Bloomin' Brands (NASDAQ:BLMN) Stock Price Up 7% - Here's Why

Key Points

• Bloomin’ Brands shares rose 7% to about $8.30 in mid-day trading, though volume was 46% below the average session level.
• Recent analyst sentiment improved, with JPMorgan raising its rating to neutral and its price target to $13, while Zacks upgraded the stock to strong buy. Despite these changes, the overall consensus remains “Hold” with a $10.60 price target.
• The company exceeded quarterly expectations, reporting $0.39 EPS versus the $0.29 consensus and $1.02 billion in revenue. Revenue increased 1.3% year over year, and several institutional investors—including Miller Value Partners—opened new positions.

Shares of Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report) traded up 7% during mid-day trading on Thursday. The stock traded as high as $8.29 and last traded at $8.2950. 1,326,735 shares changed hands during trading, a decline of 46% from the average session volume of 2,469,987 shares. The stock had previously closed at $7.75.

Analyst Ratings Changes

A number of research analysts recently issued reports on BLMN shares. Wall Street Zen upgraded Bloomin' Brands from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. JPMorgan Chase & Co. raised shares of Bloomin' Brands from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $6.00 to $13.00 in a research note on Tuesday. Zacks Research raised shares of Bloomin' Brands from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. BMO Capital Markets reiterated a "market perform" rating and issued a $12.00 price target on shares of Bloomin' Brands in a research note on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $11.00 price objective on shares of Bloomin' Brands in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $10.60.

Bloomin' Brands Stock Up 7.0%

The company has a debt-to-equity ratio of 1.62, a current ratio of 0.25 and a quick ratio of 0.18. The firm's 50 day moving average is $9.53 and its two-hundred day moving average is $8.06. The firm has a market capitalization of $710.23 million, a P/E ratio of 26.76, a PEG ratio of 2.13 and a beta of 1.23.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last posted 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 firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. Bloomin' Brands had a net margin of 0.70% and a return on equity of 28.95%. The company's quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $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. Research analysts predict that Bloomin' Brands, Inc. will post 0.95 EPS for the current year.

Institutional Trading of Bloomin' Brands

A number of hedge funds have recently made changes to their positions in the business. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Bloomin' Brands during the 2nd quarter worth about $1,105,000. Ieq Capital LLC bought a new position in Bloomin' Brands in the 2nd quarter valued at about $2,474,000. Landscape Capital Management L.L.C. bought a new position in Bloomin' Brands in the 2nd quarter valued at about $1,198,000. Bank of New York Mellon Corp acquired a new stake in Bloomin' Brands during the second quarter worth approximately $2,652,000. Finally, Miller Value Partners LLC bought a new stake in shares of Bloomin' Brands during the second quarter worth approximately $23,635,000.

About Bloomin' Brands

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.

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