Bloomin’ Brands Inc. (BLMN) Trading Down 6.3%
Bloomin’ Brands Inc. (NASDAQ:BLMN)’s share price fell 6.3% during trading on Friday . The company traded as low as $17.33 and last traded at $17.76, with a volume of 2,472,080 shares. The stock had previously closed at $18.95.
A number of equities analysts have recently issued reports on the company. TheStreet raised Bloomin’ Brands from a “hold” rating to a “buy” rating in a research report on Wednesday, May 4th. Credit Suisse Group AG raised Bloomin’ Brands from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $17.00 to $21.00 in a research report on Monday, April 11th. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a “buy” rating on shares of Bloomin’ Brands in a research report on Wednesday, April 27th. Tigress Financial raised Bloomin’ Brands from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 25th. Finally, Zacks Investment Research downgraded Bloomin’ Brands from a “buy” rating to a “hold” rating in a research report on Thursday, July 14th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Bloomin’ Brands has an average rating of “Buy” and an average target price of $20.82.
The company’s 50 day moving average is $18.37 and its 200-day moving average is $17.82. The firm has a market cap of $2.12 billion and a P/E ratio of 21.93.
Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings data on Friday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. During the same period in the previous year, the company earned $0.28 EPS. The business earned $1.07 billion during the quarter, compared to analyst estimates of $1.09 billion. Bloomin’ Brands’s revenue was down 1.9% on a year-over-year basis. On average, equities research analysts anticipate that Bloomin’ Brands Inc. will post $1.37 EPS for the current year.
In other news, Director Chris Thomas Sullivan sold 133,000 shares of the stock in a transaction on Monday, June 6th. The shares were sold at an average price of $19.48, for a total value of $2,590,840.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregg Scarlett sold 8,500 shares of the stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $18.89, for a total transaction of $160,565.00. Following the completion of the sale, the executive vice president now directly owns 30,393 shares of the company’s stock, valued at approximately $574,123.77. The disclosure for this sale can be found here.
Other large investors have added to or reduced their stakes in the company. Flippin Bruce & Porter Inc. acquired a new stake in Bloomin’ Brands during the fourth quarter valued at about $1,353,000. Airain ltd purchased a new position in shares of Bloomin’ Brands during the fourth quarter valued at $1,509,000. Rhumbline Advisers increased its position in shares of Bloomin’ Brands by 8.4% in the fourth quarter. Rhumbline Advisers now owns 117,725 shares of the company’s stock valued at $1,988,000 after buying an additional 9,110 shares during the period. Trexquant Investment LP increased its position in shares of Bloomin’ Brands by 25.2% in the fourth quarter. Trexquant Investment LP now owns 129,473 shares of the company’s stock valued at $2,187,000 after buying an additional 26,073 shares during the period. Finally, Russell Frank Co increased its position in shares of Bloomin’ Brands by 2.3% in the fourth quarter. Russell Frank Co now owns 177,631 shares of the company’s stock valued at $3,019,000 after buying an additional 4,055 shares during the period.
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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