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

Key Points

• Bloomin' Brands shares opened higher, rising from a prior close of $8.55 to $8.79 before later trading at $8.4860.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with a $9.75 target price, while several firms recently raised targets to $12 and Zacks upgraded the stock to “Strong Buy.”
• The company exceeded quarterly expectations, reporting $0.39 EPS versus $0.29 expected and $1.02 billion in revenue; major investors including BlackRock and Miller Value Partners also established new positions.

Shares of Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $8.55, but opened at $8.79. Bloomin' Brands shares last traded at $8.4860, with a volume of 58,878 shares changing hands.

Analysts Set New Price Targets

BLMN has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $11.00 target price on shares of Bloomin' Brands in a research report on Thursday, August 6th. Zacks Research upgraded shares of Bloomin' Brands from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. Piper Sandler upped their target price on shares of Bloomin' Brands from $9.00 to $12.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. Morgan Stanley lifted their price target on shares of Bloomin' Brands from $8.00 to $12.00 and gave the company an "equal weight" rating in a research report on Thursday, August 6th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $12.00 price target on shares of Bloomin' Brands in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Bloomin' Brands presently has a consensus rating of "Hold" and a consensus target price of $9.75.

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 capitalization of $706.79 million, a price-to-earnings ratio of 26.73, a P/E/G ratio of 2.20 and a beta of 1.23. The firm has a 50-day simple moving average of $9.58 and a two-hundred day simple moving average of $7.98.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The restaurant operator reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1 billion. Bloomin' Brands had a net margin of 0.70% and a return on equity of 28.95%. The business's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. 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, sell-side analysts anticipate that Bloomin' Brands, Inc. will post 0.98 EPS for the current fiscal year.

Institutional Trading of Bloomin' Brands

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

Bloomin' Brands Company Profile

Bloomin' Brands, Inc is a restaurant company that owns, operates and franchises a portfolio of casual dining and upscale-casual restaurant concepts. Its brands include Outback Steakhouse, known for steaks and other Australian-inspired menu offerings; Carrabba's Italian Grill, which specializes in Italian-American cuisine; Bonefish Grill, focused on seafood and grilled dishes; and Fleming's Prime Steakhouse & Wine Bar, which offers prime steaks, seafood and wine. The company also operates additional concepts, including Aussie Grill and Tender Shack.

Bloomin' Brands serves customers primarily in the United States, with restaurants and franchise operations in select international markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.