JPMorgan Chase & Co. Increases Bloomin' Brands (NASDAQ:BLMN) Price Target to $10.00

Bloomin' Brands (NASDAQ:BLMN - Free Report) had its price objective upped by JPMorgan Chase & Co. from $9.00 to $10.00 in a research note released on Wednesday,Benzinga reports. The firm currently has a neutral rating on the restaurant operator's stock.

Several other research firms have also recently weighed in on BLMN. Wall Street Zen upgraded Bloomin' Brands from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. BMO Capital Markets lowered their price objective on Bloomin' Brands from $16.00 to $12.00 and set a "market perform" rating on the stock in a research report on Thursday, February 27th. Barclays lowered their price objective on Bloomin' Brands from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. The Goldman Sachs Group reduced their target price on Bloomin' Brands from $13.00 to $10.00 and set a "sell" rating on the stock in a report on Thursday, February 27th. Finally, UBS Group reduced their target price on Bloomin' Brands from $13.00 to $8.50 and set a "neutral" rating on the stock in a report on Monday, May 5th. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $13.85.

Bloomin' Brands Stock Performance

BLMN traded down $0.15 during trading hours on Wednesday, reaching $8.66. The company's stock had a trading volume of 3,056,256 shares, compared to its average volume of 2,156,569. Bloomin' Brands has a 52 week low of $6.09 and a 52 week high of $21.45. The company's 50-day moving average is $8.23 and its 200-day moving average is $9.58. 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 has a market cap of $735.49 million, a PE ratio of -288.57 and a beta of 1.29.

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 for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. Bloomin' Brands had a positive return on equity of 55.08% and a negative net margin of 0.05%. The business had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter in the prior year, the business earned $0.70 EPS. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. On average, equities analysts forecast that Bloomin' Brands will post 1.8 EPS for the current year.

Bloomin' Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Tuesday, May 20th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 6.93%. The ex-dividend date was Tuesday, May 20th. Bloomin' Brands's dividend payout ratio (DPR) is presently -2,000.00%.

Institutional Trading of Bloomin' Brands

Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in Bloomin' Brands by 28.9% in the 1st quarter. GAMMA Investing LLC now owns 6,304 shares of the restaurant operator's stock valued at $45,000 after purchasing an additional 1,414 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Bloomin' Brands during the fourth quarter worth $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Bloomin' Brands by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,395 shares of the restaurant operator's stock worth $333,000 after buying an additional 2,622 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Bloomin' Brands in the 4th quarter valued at $32,000. Finally, Rhumbline Advisers boosted its holdings in shares of Bloomin' Brands by 1.3% during the 4th quarter. Rhumbline Advisers now owns 238,093 shares of the restaurant operator's stock valued at $2,907,000 after acquiring an additional 2,977 shares in 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.