Bloomin’ Brands Inc. (NASDAQ:BLMN) saw an upside of 0.58% to close Tuesday at $27.68 after adding $0.16 on the day. The 5-day average trading volume is 2,517,640 shares of the company’s common stock. It has gained $28.34 in the past week and touched a new high 4 times within the past 5 days. An average of 2,294,330 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,767,064.
BLMN’s 1-month performance is 0.58% or -$0.12 on its low of $24.43 reached on 08/11/23. The company’s shares have touched a 52-week low of $17.96 and high of $28.67, with the stock’s rally to the 52-week high happening on 07/20/23. YTD, BLMN has achieved 37.57% or $7.56 and has reached a new high 16 times. However, the current price is down -3.45% from the 52-week high price.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
BLMN stock investors last saw insider trading activity on Feb 22.SMITH ELIZABETH A (Director) most recently sold 64,295 shares at $27.89 per share on Feb 22. This transaction cost the insider $1,793,188. Director, GAINOR JOHN P JR, sold 35,000 shares at a price of $27.18 on Feb 21. Then, on Nov 21, Director SMITH ELIZABETH A sold 203,032 shares at a price of $22.93 per share. This transaction amounted to $4,655,019.
Valuation Metrics
BLMN stock has a beta of 1.88. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.49 while the price-to-book (PB) in the most recent quarter is 6.64, with the price to cash flow ratio at 12.71.
Bloomin’ Brands Inc.’s quick ratio for the period ended June 29 was 0.20, with the current ratio over the same period at 0.30. As well, the company’s long term debt to equity for the quarter ending June 29 was 2.09, while the total debt to equity was 2.10.. In terms of profitability, the gross margin trailing 12 months is 69.30%. The trailing 12-month EBITDA margin is 13.55% while for the period ending June 29, Bloomin’ Brands Inc.’s operating margin was 7.60%. The firm’s gross profit as reported stood at $1.81 billion against revenue of $4.42 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 193.2% to $68.28 million, while revenue of $91.31 million was -33.73% off the previous quarter. Analysts expected BLMN to announce $0.64 per share in earnings in its latest quarter, but it posted $0.74, representing a 15.60% surprise. EBITDA for the quarter stood at more than $143.16 million. BLMN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 2.9 billion, with total debt at $2.09 billion. Shareholders hold equity totaling $87.1 million.
Let’s look briefly at Bloomin’ Brands Inc. (BLMN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 August was 61.85% to suggest the stock is trending Neutral, with historical volatility in this time period at 55.26%.
The stock’s 5-day moving average is $27.04, reflecting a +6.09% or $1.59 change from its current price. BLMN is currently trading +0.84% above its 20-day SMA, +9.49% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +8.21% and SMA200 by+19.26%.
Stochastic %K and %D was 84.64% and 72.16% and the average true range (ATR) pointed at 1.07. The RSI (14) points at 58.24%, while the 14-day stochastic is at 83.01% with the period’s ATR at 1.00. The stock’s 9-day MACD Oscillator is pointing at 1.30 and 1.63 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Bloomin’ Brands Inc. (NASDAQ: BLMN), William Blair downgraded it to a Mkt perform rating. They previously had an Outperform rating on the stock. Analysts offering their rating for BLMN stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate BLMN as a “sell,”, while 8 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 3 have offered a “buy” rating.
What is BLMN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $27.00 and a high of $35.00, with their median price target at $29.00. Looking at these predictions, the average price target given by analysts is for Bloomin’ Brands Inc. (BLMN) stock is $29.73.
