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Barclays Forecasts Strong Price Appreciation for Bloomin' Brands (NASDAQ:BLMN) Stock

Bloomin' Brands logo with Retail/Wholesale background

Bloomin' Brands (NASDAQ:BLMN - Free Report) had its price target boosted by Barclays from $8.00 to $9.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the restaurant operator's stock.

BLMN has been the subject of a number of other reports. Morgan Stanley set a $10.00 price target on Bloomin' Brands and gave the company an "equal weight" rating in a report on Monday. JPMorgan Chase & Co. increased their price target on Bloomin' Brands from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Wednesday, June 25th. Finally, UBS Group decreased their price target on Bloomin' Brands from $13.00 to $8.50 and set a "neutral" rating for the company in a report on Monday, May 5th. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company's stock. According to data from MarketBeat, Bloomin' Brands has an average rating of "Hold" and an average price target of $12.75.

Get Our Latest Research Report on BLMN

Bloomin' Brands Trading Down 1.4%

NASDAQ BLMN traded down $0.13 during trading hours on Thursday, reaching $9.23. The company had a trading volume of 2,183,736 shares, compared to its average volume of 2,175,575. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $783.91 million, a P/E ratio of -307.56 and a beta of 1.32. The stock has a 50-day moving average of $8.70 and a 200 day moving average of $9.37. Bloomin' Brands has a 1-year low of $6.09 and a 1-year high of $21.45.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last released its earnings results on Wednesday, May 7th. The restaurant operator reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. Bloomin' Brands had a negative net margin of 0.05% and a positive return on equity of 55.08%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm earned $0.70 earnings per share. The business's quarterly revenue was down 1.8% compared to the same quarter last year. As a group, research analysts anticipate that Bloomin' Brands will post 1.8 earnings per share for the current fiscal year.

Bloomin' Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 6.50%. The ex-dividend date was Tuesday, May 20th. Bloomin' Brands's dividend payout ratio (DPR) is presently -2,000.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue raised its stake in Bloomin' Brands by 7.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 45,096 shares of the restaurant operator's stock valued at $387,000 after purchasing an additional 3,256 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Bloomin' Brands by 32.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,704 shares of the restaurant operator's stock worth $41,000 after acquiring an additional 1,164 shares during the period. Ballentine Partners LLC purchased a new position in Bloomin' Brands in the 2nd quarter worth approximately $135,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Bloomin' Brands in the 2nd quarter valued at approximately $318,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Bloomin' Brands by 58.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 33,445 shares of the restaurant operator's stock valued at $288,000 after purchasing an additional 12,350 shares in the last quarter.

Bloomin' Brands Company Profile

(Get Free Report)

Bloomin' Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.

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Analyst Recommendations for Bloomin' Brands (NASDAQ:BLMN)

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