BMO Capital Markets Lowers Bloomin' Brands (NASDAQ:BLMN) Price Target to $8.00

Key Points

• BMO Capital Markets has reduced its target price for Bloomin' Brands (BLMN) from $10.00 to $8.00, maintaining a "market perform" rating while indicating a potential upside of 20.74% from the current price.
• The stock has experienced a significant decline in expectations, with other analysts such as Barclays and UBS Group also lowering their price targets to $7.00 and $8.50, respectively.
• Bloomin' Brands reported $1.05 billion in revenue for its latest quarter, down 1.8% from the previous year, and beat earnings estimates with an EPS of $0.59.

Bloomin' Brands (NASDAQ:BLMN - Free Report) had its target price reduced by BMO Capital Markets from $10.00 to $8.00 in a research report released on Thursday,Benzinga reports. They currently have a market perform rating on the restaurant operator's stock.

Several other research firms have also commented on BLMN. JPMorgan Chase & Co. boosted their price target 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 target price on shares of Bloomin' Brands from $9.00 to $7.00 and set an "equal weight" rating for the company in a report on Wednesday. UBS Group reduced their target price on shares of Bloomin' Brands from $13.00 to $8.50 and set a "neutral" rating for the company in a report on Monday, May 5th. Finally, Morgan Stanley boosted their target price on shares of Bloomin' Brands from $9.00 to $10.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Two analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $11.00.

Bloomin' Brands Stock Down 1.8%

Shares of NASDAQ:BLMN traded down $0.12 during trading hours on Thursday, hitting $6.63. The company's stock had a trading volume of 4,310,346 shares, compared to its average volume of 2,596,395. Bloomin' Brands has a 52 week low of $6.09 and a 52 week 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. The company has a market capitalization of $563.09 million, a price-to-earnings ratio of -132.60 and a beta of 1.32. The firm's fifty day moving average price is $9.00 and its 200 day moving average price is $9.03.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The restaurant operator reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $974.69 million. Bloomin' Brands had a negative net margin of 0.12% and a positive return on equity of 50.26%. The company's quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 EPS. As a group, research analysts expect that Bloomin' Brands will post 1.8 EPS for the current year.

Bloomin' Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, August 19th. This represents a $0.60 annualized dividend and a dividend yield of 9.0%. Bloomin' Brands's dividend payout ratio is -1,200.00%.

Hedge Funds Weigh In On Bloomin' Brands

Several hedge funds have recently modified their holdings of the stock. Kingsview Wealth Management LLC acquired a new position in Bloomin' Brands during the 2nd quarter valued at approximately $794,000. Intech Investment Management LLC increased its stake in Bloomin' Brands by 395.3% during the 2nd quarter. Intech Investment Management LLC now owns 258,356 shares of the restaurant operator's stock valued at $2,224,000 after purchasing an additional 206,192 shares in the last quarter. Creative Planning increased its position in shares of Bloomin' Brands by 29.0% in the 2nd quarter. Creative Planning now owns 46,384 shares of the restaurant operator's stock valued at $399,000 after acquiring an additional 10,421 shares during the period. Geode Capital Management LLC increased its position in shares of Bloomin' Brands by 5.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,937,737 shares of the restaurant operator's stock valued at $16,685,000 after acquiring an additional 94,260 shares during the period. Finally, Corton Capital Inc. increased its position in shares of Bloomin' Brands by 141.2% in 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 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.