Bloomin’ Brands, Inc. (BLMN) Downgraded by TheStreet
A number of other research analysts have also recently weighed in on BLMN. Deutsche Bank AG boosted their target price on shares of Bloomin’ Brands from $20.00 to $21.00 and gave the company a hold rating in a research note on Friday, April 28th. Morgan Stanley boosted their target price on shares of Bloomin’ Brands from $18.00 to $19.00 and gave the company an underweight rating in a research note on Friday, April 28th. Wells Fargo & Company cut shares of Bloomin’ Brands from an outperform rating to a market perform rating and set a $22.00 target price on the stock. in a research note on Friday, May 19th. ValuEngine cut shares of Bloomin’ Brands from a buy rating to a hold rating in a research note on Friday, June 2nd. Finally, BidaskClub cut shares of Bloomin’ Brands from a strong-buy rating to a buy rating in a research note on Thursday, June 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Bloomin’ Brands currently has an average rating of Hold and an average target price of $21.00.
Shares of Bloomin’ Brands (BLMN) opened at 17.58 on Wednesday. The firm’s 50-day moving average is $20.82 and its 200 day moving average is $19.47. Bloomin’ Brands has a 12 month low of $15.82 and a 12 month high of $22.16. The firm has a market capitalization of $1.74 billion, a P/E ratio of 19.49 and a beta of 0.76.
Bloomin’ Brands (NASDAQ:BLMN) last released its earnings results on Wednesday, July 26th. The restaurant operator reported $0.28 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.28. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Bloomin’ Brands had a net margin of 2.29% and a return on equity of 64.68%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 earnings per share. On average, equities research analysts anticipate that Bloomin’ Brands will post $1.42 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Monday, August 7th. Bloomin’ Brands’s payout ratio is currently 35.56%.
Bloomin’ Brands announced that its board has authorized a share buyback program on Wednesday, April 26th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the restaurant operator to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
In related news, EVP Sukhdev Singh sold 26,446 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $21.67, for a total transaction of $573,084.82. Following the sale, the executive vice president now owns 15,759 shares of the company’s stock, valued at approximately $341,497.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Elizabeth A. Smith sold 275,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $21.81, for a total transaction of $5,997,750.00. Following the sale, the chairman now directly owns 206,235 shares in the company, valued at approximately $4,497,985.35. The disclosure for this sale can be found here. Corporate insiders own 7.04% of the company’s stock.
A number of hedge funds have recently bought and sold shares of BLMN. Ameritas Investment Partners Inc. purchased a new stake in Bloomin’ Brands during the first quarter worth $173,000. Public Employees Retirement System of Ohio raised its stake in Bloomin’ Brands by 8.6% in the first quarter. Public Employees Retirement System of Ohio now owns 8,794 shares of the restaurant operator’s stock worth $174,000 after buying an additional 693 shares during the period. Integrated Investment Consultants LLC raised its stake in Bloomin’ Brands by 20.1% in the first quarter. Integrated Investment Consultants LLC now owns 9,007 shares of the restaurant operator’s stock worth $178,000 after buying an additional 1,507 shares during the period. New York State Teachers Retirement System raised its stake in Bloomin’ Brands by 3.1% in the fourth quarter. New York State Teachers Retirement System now owns 10,100 shares of the restaurant operator’s stock worth $182,000 after buying an additional 300 shares during the period. Finally, Parametrica Management Ltd purchased a new stake in Bloomin’ Brands during the second quarter worth $201,000. 98.48% of the stock is currently owned by institutional investors and hedge funds.
About Bloomin’ Brands
Bloomin’ Brands, Inc is a holding company. The Company owns and operates casual, upscale casual and fine dining restaurants. The Company operates through two segments: U.S. and International. The U.S. segment includes all brands operating in the United States. The International segment includes brands operating outside the United States.
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