Zacks Investment Research upgraded shares of Bloomin’ Brands (NASDAQ:BLMN) from a hold rating to a buy rating in a report released on Tuesday morning. Zacks Investment Research currently has $22.00 target price on the restaurant operator’s stock.
According to Zacks, “Bloomin’ Brands, Inc. is a casual dining restaurant company with a portfolio of differentiated restaurant concepts. It has five concepts: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse and Wine Bar and Roy’s. The Company offers its products and services through company owned and franchised locations throughout the United States and internationally. Bloomin’ Brands, Inc. is based in Tampa, Florida. “
Several other equities analysts also recently weighed in on the stock. Bank of America downgraded shares of Bloomin’ Brands from a neutral rating to an underperform rating and set a $17.00 target price for the company. in a report on Friday, February 8th. BidaskClub downgraded shares of Bloomin’ Brands from a buy rating to a hold rating in a report on Saturday, January 19th. William Blair upgraded shares of Bloomin’ Brands from a market perform rating to an outperform rating in a report on Friday, February 15th. Barclays dropped their target price on shares of Bloomin’ Brands from $27.00 to $25.00 and set an overweight rating for the company in a report on Thursday, November 29th. Finally, JPMorgan Chase & Co. upgraded shares of Bloomin’ Brands from a neutral rating to an overweight rating and set a $23.00 target price for the company in a report on Tuesday, January 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. Bloomin’ Brands presently has a consensus rating of Hold and an average price target of $21.67.
Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Thursday, February 14th. The restaurant operator reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04. Bloomin’ Brands had a net margin of 2.60% and a return on equity of 178.97%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter last year, the business earned $0.18 earnings per share. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, research analysts anticipate that Bloomin’ Brands will post 1.56 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Monday, February 25th were issued a dividend of $0.10 per share. This is an increase from Bloomin’ Brands’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.94%. The ex-dividend date was Friday, February 22nd. Bloomin’ Brands’s dividend payout ratio (DPR) is 26.67%.
A number of large investors have recently bought and sold shares of the business. Advisor Group Inc. grew 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 buying an additional 1,353 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of Bloomin’ Brands during the fourth quarter worth about $60,000. Meeder Asset Management Inc. grew its holdings in shares of Bloomin’ Brands by 211.1% during the fourth quarter. Meeder Asset Management Inc. now owns 8,677 shares of the restaurant operator’s stock worth $156,000 after buying an additional 5,888 shares in the last quarter. Jefferies Group LLC purchased a new stake in shares of Bloomin’ Brands during the third quarter worth about $199,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Bloomin’ Brands during the fourth quarter worth about $206,000. Hedge funds and other institutional investors own 92.63% of the company’s stock.
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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