Bloomin’ Brands (NASDAQ:BLMN) Sets New 52-Week Low on Analyst Downgrade

Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) reached a new 52-week low during mid-day trading on Wednesday after UBS Group lowered their price target on the stock from $16.00 to $13.00. UBS Group currently has a neutral rating on the stock. Bloomin’ Brands traded as low as $11.24 and last traded at $11.42, with a volume of 129665 shares. The stock had previously closed at $11.87.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group started coverage on Bloomin’ Brands in a report on Thursday, December 5th. They set a “sell” rating and a $13.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, November 12th. Piper Sandler decreased their price objective on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $13.00 target price (down from $19.00) on shares of Bloomin’ Brands in a research report on Tuesday. One research analyst has rated the stock with a sell rating and eleven have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.90.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Verdence Capital Advisors LLC raised its position in Bloomin’ Brands by 6.6% in the third quarter. Verdence Capital Advisors LLC now owns 12,676 shares of the restaurant operator’s stock valued at $210,000 after purchasing an additional 780 shares during the period. Hsbc Holdings PLC raised its position in Bloomin’ Brands by 8.7% in the second quarter. Hsbc Holdings PLC now owns 13,567 shares of the restaurant operator’s stock valued at $258,000 after purchasing an additional 1,083 shares during the period. Franklin Resources Inc. raised its position in Bloomin’ Brands by 2.9% in the third quarter. Franklin Resources Inc. now owns 50,007 shares of the restaurant operator’s stock valued at $773,000 after purchasing an additional 1,392 shares during the period. KBC Group NV raised its position in Bloomin’ Brands by 79.1% in the third quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock valued at $56,000 after purchasing an additional 1,489 shares during the period. Finally, Gladius Capital Management LP purchased a new position in Bloomin’ Brands in the third quarter valued at about $26,000.

Bloomin’ Brands Stock Down 0.4 %

The firm has a 50-day simple moving average of $13.22 and a 200 day simple moving average of $15.96. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22. The company has a market capitalization of $1.00 billion, a PE ratio of -107.44 and a beta of 1.97.

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

Bloomin’ Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 25th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 8.12%. The ex-dividend date was Monday, November 25th. Bloomin’ Brands’s payout ratio is -872.73%.

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.