Bloomin' Brands (NASDAQ:BLMN) Given New $6.50 Price Target 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 target price dropped by stock analysts at The Goldman Sachs Group from $8.00 to $6.50 in a research 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 would indicate a potential upside of 0.46% from the stock's current price.

A number of other research analysts have also recently issued reports on the company. Morgan Stanley boosted their target price 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. UBS Group decreased their target price on Bloomin' Brands from $13.00 to $8.50 and set a "neutral" rating for the company in a research note on Monday, May 5th. 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. Barclays reduced their price objective on Bloomin' Brands from $9.00 to $7.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Finally, BMO Capital Markets reduced their price objective on Bloomin' Brands from $10.00 to $8.00 and set a "market perform" rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $11.00.

Bloomin' Brands Trading Down 2.4%

NASDAQ BLMN traded down $0.16 on Thursday, reaching $6.47. The company had a trading volume of 3,873,566 shares, compared to its average volume of 2,702,988. The stock's 50 day moving average is $8.97 and its 200-day moving average is $8.97. The stock has a market cap of $550.40 million, a price-to-earnings ratio of -129.40 and a beta of 1.32. The company has a quick ratio of 0.35, a current ratio of 0.43 and a debt-to-equity ratio of 2.29. Bloomin' Brands has a 52 week low of $6.09 and a 52 week high of $18.72.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. Bloomin' Brands had a positive return on equity of 44.03% and a negative net margin of 0.12%. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $974.69 million. During the same period in the previous year, the firm earned $0.51 earnings per share. The company's revenue was up .3% on a year-over-year basis. Equities analysts predict that Bloomin' Brands will post 1.8 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Kingsview Wealth Management LLC acquired a new position in Bloomin' Brands during the second quarter valued at approximately $794,000. Intech Investment Management LLC lifted its position in shares of Bloomin' Brands by 395.3% in the second quarter. Intech Investment Management LLC now owns 258,356 shares of the restaurant operator's stock valued at $2,224,000 after buying an additional 206,192 shares during the last quarter. Creative Planning lifted its position in shares of Bloomin' Brands by 29.0% in the second quarter. Creative Planning now owns 46,384 shares of the restaurant operator's stock valued at $399,000 after buying an additional 10,421 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Bloomin' Brands by 5.1% in the second quarter. Geode Capital Management LLC now owns 1,937,737 shares of the restaurant operator's stock valued at $16,685,000 after buying an additional 94,260 shares during the last quarter. Finally, Corton Capital Inc. lifted its position in shares of Bloomin' Brands by 141.2% in the second quarter. Corton Capital Inc. now owns 27,814 shares of the restaurant operator's stock valued at $239,000 after buying an additional 16,283 shares during the last quarter.

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.