Bank of America Initiates Coverage on Bloomin’ Brands (NASDAQ:BLMN)

Investment analysts at Bank of America began coverage on shares of Bloomin’ Brands (NASDAQ:BLMNGet Rating) in a report issued on Wednesday, The Fly reports. The brokerage set a “neutral” rating and a $27.00 price target on the restaurant operator’s stock. Bank of America‘s price target points to a potential upside of 15.38% from the company’s previous close.

Several other research analysts have also commented on the company. StockNews.com started coverage on Bloomin’ Brands in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Citigroup boosted their target price on shares of Bloomin’ Brands from $20.00 to $25.00 in a report on Monday, October 31st. TheStreet upgraded shares of Bloomin’ Brands from a “c” rating to a “b-” rating in a report on Friday, October 28th. Raymond James boosted their price objective on shares of Bloomin’ Brands from $27.50 to $30.00 and gave the stock a “strong-buy” rating in a research note on Tuesday. Finally, Gordon Haskett lowered shares of Bloomin’ Brands from a “buy” rating to a “hold” rating in a report on Tuesday, January 17th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $27.30.

Bloomin’ Brands Trading Down 3.1 %

NASDAQ BLMN opened at $23.40 on Wednesday. Bloomin’ Brands has a one year low of $15.89 and a one year high of $25.51. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.21 and a current ratio of 0.30. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 24.89 and a beta of 1.82. The company’s 50-day simple moving average is $21.96 and its two-hundred day simple moving average is $21.14.

Bloomin’ Brands (NASDAQ:BLMNGet Rating) last issued its quarterly earnings data on Friday, October 28th. The restaurant operator reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Bloomin’ Brands had a net margin of 2.39% and a return on equity of 92.10%. Bloomin’ Brands’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $0.57 earnings per share. Equities analysts forecast that Bloomin’ Brands will post 2.46 EPS for the current fiscal year.

Insider Activity at Bloomin’ Brands

In other Bloomin’ Brands news, CEO David J. Deno sold 60,354 shares of Bloomin’ Brands stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $24.39, for a total transaction of $1,472,034.06. Following the completion of the sale, the chief executive officer now owns 372,222 shares of the company’s stock, valued at approximately $9,078,494.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Elizabeth A. Smith sold 203,032 shares of the stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $22.93, for a total value of $4,655,523.76. Following the transaction, the director now owns 243,594 shares in the company, valued at approximately $5,585,610.42. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO David J. Deno sold 60,354 shares of Bloomin’ Brands stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $24.39, for a total transaction of $1,472,034.06. Following the sale, the chief executive officer now owns 372,222 shares of the company’s stock, valued at $9,078,494.58. The disclosure for this sale can be found here. Insiders have sold a total of 724,508 shares of company stock valued at $17,083,646 in the last ninety days. Company insiders own 4.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in Bloomin’ Brands by 13.0% in the first quarter. BlackRock Inc. now owns 15,152,121 shares of the restaurant operator’s stock valued at $332,436,000 after purchasing an additional 1,747,152 shares during the last quarter. Vanguard Group Inc. grew its holdings in Bloomin’ Brands by 3.1% during the third quarter. Vanguard Group Inc. now owns 9,842,684 shares of the restaurant operator’s stock worth $180,417,000 after acquiring an additional 291,981 shares during the period. Clearbridge Investments LLC grew its holdings in Bloomin’ Brands by 5.7% during the second quarter. Clearbridge Investments LLC now owns 5,949,443 shares of the restaurant operator’s stock worth $98,880,000 after acquiring an additional 323,248 shares during the period. State Street Corp raised its position in Bloomin’ Brands by 4.4% during the third quarter. State Street Corp now owns 3,228,458 shares of the restaurant operator’s stock valued at $59,178,000 after acquiring an additional 136,714 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Bloomin’ Brands by 16.0% in the third quarter. Jennison Associates LLC now owns 2,927,286 shares of the restaurant operator’s stock valued at $53,657,000 after acquiring an additional 404,708 shares during the period.

About Bloomin’ Brands

(Get Rating)

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; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.

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Analyst Recommendations for Bloomin' Brands (NASDAQ:BLMN)

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