Bloomin' Brands (NASDAQ:BLMN) Shares Gap Up - Here's What Happened

Key Points

• Shares briefly gapped up, opening at $10.47 versus the prior close of $10.12, but later traded at $10.09.
• Bloomin’ Brands reported quarterly adjusted EPS of $(0.17), beating the $(0.24) consensus estimate, and revenue of $944.35 million, above estimates and up 1.7% year over year.
• Analyst sentiment remains cautious: MarketBeat reports a consensus “Reduce” rating and a $11.10 target price, with ten analysts rating the stock Hold and one rating it Sell.

Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report)'s stock price gapped up prior to trading on Friday. The stock had previously closed at $10.12, but opened at $10.47. Bloomin' Brands shares last traded at $10.09, with a volume of 261,477 shares traded.

Analyst Ratings Changes

Several brokerages recently commented on BLMN. JPMorgan Chase & Co. upgraded Bloomin' Brands from an "underweight" rating to a "neutral" rating and boosted their price target for the stock from $6.00 to $13.00 in a research report on Tuesday, September 29th. Piper Sandler increased their price objective on Bloomin' Brands from $9.00 to $12.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. UBS Group raised their price objective on Bloomin' Brands from $9.00 to $11.50 and gave the company a "neutral" rating in a report on Monday, November 2nd. Citigroup lowered their target price on shares of Bloomin' Brands from $12.75 to $12.25 and set a "neutral" rating on the stock in a research note on Friday, October 23rd. Finally, Zacks Research lowered shares of Bloomin' Brands from a "strong-buy" rating to a "hold" rating in a report on Friday, October 16th. Ten research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $11.10.

Bloomin' Brands Trading Down 0.3%

The company has a market capitalization of $864.79 million, a PE ratio of 12.30, a PEG ratio of 3.01 and a beta of 1.30. The company has a fifty day simple moving average of $9.20 and a 200-day simple moving average of $8.02. The company has a current ratio of 0.29, a quick ratio of 0.18 and a debt-to-equity ratio of 1.77.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last posted its quarterly earnings results on Friday, November 6th. The restaurant operator reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.07. The business had revenue of $944.35 million for the quarter, compared to analyst estimates of $925.23 million. Bloomin' Brands had a return on equity of 24.54% and a net margin of 1.79%. The company's quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.03) EPS. Bloomin' Brands has set its FY 2026 guidance at 0.970-1.020 EPS and its Q4 2026 guidance at 0.070-0.120 EPS. Analysts predict that Bloomin' Brands, Inc. will post 1.00 EPS for the current year.

Insider Buying and Selling at Bloomin' Brands

In related news, EVP Kelly Lefferts sold 50,000 shares of the firm's stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $10.16, for a total transaction of $508,000.00. Following the completion of the sale, the executive vice president directly owned 80,865 shares of the company's stock, valued at approximately $821,588.40. This trade represents a 38.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick M. Hafner sold 20,000 shares of the stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $10.13, for a total transaction of $202,600.00. Following the transaction, the executive vice president directly owned 17,301 shares of the company's stock, valued at approximately $175,259.13. This trade represents a 53.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.18% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BLMN. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Bloomin' Brands in the 2nd quarter valued at approximately $1,105,000. Ieq Capital LLC acquired a new position in shares of Bloomin' Brands during the 2nd quarter worth about $2,474,000. Prosperitas Financial LLC acquired a new position in Bloomin' Brands in the second quarter valued at approximately $6,289,000. Bank of New York Mellon Corp acquired a new position in shares of Bloomin' Brands in the 2nd quarter valued at $2,652,000. Finally, Miller Value Partners LLC purchased a new position in shares of Bloomin' Brands during the second quarter worth about $23,635,000.

Bloomin' Brands Company Profile

Bloomin' Brands, Inc. is a restaurant company that owns, operates and franchises casual and upscale dining concepts. Its brands include Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill and Fleming's Prime Steakhouse & Wine Bar. The company's restaurants serve a range of offerings, including steaks and other grilled dishes, Italian cuisine, seafood and fine-dining meals. Bloomin' Brands was founded in 1988 and is headquartered in Tampa, Florida. Bloomin' Brands serves customers primarily in the United States, as well as in international markets through company-operated restaurants and franchise arrangements.

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