Bloomin’ Brands (BLMN) Upgraded to Buy by BidaskClub

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BidaskClub upgraded shares of Bloomin’ Brands (NASDAQ:BLMN) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

BLMN has been the subject of several other research reports. Wells Fargo & Co reduced their target price on shares of Bloomin’ Brands from $22.00 to $21.00 and set a market perform rating for the company in a research note on Tuesday, July 31st. Zacks Investment Research cut shares of Bloomin’ Brands from a hold rating to a sell rating in a research note on Tuesday, July 10th. Bank of America reduced their target price on shares of Bloomin’ Brands from $25.00 to $23.00 and set a neutral rating for the company in a research note on Tuesday, July 31st. BMO Capital Markets cut shares of Bloomin’ Brands from an outperform rating to a market perform rating and reduced their target price for the company from $28.00 to $21.00 in a research note on Monday, September 24th. Finally, ValuEngine cut shares of Bloomin’ Brands from a hold rating to a sell rating in a research note on Thursday, August 2nd. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $23.22.

NASDAQ BLMN opened at $21.51 on Tuesday. The company has a debt-to-equity ratio of 12.18, a current ratio of 0.39 and a quick ratio of 0.32. Bloomin’ Brands has a twelve month low of $16.30 and a twelve month high of $25.00. The stock has a market capitalization of $1.93 billion, a P/E ratio of 15.82, a P/E/G ratio of 1.52 and a beta of 0.24.

Bloomin’ Brands (NASDAQ:BLMN) last released its earnings results on Monday, October 29th. The restaurant operator reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.01. Bloomin’ Brands had a net margin of 2.68% and a return on equity of 182.71%. The business had revenue of $965.00 million during the quarter, compared to analysts’ expectations of $965.17 million. During the same quarter last year, the company earned $0.14 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Bloomin’ Brands will post 1.46 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, November 14th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Tuesday, November 13th. Bloomin’ Brands’s dividend payout ratio (DPR) is presently 26.47%.

In related news, EVP David Peter Schmidt sold 3,500 shares of the stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $19.17, for a total value of $67,095.00. Following the completion of the transaction, the executive vice president now owns 4,828 shares of the company’s stock, valued at $92,552.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mindy F. Grossman sold 8,000 shares of the 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 directly owns 9,790 shares of the company’s stock, valued at approximately $205,198.40. The disclosure for this sale can be found here. Insiders sold 19,081 shares of company stock valued at $386,395 in the last three months. Company insiders own 7.47% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Davidson Kempner Capital Management LP acquired a new position in Bloomin’ Brands in the second quarter worth about $13,065,000. Schwab Charles Investment Management Inc. increased its holdings in shares of Bloomin’ Brands by 40.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,087,086 shares of the restaurant operator’s stock worth $21,851,000 after buying an additional 312,480 shares in the last quarter. Skylands Capital LLC increased its holdings in shares of Bloomin’ Brands by 22.2% during the third quarter. Skylands Capital LLC now owns 202,800 shares of the restaurant operator’s stock worth $4,013,000 after buying an additional 36,900 shares in the last quarter. Chicago Equity Partners LLC increased its holdings in shares of Bloomin’ Brands by 8.4% during the second quarter. Chicago Equity Partners LLC now owns 96,165 shares of the restaurant operator’s stock worth $1,933,000 after buying an additional 7,490 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Bloomin’ Brands by 48.3% during the first quarter. Royal Bank of Canada now owns 8,274 shares of the restaurant operator’s stock worth $201,000 after buying an additional 2,693 shares in the last quarter. 96.75% 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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Analyst Recommendations for Bloomin` Brands (NASDAQ:BLMN)

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