Bloomin' Brands (NASDAQ:BLMN) Shares Climb 5.3% - Here's What Happened

Key Points

• Bloomin’ Brands shares rose 5.3% to approximately $9.24 in mid-day trading, although volume was 47% below the average session level.
• Analyst sentiment remains cautious: the stock carries a consensus “Hold” rating and an average price target of $10.60, despite targets ranging from $11 to $13 and recent downgrades.
• The company exceeded quarterly expectations, reporting $0.39 in EPS versus $0.29 expected and $1.02 billion in revenue, up 1.3% year over year; major institutional investors also recently increased or initiated positions.

Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report) shares traded up 5.3% during mid-day trading on Tuesday. The company traded as high as $9.19 and last traded at $9.2350. Approximately 1,307,156 shares were traded during trading, a decline of 47% from the average session volume of 2,483,918 shares. The stock had previously closed at $8.77.

Analysts Set New Price Targets

A number of equities analysts recently commented on BLMN shares. Weiss Ratings downgraded Bloomin' Brands from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, August 19th. Piper Sandler boosted their target price on shares of Bloomin' Brands from $9.00 to $12.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $11.00 price target on shares of Bloomin' Brands in a research note on Thursday, August 6th. Wall Street Zen downgraded shares of Bloomin' Brands from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Veritas Investment Research set a $13.00 price objective on shares of Bloomin' Brands in a research note on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $10.60.

Bloomin' Brands Stock Performance

The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.18 and a current ratio of 0.25. The company has a market cap of $785.57 million, a P/E ratio of 29.64, a P/E/G ratio of 2.25 and a beta of 1.26. The firm has a 50 day moving average price of $9.51 and a 200-day moving average price of $8.21.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The restaurant operator reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. Bloomin' Brands had a return on equity of 28.95% and a net margin of 0.70%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the business earned $0.32 EPS. The firm's revenue was up 1.3% compared to the same quarter last year. Bloomin' Brands has set its FY 2026 guidance at 0.900-1.000 EPS and its Q3 2026 guidance at -0.270--0.220 EPS. On average, research analysts predict that Bloomin' Brands, Inc. will post 0.96 EPS for the current year.

Hedge Funds Weigh In On Bloomin' Brands

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in Bloomin' Brands in the 2nd quarter worth $62,563,000. Miller Value Partners LLC bought a new stake in Bloomin' Brands during the second quarter valued at about $23,635,000. Arrowstreet Capital Limited Partnership boosted its holdings in Bloomin' Brands by 79.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,908,998 shares of the restaurant operator's stock valued at $21,109,000 after acquiring an additional 1,736,001 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Bloomin' Brands by 84.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,208,122 shares of the restaurant operator's stock valued at $11,924,000 after purchasing an additional 1,013,953 shares during the last quarter. Finally, Prosperitas Financial LLC acquired a new stake in shares of Bloomin' Brands in the second quarter valued at about $6,289,000.

About Bloomin' Brands

Bloomin' Brands, Inc is a restaurant company that owns and operates a portfolio of casual dining and upscale casual dining brands. Its best-known concept is Outback Steakhouse, which specializes in steaks, seafood, chicken, burgers and other American-style dishes with an Australian-inspired theme.

The company's other restaurant brands include Carrabba's Italian Grill, which serves Italian-American cuisine; Bonefish Grill, focused on seafood and wood-grilled specialties; and Fleming's Prime Steakhouse & Wine Bar, an upscale steakhouse concept.

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