. Patriot Financial Group Insurance Agency LLC grew its stake in Bloomin’ Brands by 32.5% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 2,550 shares of the restaurant operator’s stock valued at $64,000 after purchasing an additional 625 shares in the last quarter. Finally, JFS Wealth Advisors LLC acquired a new stake in Bloomin’ Brands during the 3rd quarter valued at approximately $74,000.

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.

Further Reading

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Analyst Recommendations for Bloomin' Brands (NASDAQ:BLMN)

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