According to Zacks, “Bloomin’ Brands, Inc. is a casual dining restaurant company with a portfolio of differentiated restaurant concepts. It has five concepts: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse and Wine Bar and Roy’s. The Company offers its products and services through company owned and franchised locations throughout the United States and internationally. Bloomin’ Brands, Inc. is based in Tampa, Florida. “
A number of other research firms also recently weighed in on BLMN. Tigress Financial restated a buy rating on shares of Bloomin’ Brands in a report on Thursday, April 18th. BMO Capital Markets restated a hold rating on shares of Royal Bank of Canada in a report on Thursday, May 23rd. Deutsche Bank set a $142.00 price target on shares of MCCORMICK & CO /SH and gave the company a hold rating in a report on Friday, June 28th. ValuEngine downgraded shares of Intersect ENT from a buy rating to a hold rating in a report on Monday. Finally, JPMorgan Chase & Co. restated an overweight rating on shares of in a report on Friday, June 28th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Bloomin’ Brands has a consensus rating of Hold and an average target price of $21.73.
Bloomin’ Brands (NASDAQ:BLMN) last released its earnings results on Friday, April 26th. The restaurant operator reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. Bloomin’ Brands had a net margin of 2.56% and a return on equity of 124.00%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. As a group, analysts expect that Bloomin’ Brands will post 1.59 EPS for the current fiscal year.
In other Bloomin’ Brands news, insider Elizabeth A. Smith sold 116,318 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $19.99, for a total value of $2,325,196.82. Following the sale, the insider now directly owns 411,733 shares in the company, valued at approximately $8,230,542.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Elizabeth A. Smith sold 65,486 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $20.00, for a total transaction of $1,309,720.00. Following the completion of the sale, the chairman now owns 411,733 shares in the company, valued at $8,234,660. The disclosure for this sale can be found here. Company insiders own 4.39% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of BLMN. Norges Bank acquired a new stake in Bloomin’ Brands in the 4th quarter worth $32,422,000. Copeland Capital Management LLC acquired a new stake in Bloomin’ Brands in the 1st quarter worth $12,877,000. Jacobs Levy Equity Management Inc. grew its position in Bloomin’ Brands by 196.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 592,025 shares of the restaurant operator’s stock worth $12,107,000 after purchasing an additional 392,427 shares during the last quarter. Spark Investment Management LLC grew its position in Bloomin’ Brands by 79.1% in the 1st quarter. Spark Investment Management LLC now owns 822,200 shares of the restaurant operator’s stock worth $16,813,000 after purchasing an additional 363,000 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in Bloomin’ Brands by 17.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,166,913 shares of the restaurant operator’s stock worth $38,766,000 after purchasing an additional 326,731 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.
About Bloomin’ Brands
Bloomin' Brands, Inc, through its subsidiaries, owns and operates casual, upscale casual, and fine dining restaurants in the United States and internationally. The company operates through two segments, U.S. and International. Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba's Italian Grill, a casual Italian restaurant; Bonefish Grill, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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