Bloomin’ Brands (NASDAQ:BLMN) Downgraded to “Hold” at Zacks Investment Research

Bloomin’ Brands (NASDAQ:BLMNGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

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. “

Other equities analysts also recently issued reports about the company. Raymond James boosted their price objective on Bloomin’ Brands from $28.00 to $30.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, February 22nd. Citigroup initiated coverage on Bloomin’ Brands in a research report on Tuesday, April 12th. They set a “neutral” rating and a $24.00 price objective for the company. William Blair reissued an “outperform” rating on shares of Bloomin’ Brands in a research report on Friday, February 18th. Morgan Stanley lowered their price objective on Bloomin’ Brands from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, April 14th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $36.00 price objective on shares of Bloomin’ Brands in a research report on Wednesday, April 13th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $28.82.

NASDAQ:BLMN traded down $0.79 on Friday, reaching $19.35. 2,236,607 shares of the company’s stock were exchanged, compared to its average volume of 1,841,122. The company has a quick ratio of 0.22, a current ratio of 0.29 and a debt-to-equity ratio of 2.42. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 9.21 and a beta of 1.79. The business has a fifty day moving average of $21.49 and a 200-day moving average of $21.06. Bloomin’ Brands has a 52-week low of $17.29 and a 52-week high of $30.40.

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. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Bloomin’ Brands had a net margin of 5.20% and a return on equity of 131.48%. The business’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 firm earned $0.72 earnings per share. As a group, equities analysts anticipate that Bloomin’ Brands will post 2.5 earnings per share for the current year.

In other 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 transaction of $4,613,902.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.85% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in BLMN. Clearbridge Investments LLC raised its position in Bloomin’ Brands by 171.3% in the first quarter. Clearbridge Investments LLC now owns 5,626,195 shares of the restaurant operator’s stock worth $123,439,000 after acquiring an additional 3,552,591 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of Bloomin’ Brands in the fourth quarter valued at $45,490,000. BlackRock Inc. increased its position in shares of Bloomin’ Brands by 13.0% in the first quarter. BlackRock Inc. now owns 15,152,121 shares of the restaurant operator’s stock valued at $332,436,000 after buying an additional 1,747,152 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of Bloomin’ Brands by 127.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,192,892 shares of the restaurant operator’s stock valued at $46,007,000 after buying an additional 1,226,957 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in shares of Bloomin’ Brands by 120.2% during the fourth quarter. Citigroup Inc. now owns 1,661,771 shares of the restaurant operator’s stock valued at $34,864,000 after acquiring an additional 907,013 shares during the last quarter.

About Bloomin’ Brands (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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