Raymond James Downgrades Bloomin’ Brands (NASDAQ:BLMN) to Market Perform

Bloomin’ Brands (NASDAQ:BLMN) was downgraded by investment analysts at Raymond James from an “outperform” rating to a “market perform” rating in a report released on Monday, MarketBeat.com reports.

A number of other research analysts have also recently commented on the stock. UBS Group reduced their price target on shares of Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. BMO Capital Markets lowered their price target on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. StockNews.com raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Barclays dropped their target price on Bloomin’ Brands from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.70.

Bloomin’ Brands Stock Down 2.9 %

BLMN stock opened at $13.35 on Monday. Bloomin’ Brands has a 1-year low of $13.23 and a 1-year high of $30.13. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -121.35 and a beta of 2.04. 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 company’s 50 day moving average is $16.35 and its 200 day moving average is $18.67.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. Bloomin’ Brands had a net margin of 0.70% and a return on equity of 61.90%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. Sell-side analysts predict that Bloomin’ Brands will post 1.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Bloomin’ Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in BLMN. Gladius Capital Management LP bought a new stake in Bloomin’ Brands in the third quarter valued at $26,000. Headlands Technologies LLC bought a new position in Bloomin’ Brands in the 1st quarter worth $30,000. KBC Group NV lifted its position in shares of Bloomin’ Brands by 79.1% in the 3rd quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock worth $56,000 after purchasing an additional 1,489 shares during the period. EntryPoint Capital LLC boosted its stake in shares of Bloomin’ Brands by 6,454.9% during the 1st quarter. EntryPoint Capital LLC now owns 3,343 shares of the restaurant operator’s stock valued at $96,000 after purchasing an additional 3,292 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Bloomin’ Brands during the second quarter valued at about $111,000.

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.