Bloomin' Brands (NASDAQ:BLMN) Stock Rating Lowered by Bank of America

Bank of America cut shares of Bloomin' Brands (NASDAQ:BLMN - Free Report) from a neutral rating to an underperform rating in a research note published on Monday morning, Marketbeat Ratings reports. The brokerage currently has $13.00 price objective on the restaurant operator's stock, down from their prior price objective of $18.00.

Several other research firms also recently issued reports on BLMN. Barclays restated an "equal weight" rating and issued a $13.00 price objective (down previously from $19.00) on shares of Bloomin' Brands in a research note on Tuesday, January 7th. UBS Group decreased their target price on Bloomin' Brands from $16.00 to $13.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. decreased their target price on Bloomin' Brands from $19.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, November 12th. Piper Sandler decreased their price objective on Bloomin' Brands from $20.00 to $16.00 and set a "neutral" rating for the company in a report on Monday, November 11th. Finally, StockNews.com downgraded Bloomin' Brands from a "hold" rating to a "sell" rating in a report on Friday. Three investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $16.30.

Bloomin' Brands Stock Up 2.2 %

Shares of NASDAQ:BLMN traded up $0.27 on Monday, hitting $12.60. 1,900,260 shares of the company's stock were exchanged, compared to its average volume of 1,765,722. The firm's 50-day moving average is $12.42 and its 200 day moving average is $15.37. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31. The company has a market capitalization of $1.07 billion, a PE ratio of -114.54 and a beta of 1.97. Bloomin' Brands has a 1-year low of $11.03 and a 1-year high of $30.13.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.02. Bloomin' Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the company posted $0.44 earnings per share. The firm's quarterly revenue was down 5.1% compared to the same quarter last year. Sell-side analysts predict that Bloomin' Brands will post 1.8 EPS for the current year.

Institutional Investors Weigh In On Bloomin' Brands

A number of hedge funds have recently added to or reduced their stakes in BLMN. Dimensional Fund Advisors LP lifted its position in shares of Bloomin' Brands by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,553,719 shares of the restaurant operator's stock valued at $49,105,000 after acquiring an additional 16,878 shares during the period. Principal Financial Group Inc. raised its holdings in Bloomin' Brands by 6.2% during the third quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator's stock worth $41,806,000 after purchasing an additional 147,895 shares during the last quarter. Erste Asset Management GmbH acquired a new position in Bloomin' Brands during the third quarter worth $41,325,000. Jennison Associates LLC raised its holdings in Bloomin' Brands by 4.4% during the third quarter. Jennison Associates LLC now owns 1,411,200 shares of the restaurant operator's stock worth $23,327,000 after purchasing an additional 59,418 shares during the last quarter. Finally, FMR LLC raised its holdings in Bloomin' Brands by 34.8% during the third quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator's stock worth $22,830,000 after purchasing an additional 356,456 shares during the last quarter.

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