Bloomin’ Brands (NASDAQ:BLMN) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Bloomin’ Brands (NASDAQ:BLMN) from a hold rating to a buy rating in a research note published on Thursday morning, BidAskClub reports.

A number of other equities analysts have also recently weighed in on BLMN. Zacks Investment Research cut shares of Bloomin’ Brands from a hold rating to a sell rating in a research report on Tuesday, October 1st. BMO Capital Markets upgraded shares of Bloomin’ Brands from an underperform rating to a market perform rating and upped their price objective for the stock from $17.00 to $19.00 in a research report on Thursday, September 5th. Deutsche Bank assumed coverage on shares of Bloomin’ Brands in a research report on Friday, June 28th. They set a buy rating and a $24.00 price objective for the company. TheStreet cut shares of Bloomin’ Brands from a b- rating to a c+ rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Bloomin’ Brands from $23.00 to $22.00 and set an overweight rating for the company in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $21.80.

NASDAQ:BLMN traded down $0.84 during trading hours on Thursday, reaching $18.15. 917,618 shares of the company were exchanged, compared to its average volume of 1,591,974. The company has a current ratio of 0.30, a quick ratio of 0.21 and a debt-to-equity ratio of 15.18. The stock’s 50-day moving average is $18.65 and its 200-day moving average is $18.74. The firm has a market cap of $1.62 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.23 and a beta of 0.31. Bloomin’ Brands has a twelve month low of $15.12 and a twelve month high of $22.22.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Bloomin’ Brands had a net margin of 2.62% and a return on equity of 105.54%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 earnings per share. As a group, research analysts anticipate that Bloomin’ Brands will post 1.58 EPS for the current year.

Hedge funds have recently made changes to their positions in the business. UBS Asset Management Americas Inc. lifted its position in shares of Bloomin’ Brands by 1.4% during the second quarter. UBS Asset Management Americas Inc. now owns 93,020 shares of the restaurant operator’s stock worth $1,759,000 after purchasing an additional 1,312 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Bloomin’ Brands by 7.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 21,300 shares of the restaurant operator’s stock worth $401,000 after purchasing an additional 1,488 shares in the last quarter. Advisor Group Inc. lifted its position in shares of Bloomin’ Brands by 35.7% during the second quarter. Advisor Group Inc. now owns 7,144 shares of the restaurant operator’s stock worth $135,000 after purchasing an additional 1,881 shares in the last quarter. Factorial Partners LLC lifted its position in shares of Bloomin’ Brands by 6.3% during the second quarter. Factorial Partners LLC now owns 42,300 shares of the restaurant operator’s stock worth $800,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Cerebellum GP LLC lifted its position in shares of Bloomin’ Brands by 18.3% during the first quarter. Cerebellum GP LLC now owns 17,011 shares of the restaurant operator’s stock worth $348,000 after purchasing an additional 2,635 shares in the last quarter. 94.15% of the stock is owned by institutional investors.

Bloomin’ Brands Company Profile

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.

Further Reading: What is a Leveraged Buyout (LBO)?

Analyst Recommendations for Bloomin` Brands (NASDAQ:BLMN)

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