Barclays Has Lowered Expectations for Bloomin’ Brands (NASDAQ:BLMN) Stock Price

Bloomin’ Brands (NASDAQ:BLMN) had its price target dropped by Barclays from $9.00 to $7.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the restaurant operator’s stock. Barclays‘s price objective indicates a potential upside of 3.70% from the company’s current price.

Several other equities research analysts also recently commented on the company. JPMorgan Chase & Co. raised their target price on Bloomin’ Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Wednesday, June 25th. UBS Group lowered their price objective on shares of Bloomin’ Brands from $13.00 to $8.50 and set a “neutral” rating for the company in a research report on Monday, May 5th. Finally, Morgan Stanley boosted their target price on shares of Bloomin’ Brands from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. Two equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat, Bloomin’ Brands has an average rating of “Hold” and an average price target of $11.00.

Bloomin’ Brands Price Performance

Bloomin’ Brands stock opened at $6.75 on Wednesday. The stock has a market capitalization of $573.28 million, a P/E ratio of -135.00 and a beta of 1.32. Bloomin’ Brands has a 12-month low of $6.09 and a 12-month high of $18.72. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.41 and a quick ratio of 0.33. The firm’s 50-day moving average is $9.02 and its two-hundred day moving average is $9.09.

Bloomin’ Brands (NASDAQ:BLMN) last released its earnings results on Wednesday, August 6th. The restaurant operator reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. Bloomin’ Brands had a positive return on equity of 50.26% and a negative net margin of 0.12%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $974.69 million. During the same period in the prior year, the business posted $0.51 earnings per share. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. Equities analysts predict that Bloomin’ Brands will post 1.8 earnings per share for the current year.

Institutional Investors Weigh In On Bloomin’ Brands

Several hedge funds have recently bought and sold shares of BLMN. Norges Bank purchased a new stake in shares of Bloomin’ Brands during the 4th quarter worth about $849,000. Franklin Resources Inc. raised its holdings in shares of Bloomin’ Brands by 809.9% during the 4th quarter. Franklin Resources Inc. now owns 455,010 shares of the restaurant operator’s stock valued at $5,556,000 after purchasing an additional 405,003 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Bloomin’ Brands during the 4th quarter worth about $27,000. Invesco Ltd. raised its stake in shares of Bloomin’ Brands by 5.2% in the 4th quarter. Invesco Ltd. now owns 934,222 shares of the restaurant operator’s stock valued at $11,407,000 after acquiring an additional 45,793 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Bloomin’ Brands in the 4th quarter worth approximately $2,882,000.

About Bloomin’ Brands

Bloomin’ Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.