Bloomin’ Brands (NASDAQ:BLMN) Given New $30.00 Price Target at Barclays

Bloomin’ Brands (NASDAQ:BLMN) had its price objective dropped by Barclays from $32.00 to $30.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the restaurant operator’s stock. Barclays‘s target price suggests a potential upside of 30.49% from the company’s previous close.

A number of other research firms have also recently commented on BLMN. JPMorgan Chase & Co. cut shares of Bloomin’ Brands from an “overweight” rating to a “neutral” rating and set a $26.00 price objective for the company. in a research report on Tuesday, January 23rd. Citigroup upped their price objective on shares of Bloomin’ Brands from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. UBS Group lowered their price objective on shares of Bloomin’ Brands from $30.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, BMO Capital Markets lowered their price objective on shares of Bloomin’ Brands from $29.00 to $27.00 and set a “market perform” rating for the company in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bloomin’ Brands has a consensus rating of “Hold” and an average target price of $27.50.

Bloomin’ Brands Stock Performance

BLMN stock opened at $22.99 on Wednesday. The business’s fifty day moving average is $27.38 and its 200-day moving average is $26.15. The company has a quick ratio of 0.27, a current ratio of 0.34 and a debt-to-equity ratio of 1.89. The company has a market cap of $2.00 billion, a P/E ratio of 9.09, a price-to-earnings-growth ratio of 9.85 and a beta of 2.02. Bloomin’ Brands has a twelve month low of $22.03 and a twelve month high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings results on Tuesday, May 7th. The restaurant operator reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.05). Bloomin’ Brands had a net margin of 5.30% and a return on equity of 73.67%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company earned $0.98 EPS. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. Equities research analysts forecast that Bloomin’ Brands will post 2.55 EPS for the current year.

Hedge Funds Weigh In On Bloomin’ Brands

Several hedge funds have recently modified their holdings of the stock. First Eagle Investment Management LLC lifted its stake in Bloomin’ Brands by 1.8% in the 1st quarter. First Eagle Investment Management LLC now owns 166,419 shares of the restaurant operator’s stock valued at $4,773,000 after purchasing an additional 3,000 shares during the last quarter. Foundry Partners LLC lifted its stake in Bloomin’ Brands by 22.0% in the 1st quarter. Foundry Partners LLC now owns 244,218 shares of the restaurant operator’s stock valued at $7,004,000 after purchasing an additional 43,962 shares during the last quarter. Entropy Technologies LP acquired a new stake in Bloomin’ Brands in the 1st quarter valued at about $466,000. ProShare Advisors LLC lifted its stake in Bloomin’ Brands by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 17,657 shares of the restaurant operator’s stock valued at $506,000 after purchasing an additional 1,216 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Bloomin’ Brands by 3.7% in the 1st quarter. Russell Investments Group Ltd. now owns 267,338 shares of the restaurant operator’s stock valued at $7,667,000 after purchasing an additional 9,658 shares during 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.