Bloomin’ Brands (NASDAQ:BLMN) Downgraded to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Bloomin’ Brands (NASDAQ:BLMN) from an overweight rating to a neutral rating in a report issued on Thursday, Briefing.com Automated Import reports. They currently have $25.00 target price on the restaurant operator’s stock, up from their previous target price of $21.00. The analysts noted that the move was a valuation call.

A number of other equities analysts have also weighed in on the company. Barclays decreased their target price on Bloomin’ Brands from $24.00 to $22.00 and set an overweight rating for the company in a research report on Friday, October 18th. Deutsche Bank lowered Bloomin’ Brands from a buy rating to a hold rating and decreased their target price for the stock from $23.00 to $21.00 in a research report on Monday, October 14th. TheStreet lowered Bloomin’ Brands from a b- rating to a c+ rating in a research report on Monday, August 5th. MKM Partners set a $20.00 target price on Bloomin’ Brands and gave the stock a buy rating in a research report on Tuesday, September 3rd. Finally, BidaskClub raised Bloomin’ Brands from a hold rating to a buy rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. Bloomin’ Brands currently has an average rating of Hold and a consensus price target of $21.80.

Shares of BLMN traded down $0.18 during trading hours on Thursday, hitting $23.02. The company had a trading volume of 820,825 shares, compared to its average volume of 1,550,330. The firm has a fifty day moving average price of $19.36 and a 200-day moving average price of $18.71. The company has a debt-to-equity ratio of 15.18, a quick ratio of 0.21 and a current ratio of 0.30. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 1.40 and a beta of 0.31. Bloomin’ Brands has a 52-week low of $15.12 and a 52-week high of $23.53.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings results on Wednesday, November 6th. The restaurant operator reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. Bloomin’ Brands had a return on equity of 105.54% and a net margin of 2.62%. The firm had revenue of $967.14 million during the quarter, compared to analyst estimates of $967.04 million. During the same quarter in the previous year, the firm earned $0.08 EPS. Bloomin’ Brands’s quarterly revenue was up .2% compared to the same quarter last year. Research analysts anticipate that Bloomin’ Brands will post 1.56 earnings per share for the current fiscal year.

The firm also recently declared a dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Bloomin’ Brands’s previous dividend of $0.06. Bloomin’ Brands’s dividend payout ratio is presently 26.67%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Copeland Capital Management LLC increased its position in shares of Bloomin’ Brands by 5.3% during the 3rd quarter. Copeland Capital Management LLC now owns 1,543,479 shares of the restaurant operator’s stock valued at $29,219,000 after purchasing an additional 77,204 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Bloomin’ Brands by 71.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,660 shares of the restaurant operator’s stock valued at $31,000 after purchasing an additional 694 shares during the last quarter. Tibra Equities Europe Ltd purchased a new stake in shares of Bloomin’ Brands during the 3rd quarter valued at about $292,000. First Mercantile Trust Co. purchased a new stake in shares of Bloomin’ Brands during the 3rd quarter valued at about $143,000. Finally, Russell Investments Group Ltd. increased its position in shares of Bloomin’ Brands by 62.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,114,835 shares of the restaurant operator’s stock valued at $21,101,000 after purchasing an additional 426,687 shares during the last quarter. 94.18% of the stock is owned by hedge funds and other institutional investors.

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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.

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Analyst Recommendations for Bloomin` Brands (NASDAQ:BLMN)

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