Raymond James Financial, Inc. Analysts Give Bloomin’ Brands, Inc. (NASDAQ:BLMN) a $24.00 Price Target
Raymond James Financial, Inc. set a $24.00 price target on Bloomin’ Brands, Inc. (NASDAQ:BLMN) in a report released on Thursday. The brokerage currently has a buy rating on the restaurant operator’s stock.
Other analysts have also issued reports about the stock. BidaskClub lowered shares of Bloomin’ Brands from a strong-buy rating to a buy rating in a research report on Thursday, June 22nd. 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 report on Friday, April 28th. Wells Fargo & Company lowered shares of Bloomin’ Brands from an outperform rating to a market perform rating and set a $22.00 target price for the company. in a research report on Friday, May 19th. ValuEngine lowered shares of Bloomin’ Brands from a buy rating to a hold rating in a research report on Friday, June 2nd. Finally, TheStreet upgraded shares of Bloomin’ Brands from a c rating to a b rating in a research report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $21.00.
Bloomin’ Brands (NASDAQ BLMN) traded down 0.540% on Thursday, reaching $17.485. 1,769,476 shares of the company traded hands. The stock’s 50-day moving average is $20.82 and its 200-day moving average is $19.47. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 19.385 and a beta of 0.76. Bloomin’ Brands has a 1-year low of $15.82 and a 1-year high of $22.16.
Bloomin’ Brands (NASDAQ:BLMN) last announced its earnings results on Wednesday, July 26th. The restaurant operator reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. Bloomin’ Brands had a net margin of 2.29% and a return on equity of 64.68%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 earnings per share. Equities research analysts expect that Bloomin’ Brands will post $1.42 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be given a $0.08 dividend. The ex-dividend date is Monday, August 7th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.84%. Bloomin’ Brands’s payout ratio is currently 35.56%.
Bloomin’ Brands declared that its board has authorized a share buyback program on Wednesday, April 26th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the restaurant operator to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In other Bloomin’ Brands 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 value of $573,084.82. Following the completion of the transaction, the executive vice president now directly owns 15,759 shares in the company, valued at $341,497.53. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 completion of the transaction, the chairman now owns 206,235 shares of the company’s stock, valued at $4,497,985.35. The disclosure for this sale can be found here. Corporate insiders own 7.04% of the company’s stock.
Several institutional investors have recently bought and sold shares of BLMN. Ameritas Investment Partners Inc. purchased a new position in Bloomin’ Brands during the first quarter worth $173,000. Public Employees Retirement System of Ohio raised its position in shares of 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 in the last quarter. Integrated Investment Consultants LLC raised its position in shares of 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 in the last quarter. New York State Teachers Retirement System raised its position in shares of 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 in the last quarter. Finally, Parametrica Management Ltd bought a new position in shares of Bloomin’ Brands during the second quarter worth $201,000. Institutional investors and hedge funds own 98.24% of the company’s stock.
Bloomin’ Brands Company Profile
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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