Bloomin’ Brands Inc. (BLMN) Shares Up 0.8%
Bloomin’ Brands Inc. (NASDAQ:BLMN) shares shot up 0.8% during mid-day trading on Wednesday . The company traded as high as $19.73 and last traded at $19.48, with a volume of 540,727 shares. The stock had previously closed at $19.32.
A number of brokerages recently issued reports on BLMN. Zacks Investment Research upgraded shares of Bloomin’ Brands from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Wednesday, July 13th. Raymond James Financial Inc. reiterated an “outperform” rating and issued a $21.00 price target on shares of Bloomin’ Brands in a research note on Friday, July 15th. BMO Capital Markets reiterated an “outperform” rating and issued a $22.00 price target on shares of Bloomin’ Brands in a research note on Tuesday, August 2nd. TheStreet downgraded shares of Bloomin’ Brands from a “buy” rating to a “hold” rating in a research note on Friday, June 17th. Finally, Tigress Financial upgraded shares of Bloomin’ Brands from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $20.92.
The firm has a market cap of $2.25 billion and a price-to-earnings ratio of 40.93. The company’s 50-day moving average price is $18.82 and its 200 day moving average price is $18.19.
Bloomin’ Brands (NASDAQ:BLMN) last posted its earnings results on Friday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The company earned $1.07 billion during the quarter, compared to the consensus estimate of $1.09 billion. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. Equities analysts predict that Bloomin’ Brands Inc. will post $1.34 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Wednesday, August 10th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Monday, August 8th.
In other Bloomin’ Brands news, EVP Michael Kappitt sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $19.50, for a total value of $195,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Chris Thomas Sullivan sold 133,000 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $19.02, for a total value of $2,529,660.00. The disclosure for this sale can be found here.
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.