BMO Capital Markets Has Lowered Expectations for Bloomin' Brands (NASDAQ:BLMN) Stock Price

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 price target cut by BMO Capital Markets from $10.00 to $8.00 in a research report released on Thursday morning,Benzinga reports. They currently have a market perform rating on the restaurant operator's stock.

Several other analysts also recently issued reports on the stock. UBS Group decreased their price objective 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. Morgan Stanley boosted their price target on shares of Bloomin' Brands from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Barclays reduced their price target 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, August 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Bloomin' Brands from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Wednesday, June 25th. Two research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $11.00.

Bloomin' Brands Stock Down 1.1%

Shares of NASDAQ:BLMN traded down $0.08 during midday trading on Thursday, hitting $6.56. 1,701,054 shares of the company's stock traded hands, compared to its average volume of 2,633,153. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.35 and a current ratio of 0.43. The company has a market cap of $557.63 million, a PE ratio of -131.28 and a beta of 1.32. The firm's fifty day moving average price is $9.00 and its two-hundred day moving average price is $9.01. Bloomin' Brands has a twelve month low of $6.09 and a twelve month high of $18.72.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The restaurant operator reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $974.69 million. Bloomin' Brands had a negative net margin of 0.12% and a positive return on equity of 44.03%. The company's revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 EPS. On average, equities research analysts anticipate that Bloomin' Brands will post 1.8 EPS for the current fiscal year.

Bloomin' Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $0.60 dividend on an annualized basis and a yield of 9.2%. Bloomin' Brands's dividend payout ratio is -1,200.00%.

Hedge Funds Weigh In On Bloomin' Brands

Several institutional investors and hedge funds have recently modified their holdings of the stock. Kingsview Wealth Management LLC purchased a new position in Bloomin' Brands in the second quarter worth about $794,000. Intech Investment Management LLC increased its position in shares of 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 during the last quarter. Creative Planning grew its position in 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 last quarter. Geode Capital Management LLC grew its position in shares of Bloomin' Brands by 5.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,937,737 shares of the restaurant operator's stock worth $16,685,000 after buying an additional 94,260 shares in the last quarter. Finally, Corton Capital Inc. grew 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 worth $239,000 after buying an additional 16,283 shares in the last quarter.

Bloomin' Brands Company Profile

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.