JPMorgan Chase & Co. Issues Pessimistic Forecast for Bloomin’ Brands (NASDAQ:BLMN) Stock Price

Bloomin’ Brands (NASDAQ:BLMN) had its price target cut by JPMorgan Chase & Co. from $19.00 to $14.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

BLMN has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft reduced 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 note on Wednesday, August 7th. Barclays dropped their target price on shares of Bloomin’ Brands from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday. Citigroup lowered their price target on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. BMO Capital Markets decreased their price objective on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. Finally, Bank of America dropped their price objective on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.70.

Bloomin’ Brands Stock Performance

BLMN opened at $13.43 on Tuesday. Bloomin’ Brands has a 1-year low of $13.11 and a 1-year high of $30.13. The company has a 50 day simple moving average of $16.20 and a two-hundred day simple moving average of $18.54. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.26. The firm has a market cap of $1.14 billion, a P/E ratio of -122.08 and a beta of 2.04.

Bloomin’ Brands (NASDAQ:BLMN) last released its earnings results on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 earnings per share. Equities analysts forecast that Bloomin’ Brands will post 1.8 earnings per share for the current fiscal year.

Bloomin’ Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 25th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 7.15%. The ex-dividend date of this dividend is Monday, November 25th. Bloomin’ Brands’s dividend payout ratio (DPR) is -872.65%.

Hedge Funds Weigh In On Bloomin’ Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gladius Capital Management LP acquired a new position in Bloomin’ Brands in the third quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new stake in shares of Bloomin’ Brands during the first quarter worth approximately $30,000. KBC Group NV raised its stake in shares of Bloomin’ Brands by 79.1% during the third quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock worth $56,000 after purchasing an additional 1,489 shares during the last quarter. EntryPoint Capital LLC raised its stake in shares of Bloomin’ Brands by 6,454.9% during the first quarter. EntryPoint Capital LLC now owns 3,343 shares of the restaurant operator’s stock worth $96,000 after purchasing an additional 3,292 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Bloomin’ Brands during the second quarter worth approximately $111,000.

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.