Bloomin’ Brands Inc. (BLMN) Stock Price Down 6.3%
Bloomin’ Brands Inc. (NASDAQ:BLMN)’s share price fell 6.3% during mid-day trading on Friday . The stock traded as low as $17.33 and last traded at $17.76, with a volume of 2,472,080 shares changing hands. The stock had previously closed at $18.95.
Several research firms recently issued reports on BLMN. BMO Capital Markets reissued a “buy” rating on shares of Bloomin’ Brands in a research report on Wednesday, April 27th. Credit Suisse Group AG reissued a “buy” rating and issued a $21.00 target price on shares of Bloomin’ Brands in a research report on Thursday, April 21st. Zacks Investment Research raised Bloomin’ Brands from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Wednesday, July 13th. Tigress Financial raised Bloomin’ Brands from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 25th. Finally, Raymond James Financial Inc. reissued an “outperform” rating and issued a $21.00 target price on shares of Bloomin’ Brands in a research report on Friday, July 15th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Bloomin’ Brands presently has a consensus rating of “Buy” and an average price target of $20.82.
The stock has a market cap of $2.12 billion and a price-to-earnings ratio of 21.93. The stock has a 50 day moving average of $18.32 and a 200-day moving average of $17.84.
Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Friday, July 29th. The company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. 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 EPS. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, equities research analysts predict that Bloomin’ Brands Inc. will post $1.36 earnings per share for the current year.
In other Bloomin’ Brands news, EVP Gregg Scarlett sold 8,500 shares of the company’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $18.89, for a total value of $160,565.00. Following the completion of the transaction, the executive vice president now owns 30,393 shares in the company, valued at $574,123.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Chris Thomas Sullivan sold 133,000 shares of the company’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $19.48, for a total transaction of $2,590,840.00. The disclosure for this sale can be found here.
A number of institutional investors recently added to or reduced their stakes in BLMN. New York State Common Retirement Fund increased its position in Bloomin’ Brands by 387.9% in the fourth quarter. New York State Common Retirement Fund now owns 870,766 shares of the company’s stock valued at $14,707,000 after buying an additional 692,307 shares in the last quarter. Marshall Wace LLP bought a new position in Bloomin’ Brands during the fourth quarter valued at about $5,621,000. Wells Fargo & Company MN increased its position in Bloomin’ Brands by 83.9% in the fourth quarter. Wells Fargo & Company MN now owns 711,237 shares of the company’s stock valued at $12,012,000 after buying an additional 324,409 shares in the last quarter. Airain ltd bought a new position in Bloomin’ Brands during the fourth quarter valued at about $1,509,000. Finally, Flippin Bruce & Porter Inc. bought a new position in Bloomin’ Brands during the fourth quarter valued at about $1,353,000.
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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