Bloomin' Brands (NASDAQ:BLMN) Shares Down 22.3% - What's Next?

Key Points

• Bloomin' Brands shares dropped 22.3% on Wednesday, trading as low as $6.84, with a significant decline in trading volume compared to the average.
• Analysts have provided mixed ratings for the stock, with price targets ranging from $8.50 to $10.00 and an average consensus price target of $12.75.
• The company reported a quarterly earnings per share of $0.59, exceeding estimates, but experienced a year-over-year revenue decline of 1.8%.

Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report) was down 22.3% on Wednesday . The company traded as low as $6.84 and last traded at $6.95. Approximately 1,119,893 shares were traded during trading, a decline of 56% from the average daily volume of 2,532,320 shares. The stock had previously closed at $8.95.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BLMN shares. JPMorgan Chase & Co. lifted their price objective on Bloomin' Brands from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Wednesday, June 25th. UBS Group decreased their price objective on Bloomin' Brands from $13.00 to $8.50 and set a "neutral" rating on the stock in a report on Monday, May 5th. Barclays lifted their price objective on Bloomin' Brands from $8.00 to $9.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Finally, Morgan Stanley lifted their price objective on Bloomin' Brands from $9.00 to $10.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Two research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $12.75.

Bloomin' Brands Stock Down 28.8%

The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.33 and a current ratio of 0.41. The firm's 50-day moving average is $9.06 and its two-hundred day moving average is $9.14. The stock has a market cap of $541.43 million, a P/E ratio of -212.10 and a beta of 1.32.

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

Institutional Trading of Bloomin' Brands

Several institutional investors and hedge funds have recently made changes to their positions in the business. Corton Capital Inc. raised its position in shares of Bloomin' Brands by 141.2% during the 2nd quarter. Corton Capital Inc. now owns 27,814 shares of the restaurant operator's stock valued at $239,000 after acquiring an additional 16,283 shares during the last quarter. Bank of Montreal Can boosted its stake in Bloomin' Brands by 21.0% in the 2nd quarter. Bank of Montreal Can now owns 14,583 shares of the restaurant operator's stock worth $126,000 after purchasing an additional 2,526 shares during the period. Nisa Investment Advisors LLC boosted its stake in Bloomin' Brands by 6,111.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 41,620 shares of the restaurant operator's stock worth $358,000 after purchasing an additional 40,950 shares during the period. CWM LLC boosted its stake in Bloomin' Brands by 127.1% in the 2nd quarter. CWM LLC now owns 24,079 shares of the restaurant operator's stock worth $207,000 after purchasing an additional 13,477 shares during the period. Finally, Carolina Wealth Advisors LLC boosted its stake in Bloomin' Brands by 1.3% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 538,470 shares of the restaurant operator's stock worth $4,636,000 after purchasing an additional 6,824 shares during the period.

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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