BMO Capital Maintains Bloomin Brands (BLMN) Market Perform Recommendation

Fintel reports that on August 2, 2023, BMO Capital maintained coverage of Bloomin Brands (NASDAQ:BLMN) with a Market Perform recommendation.

Analyst Price Forecast Suggests 13.88% Upside

As of August 2, 2023, the average one-year price target for Bloomin Brands is 30.60. The forecasts range from a low of 27.27 to a high of $36.75. The average price target represents an increase of 13.88% from its latest reported closing price of 26.87.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Bloomin Brands is 4,775MM, an increase of 4.99%. The projected annual non-GAAP EPS is 2.81.

What is the Fund Sentiment?

There are 684 funds or institutions reporting positions in Bloomin Brands. This is an increase of 9 owner(s) or 1.33% in the last quarter. Average portfolio weight of all funds dedicated to BLMN is 0.22%, an increase of 11.02%. Total shares owned by institutions increased in the last three months by 4.19% to 114,251K shares. The put/call ratio of BLMN is 0.17, indicating a bullish outlook.

What are Other Shareholders Doing?

IJR - iShares Core S&P Small-Cap ETF holds 6,404K shares representing 7.34% ownership of the company. In it's prior filing, the firm reported owning 6,506K shares, representing a decrease of 1.60%. The firm increased its portfolio allocation in BLMN by 21.93% over the last quarter.

Lsv Asset Management holds 3,789K shares representing 4.34% ownership of the company. In it's prior filing, the firm reported owning 3,616K shares, representing an increase of 4.57%. The firm increased its portfolio allocation in BLMN by 35.87% over the last quarter.

Clearbridge Investments holds 3,428K shares representing 3.93% ownership of the company. In it's prior filing, the firm reported owning 3,609K shares, representing a decrease of 5.30%. The firm increased its portfolio allocation in BLMN by 17.13% over the last quarter.

Millennium Management holds 3,285K shares representing 3.76% ownership of the company. In it's prior filing, the firm reported owning 613K shares, representing an increase of 81.35%. The firm increased its portfolio allocation in BLMN by 608.50% over the last quarter.

Jennison Associates holds 2,993K shares representing 3.43% ownership of the company. In it's prior filing, the firm reported owning 2,960K shares, representing an increase of 1.11%. The firm decreased its portfolio allocation in BLMN by 37.57% over the last quarter.

Bloomin Brands Background Information
(This description is provided by the company.)

Bloomin' Brands, Inc. is one of the largest casual dining restaurant companies in the world with a portfolio of leading, differentiated restaurant concepts. The Company has four founder-inspired brands: Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill and Fleming's Prime Steakhouse and Wine Bar. The Company operates more than 1,450 restaurants in 47 states, Puerto Rico, Guam and 20 countries, some of which are franchise locations.

Additional reading:

• Bloomin’ Brands Announces Q2 2023 Financial Results Q2 Diluted EPS of $0.70 and Adjusted Diluted EPS of $0.74 Reaffirms 2023 Guidance for U.S. Comparable Restaurant Sales and EPS
• Description of Common Stock
• Bloomin’ Brands Announces 2023 Q1 Financial Results Q1 Diluted EPS of $0.93 and Adjusted Diluted EPS of $0.98 Q1 Combined U.S. Comparable Restaurant Sales Growth of 5.1% Reaffirms All Fiscal Year 2023 Guidance
• Fifth Amended and Restated Certificate of Incorporation of Bloomin’ Brands, Inc.
• Fourth Amended and Restated Bylaws of Bloomin’ Brands, Inc.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.