Bloomin’ Brands (NASDAQ:BLMN) Cut to “Underperform” at Bank of America

Bank of America cut shares of Bloomin’ Brands (NASDAQ:BLMN) from a neutral rating to an underperform rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The firm currently has $13.00 price objective on the restaurant operator’s stock, down from their previous price objective of $18.00.

Several other analysts also recently weighed in on the stock. Barclays reaffirmed an “equal weight” rating and issued a $13.00 target price (down previously from $19.00) on shares of Bloomin’ Brands in a report on Tuesday, January 7th. StockNews.com lowered Bloomin’ Brands from a “hold” rating to a “sell” rating in a report on Friday, January 24th. UBS Group dropped their target price on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Piper Sandler reduced their price target 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, The Goldman Sachs Group initiated coverage on Bloomin’ Brands in a report on Thursday, December 5th. They set a “sell” rating and a $13.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.30.

Bloomin’ Brands Stock Performance

Shares of BLMN stock opened at $12.70 on Monday. Bloomin’ Brands has a 52-week low of $11.03 and a 52-week high of $30.13. The stock’s 50-day moving average price is $12.42 and its 200 day moving average price is $15.28. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46. The stock has a market capitalization of $1.08 billion, a PE ratio of -115.44 and a beta of 1.97.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the business earned $0.44 earnings per share. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that Bloomin’ Brands will post 1.8 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Gladius Capital Management LP acquired a new stake in Bloomin’ Brands in the 3rd quarter valued at about $26,000. KBC Group NV lifted its holdings in shares of Bloomin’ Brands by 79.1% in the third quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock valued at $56,000 after purchasing an additional 1,489 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Bloomin’ Brands by 606.6% in the fourth quarter. GAMMA Investing LLC now owns 4,890 shares of the restaurant operator’s stock valued at $60,000 after purchasing an additional 4,198 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Bloomin’ Brands in the second quarter valued at approximately $111,000. Finally, Entropy Technologies LP purchased a new position in shares of Bloomin’ Brands during the 4th quarter worth approximately $140,000.

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