Bloomin' Brands (NASDAQ:BLMN) Price Target Cut to $6.50 by Analysts at The Goldman Sachs Group

Key Points

• Analysts at The Goldman Sachs Group have lowered their price target for Bloomin' Brands from $8.00 to $6.50, maintaining a "sell" rating, indicating a potential downside of 1.59% from its current trading price.
• Other analysts have mixed views, with JPMorgan Chase raising its target to $10.00 while BMO Capital Markets and Barclays reduced theirs, highlighting a lack of consensus on the company's future performance.
• Bloomin' Brands experienced a slight increase in its stock price on Thursday, reaching $6.61, despite recent concerns over its financial performance, with a reported quarterly revenue down 1.8% compared to last year.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) had its price target reduced by stock analysts at The Goldman Sachs Group from $8.00 to $6.50 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "sell" rating on the restaurant operator's stock. The Goldman Sachs Group's price target suggests a potential downside of 1.59% from the stock's current price.

Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Bloomin' Brands from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. BMO Capital Markets dropped their price target on Bloomin' Brands from $10.00 to $8.00 and set a "market perform" rating for the company in a research note on Thursday. Barclays reduced their price objective on Bloomin' Brands from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Morgan Stanley upped their price objective on Bloomin' Brands from $9.00 to $10.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Finally, UBS Group cut their price target on shares of Bloomin' Brands from $13.00 to $8.50 and set a "neutral" rating on the stock in a report on Monday, May 5th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $11.80.

Bloomin' Brands Trading Up 6.4%

Shares of NASDAQ BLMN traded up $0.40 during midday trading on Thursday, reaching $6.61. 3,703,785 shares of the stock were exchanged, compared to its average volume of 2,610,592. The company has a market capitalization of $560.96 million, a price-to-earnings ratio of -218.76 and a beta of 1.32. The business has a 50-day simple moving average of $9.04 and a two-hundred day simple moving average of $9.12. Bloomin' Brands has a 12 month low of $6.09 and a 12 month high of $18.72. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.41 and a quick ratio of 0.33.

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

Institutional Trading of Bloomin' Brands

Several institutional investors and hedge funds have recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC increased its position in shares of Bloomin' Brands by 8,666.6% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,568,253 shares of the restaurant operator's stock valued at $19,148,000 after purchasing an additional 1,550,364 shares during the last quarter. Millennium Management LLC boosted its holdings in Bloomin' Brands by 123.1% in the first quarter. Millennium Management LLC now owns 2,299,778 shares of the restaurant operator's stock valued at $16,489,000 after acquiring an additional 1,268,988 shares in the last quarter. Nuveen LLC purchased a new position in shares of Bloomin' Brands during the first quarter valued at about $7,890,000. Marshall Wace LLP raised its position in shares of Bloomin' Brands by 483.0% in the 4th quarter. Marshall Wace LLP now owns 1,225,608 shares of the restaurant operator's stock worth $14,965,000 after acquiring an additional 1,015,372 shares in the last quarter. Finally, Fund 1 Investments LLC bought a new stake in shares of Bloomin' Brands during the 4th quarter valued at $7,839,000.

About Bloomin' Brands

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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