Bloomin’ Brands, Inc. (NASDAQ:BLMN – Get Free Report) gapped down prior to trading on Tuesday after Citigroup lowered their price target on the stock from $22.00 to $20.00. The stock had previously closed at $17.93, but opened at $17.44. Citigroup currently has a neutral rating on the stock. Bloomin’ Brands shares last traded at $17.26, with a volume of 74,078 shares changing hands.
Several other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Bloomin’ Brands from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. BMO Capital Markets lowered their target price on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. StockNews.com downgraded shares of Bloomin’ Brands from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Finally, Barclays lowered their price objective on shares of Bloomin’ Brands from $30.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $22.33.
Hedge Funds Weigh In On Bloomin’ Brands
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC increased its position in shares of Bloomin’ Brands by 1.6% in the 4th quarter. SummerHaven Investment Management LLC now owns 26,763 shares of the restaurant operator’s stock valued at $753,000 after purchasing an additional 417 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its position in Bloomin’ Brands by 5.2% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 13,686 shares of the restaurant operator’s stock worth $393,000 after acquiring an additional 671 shares during the period. Rye Brook Capital LLC lifted its holdings in shares of Bloomin’ Brands by 0.3% during the first quarter. Rye Brook Capital LLC now owns 247,700 shares of the restaurant operator’s stock worth $7,104,000 after purchasing an additional 700 shares during the period. Watershed Asset Management L.L.C. boosted its holdings in shares of Bloomin’ Brands by 7.2% in the fourth quarter. Watershed Asset Management L.L.C. now owns 11,207 shares of the restaurant operator’s stock valued at $315,000 after acquiring an additional 756 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Bloomin’ Brands by 4.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,267 shares of the restaurant operator’s stock valued at $486,000 after purchasing an additional 776 shares in the last quarter.
Bloomin’ Brands Price Performance
The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 27.39 and a beta of 2.04. The stock has a fifty day moving average of $18.50 and a two-hundred day moving average of $23.27. The company has a quick ratio of 0.26, a current ratio of 0.33 and a debt-to-equity ratio of 3.12.
Bloomin’ Brands (NASDAQ:BLMN – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.07). Bloomin’ Brands had a net margin of 1.56% and a return on equity of 65.73%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company posted $0.74 earnings per share. Bloomin’ Brands’s revenue was down 2.9% on a year-over-year basis. On average, equities research analysts anticipate that Bloomin’ Brands, Inc. will post 2.37 earnings per share for the current year.
Bloomin’ Brands Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date is Tuesday, August 20th. Bloomin’ Brands’s dividend payout ratio is presently 150.00%.
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; and Fleming’s Prime Steakhouse & Wine Bar, a contemporary steakhouse.