Bloomin’ Brands, Inc. (NASDAQ:BLMN – Get Free Report)’s stock price reached a new 52-week low on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $26.00 to $24.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Bloomin’ Brands traded as low as $20.63 and last traded at $20.63, with a volume of 46518 shares changing hands. The stock had previously closed at $21.02.
A number of other analysts also recently issued reports on the stock. Citigroup boosted their price objective on shares of Bloomin’ Brands from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. BMO Capital Markets cut their price target on Bloomin’ Brands from $29.00 to $27.00 and set a “market perform” rating for the company in a research note on Wednesday, May 8th. UBS Group cut their target price on Bloomin’ Brands from $30.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Finally, Barclays cut their price objective on shares of Bloomin’ Brands from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $27.30.
Hedge Funds Weigh In On Bloomin’ Brands
A number of large investors have recently modified their holdings of the company. Boston Partners lifted its position in Bloomin’ Brands by 1.4% in the 1st quarter. Boston Partners now owns 779,972 shares of the restaurant operator’s stock valued at $22,199,000 after acquiring an additional 11,009 shares in the last quarter. Cetera Advisors LLC bought a new position in shares of Bloomin’ Brands in the first quarter valued at approximately $867,000. EMC Capital Management boosted its position in shares of Bloomin’ Brands by 155.0% during the first quarter. EMC Capital Management now owns 15,829 shares of the restaurant operator’s stock valued at $454,000 after buying an additional 9,621 shares during the last quarter. Jaffetilchin Investment Partners LLC bought a new stake in Bloomin’ Brands during the first quarter worth $428,000. Finally, Bayesian Capital Management LP purchased a new stake in Bloomin’ Brands in the 1st quarter valued at $219,000.
Bloomin’ Brands Price Performance
The company has a current ratio of 0.33, a quick ratio of 0.26 and a debt-to-equity ratio of 3.12. The business has a 50-day moving average of $25.77 and a 200 day moving average of $26.14. The firm has a market capitalization of $1.81 billion, a PE ratio of 32.72 and a beta of 2.02.
Bloomin’ Brands (NASDAQ:BLMN – Get Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The restaurant operator reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.05). Bloomin’ Brands had a return on equity of 65.73% and a net margin of 1.56%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. As a group, research analysts anticipate that Bloomin’ Brands, Inc. will post 2.46 EPS for the current fiscal year.
Bloomin’ Brands Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Friday, May 17th. Bloomin’ Brands’s payout ratio is 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.