Bloomin’ Brands (BLMN) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Bloomin’ Brands (NASDAQ:BLMN) from a hold rating to a buy rating in a research note issued to investors on Thursday. They currently have $21.00 price target 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. “

Other research analysts also recently issued research reports about the company. Gordon Haskett initiated coverage on Bloomin’ Brands in a research note on Thursday, October 18th. They issued a buy rating and a $23.00 price target for the company. BidaskClub raised Bloomin’ Brands from a hold rating to a buy rating in a research note on Tuesday, November 6th. TheStreet downgraded Bloomin’ Brands from a b- rating to a c+ rating in a research note on Monday, October 29th. ValuEngine raised Bloomin’ Brands from a sell rating to a hold rating in a research note on Thursday, September 6th. Finally, BMO Capital Markets downgraded Bloomin’ Brands from an outperform rating to a market perform rating and dropped their price target for the company from $28.00 to $21.00 in a research note on Monday, September 24th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $22.60.

BLMN stock opened at $18.30 on Thursday. The stock has a market capitalization of $1.68 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.33 and a beta of 0.22. Bloomin’ Brands has a 52 week low of $17.97 and a 52 week high of $25.00. The company has a debt-to-equity ratio of 18.69, a current ratio of 0.37 and a quick ratio of 0.29.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings results on Monday, October 29th. The restaurant operator reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.01. The business had revenue of $965.00 million during the quarter, compared to the consensus estimate of $965.17 million. Bloomin’ Brands had a return on equity of 196.28% and a net margin of 2.68%. Bloomin’ Brands’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 earnings per share. On average, sell-side analysts predict that Bloomin’ Brands will post 1.46 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 14th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Tuesday, November 13th. Bloomin’ Brands’s payout ratio is 26.47%.

In other Bloomin’ Brands news, Director Mindy F. Grossman sold 8,000 shares of the business’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $20.96, for a total transaction of $167,680.00. Following the completion of the transaction, the director now owns 9,790 shares of the company’s stock, valued at $205,198.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Donagh Herlihy sold 7,581 shares of the business’s stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $20.00, for a total value of $151,620.00. The disclosure for this sale can be found here. 7.47% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Bloomin’ Brands by 3.6% during the third quarter. Vanguard Group Inc. now owns 11,808,062 shares of the restaurant operator’s stock worth $233,681,000 after purchasing an additional 404,855 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of Bloomin’ Brands by 3.6% during the third quarter. Vanguard Group Inc now owns 11,808,062 shares of the restaurant operator’s stock worth $233,681,000 after purchasing an additional 404,855 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Bloomin’ Brands by 8.0% during the second quarter. BlackRock Inc. now owns 7,189,407 shares of the restaurant operator’s stock worth $144,507,000 after purchasing an additional 532,417 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Bloomin’ Brands by 19.0% during the third quarter. Alliancebernstein L.P. now owns 6,104,179 shares of the restaurant operator’s stock worth $120,802,000 after purchasing an additional 973,390 shares during the last quarter. Finally, LSV Asset Management grew its holdings in shares of Bloomin’ Brands by 0.5% during the third quarter. LSV Asset Management now owns 2,936,420 shares of the restaurant operator’s stock worth $58,111,000 after purchasing an additional 15,500 shares during the last quarter. 95.57% of the stock is owned by hedge funds and other institutional investors.

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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