Bank of America cut shares of Bloomin’ Brands (NASDAQ:BLMN – Free Report) from a neutral rating to an underperform rating in a research report report published on Monday, MarketBeat.com reports. Bank of America currently has $13.00 price target on the restaurant operator’s stock, down from their previous price target of $18.00.
Other equities research analysts also recently issued reports about the company. Barclays reaffirmed an “equal weight” rating and set a $13.00 price target (down from $19.00) on shares of Bloomin’ Brands in a research report on Tuesday, January 7th. Raymond James downgraded Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. The Goldman Sachs Group assumed coverage on Bloomin’ Brands in a research report on Thursday, December 5th. They set a “sell” rating and a $13.00 target price on the stock. UBS Group dropped their target price on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. dropped their target price on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.30.
Read Our Latest Stock Report on Bloomin’ Brands
Bloomin’ Brands Stock Performance
Bloomin’ Brands (NASDAQ:BLMN – Get Free Report) last issued its earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. As a group, research analysts expect that Bloomin’ Brands will post 1.8 earnings per share for the current year.
Institutional Trading of Bloomin’ Brands
Several institutional investors have recently added to or reduced their stakes in BLMN. Envestnet Asset Management Inc. grew its stake in shares of Bloomin’ Brands by 6.6% in the second quarter. Envestnet Asset Management Inc. now owns 92,733 shares of the restaurant operator’s stock worth $1,783,000 after acquiring an additional 5,752 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Bloomin’ Brands by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,553,719 shares of the restaurant operator’s stock worth $49,105,000 after acquiring an additional 16,878 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Bloomin’ Brands by 8.7% in the second quarter. Hsbc Holdings PLC now owns 13,567 shares of the restaurant operator’s stock worth $258,000 after acquiring an additional 1,083 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Bloomin’ Brands by 24.2% in the second quarter. AQR Capital Management LLC now owns 304,872 shares of the restaurant operator’s stock worth $5,863,000 after acquiring an additional 59,353 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in shares of Bloomin’ Brands in the second quarter worth $230,000.
About Bloomin’ Brands
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; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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