Bloomin’ Brands Inc. (NASDAQ:BLMN) – Equities research analysts at William Blair lowered their Q3 2016 EPS estimates for Bloomin’ Brands in a research report issued to clients and investors on Tuesday. William Blair analyst S. Zackfia now expects that the firm will earn $0.17 per share for the quarter, down from their previous estimate of $0.20. William Blair also issued estimates for Bloomin’ Brands’ Q4 2016 earnings at $0.39 EPS, FY2016 earnings at $1.33 EPS and FY2017 earnings at $1.53 EPS.
Bloomin’ Brands (NASDAQ:BLMN) last released its earnings results on Friday, July 29th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. Bloomin’ Brands had a net margin of 1.38% and a return on equity of 38.79%. The business earned $1.07 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the business earned $0.28 earnings per share. The firm’s revenue was down 1.9% on a year-over-year basis.
BLMN has been the topic of a number of other reports. Zacks Investment Research upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Tuesday, September 27th. BMO Capital Markets restated an “outperform” rating and set a $22.00 price target on shares of Bloomin’ Brands in a report on Tuesday, August 2nd. Finally, Raymond James Financial Inc. restated an “outperform” rating and set a $21.00 price target on shares of Bloomin’ Brands in a report on Friday, July 15th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $20.92.
Bloomin’ Brands (NASDAQ:BLMN) traded up 0.70% during trading on Wednesday, hitting $17.30. 448,368 shares of the company traded hands. The firm has a market capitalization of $1.96 billion, a P/E ratio of 35.74 and a beta of 0.84. Bloomin’ Brands has a 12-month low of $14.91 and a 12-month high of $19.89. The stock has a 50-day moving average price of $17.99 and a 200-day moving average price of $18.41.
In other news, EVP Michael Kappitt sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $19.50, for a total transaction of $195,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Chris Thomas Sullivan sold 79,150 shares of the firm’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $19.05, for a total value of $1,507,807.50. The disclosure for this sale can be found here. 6.68% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC acquired a new stake in shares of Bloomin’ Brands during the second quarter valued at about $42,232,000. Wellington Management Group LLP raised its stake in shares of Bloomin’ Brands by 28.1% in the first quarter. Wellington Management Group LLP now owns 6,440,548 shares of the company’s stock valued at $108,652,000 after buying an additional 1,411,587 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of Bloomin’ Brands during the second quarter valued at about $18,843,000. Rothschild Asset Management Inc. acquired a new stake in shares of Bloomin’ Brands during the second quarter valued at about $13,707,000. Finally, Strs Ohio raised its stake in shares of Bloomin’ Brands by 178.9% in the second quarter. Strs Ohio now owns 1,110,700 shares of the company’s stock valued at $19,848,000 after buying an additional 712,400 shares in the last quarter. 93.56% of the stock is owned by hedge funds and other institutional investors.
About Bloomin’ Brands
Bloomin’ Brands, Inc (Bloomin’ Brands) is a holding company engaged in operating casual dining restaurants. The Company has a portfolio of four restaurant concepts: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar. The Company owns and operates approximately 1,340 restaurants and franchises over 170 restaurants across approximately 50 states, Puerto Rico, Guam and approximately 20 countries.
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