Todays Report: The Bloomin’ Brands Inc. (BLMN) Upgraded at Zacks Investment Research

The Bloomin’ Brands Inc. (BLMN) Upgraded at Zacks Investment Research

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. “

A number of other research analysts have also weighed in on the stock. TheStreet lowered shares of Bloomin’ Brands from a buy rating to a hold rating in a research note on Friday, June 17th. BMO Capital Markets reaffirmed an outperform rating and issued a $22.00 price target on shares of Bloomin’ Brands in a research note on Tuesday, August 2nd. Finally, Raymond James Financial Inc. reissued an outperform rating and issued a $21.00 price objective on shares of Bloomin’ Brands in a research report on Friday, July 15th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $20.92.

Shares of Bloomin’ Brands (NASDAQ:BLMN) opened at 17.00 on Tuesday. The company has a market capitalization of $1.93 billion, a P/E ratio of 35.12 and a beta of 0.84. Bloomin’ Brands has a one year low of $14.91 and a one year high of $19.89. The firm has a 50-day moving average of $18.17 and a 200-day moving average of $18.38.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.30 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.30. Bloomin’ Brands had a net margin of 1.38% and a return on equity of 38.79%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. Equities research analysts expect that Bloomin’ Brands will post $1.34 EPS for the current fiscal year.

In other Bloomin’ Brands news, Director Chris Thomas Sullivan sold 79,150 shares of the company’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $19.05, for a total value of $1,507,807.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael Kappitt sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $19.50, for a total transaction of $195,000.00. The disclosure for this sale can be found here. 6.68% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Cantab Capital Partners LLP increased its position in Bloomin’ Brands by 3.1% in the second quarter. Cantab Capital Partners LLP now owns 21,556 shares of the company’s stock valued at $385,000 after buying an additional 643 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Bloomin’ Brands by 15.8% in the second quarter. Public Employees Retirement System of Ohio now owns 7,091 shares of the company’s stock valued at $127,000 after buying an additional 968 shares in the last quarter. Menta Capital LLC increased its position in Bloomin’ Brands by 1.5% in the first quarter. Menta Capital LLC now owns 67,150 shares of the company’s stock valued at $1,133,000 after buying an additional 1,000 shares in the last quarter. Guggenheim Capital LLC increased its position in Bloomin’ Brands by 6.5% in the second quarter. Guggenheim Capital LLC now owns 23,406 shares of the company’s stock valued at $418,000 after buying an additional 1,429 shares in the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. increased its position in Bloomin’ Brands by 13.6% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 16,660 shares of the company’s stock valued at $298,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 93.55% of the company’s stock.

Bloomin’ Brands Company Profile

Bloomin’ Brands, Inc (Bloomin’ Brands) is a holding company engaged in operating casual dining restaurants. The Company has a portfolio of four restaurant concepts: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar. The Company owns and operates approximately 1,340 restaurants and franchises over 170 restaurants across approximately 50 states, Puerto Rico, Guam and approximately 20 countries.

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