Bloomin’ Brands Inc (NASDAQ:BLMN) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Bloomin’ Brands Inc (NASDAQ:BLMN) have earned an average recommendation of “Hold” from the seventeen ratings firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $21.40.
A number of brokerages have weighed in on BLMN. JPMorgan Chase & Co. lowered their price target on Bloomin’ Brands from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, June 28th. BMO Capital Markets downgraded Bloomin’ Brands from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $23.00 to $18.00 in a research report on Thursday, May 23rd. ValuEngine downgraded Bloomin’ Brands from a “hold” rating to a “sell” rating in a research report on Monday, July 8th. BidaskClub raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Loop Capital began coverage on Bloomin’ Brands in a research report on Monday, July 22nd. They set a “buy” rating and a $22.00 price target on the stock.
Large investors have recently modified their holdings of the company. LS Investment Advisors LLC bought a new stake in shares of Bloomin’ Brands during the second quarter worth approximately $56,000. Advisor Group Inc. boosted its holdings in shares of Bloomin’ Brands by 72.0% during the fourth quarter. Advisor Group Inc. now owns 3,233 shares of the restaurant operator’s stock worth $57,000 after acquiring an additional 1,353 shares during the period. New York State Teachers Retirement System bought a new stake in shares of Bloomin’ Brands during the first quarter worth approximately $70,000. Pearl River Capital LLC boosted its holdings in shares of Bloomin’ Brands by 1,085.2% during the first quarter. Pearl River Capital LLC now owns 6,578 shares of the restaurant operator’s stock worth $134,000 after acquiring an additional 6,023 shares during the period. Finally, Flinton Capital Management LLC bought a new stake in shares of Bloomin’ Brands during the second quarter worth approximately $135,000. Institutional investors own 94.52% of the company’s stock.
Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.04 billion. Bloomin’ Brands had a return on equity of 105.54% and a net margin of 2.62%. The business’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 earnings per share. On average, analysts forecast that Bloomin’ Brands will post 1.58 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Monday, August 12th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Friday, August 9th. Bloomin’ Brands’s dividend payout ratio is presently 26.67%.
About Bloomin’ Brands
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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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