Bloomin’ Brands (NASDAQ:BLMN) Shares Down 5.6% – Time to Sell?

Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) were down 5.6% on Tuesday. The company traded as low as $10.38 and last traded at $10.2850. Approximately 294,076 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 2,507,457 shares. The stock had previously closed at $10.90.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BLMN shares. Wall Street Zen upgraded Bloomin’ Brands from a “hold” rating to a “buy” rating in a research note on Saturday, October 24th. BMO Capital Markets restated a “market perform” rating and set a $12.00 price objective on shares of Bloomin’ Brands in a research report on Thursday, August 6th. UBS Group lifted their target price on Bloomin’ Brands from $9.00 to $11.50 and gave the company a “neutral” rating in a research report on Monday. Veritas Investment Research set a $13.00 target price on Bloomin’ Brands in a research report on Tuesday, September 29th. Finally, Morgan Stanley increased their target price on shares of Bloomin’ Brands from $8.00 to $12.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th. Eleven analysts have rated the stock with a Hold rating. Based on data from MarketBeat, Bloomin’ Brands currently has an average rating of “Hold” and an average target price of $11.10.

Bloomin’ Brands Stock Down 4.6%

The company has a market capitalization of $896.44 million, a price-to-earnings ratio of 33.77, a P/E/G ratio of 2.68 and a beta of 1.30. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.25 and a quick ratio of 0.18. The firm’s fifty day moving average price is $9.21 and its 200-day moving average price is $7.96.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings data on Wednesday, August 5th. The restaurant operator reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. Bloomin’ Brands had a return on equity of 28.95% and a net margin of 0.70%. Bloomin’ Brands’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. Sell-side analysts expect that Bloomin’ Brands, Inc. will post 0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bloomin’ Brands

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Bloomin’ Brands during the second quarter worth $62,563,000. Arrowstreet Capital Limited Partnership increased its holdings in Bloomin’ Brands by 79.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,908,998 shares of the restaurant operator’s stock valued at $21,109,000 after purchasing an additional 1,736,001 shares during the period. Miller Value Partners LLC acquired a new stake in Bloomin’ Brands in the second quarter valued at $23,635,000. Dimensional Fund Advisors LP increased its holdings in Bloomin’ Brands by 84.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,208,122 shares of the restaurant operator’s stock valued at $11,924,000 after purchasing an additional 1,013,953 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in Bloomin’ Brands by 1.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 1,460,903 shares of the restaurant operator’s stock worth $11,322,000 after purchasing an additional 19,136 shares during the last quarter.

About Bloomin’ Brands

Bloomin’ Brands, Inc is a restaurant company that owns, operates and franchises a portfolio of casual dining and upscale restaurant concepts. Its principal brands include Outback Steakhouse, known for steaks and other Australian-inspired dishes; Carrabba’s Italian Grill, which serves Italian-American cuisine; Bonefish Grill, focused on seafood and contemporary dishes; and Fleming’s Prime Steakhouse & Wine Bar.

The company’s restaurants offer a range of dine-in, takeout, delivery and catering services, with menus generally centered on full-service meals, specialty beverages and hospitality-oriented dining experiences.