Bloomin’ Brands (NASDAQ:BLMN) Hits New 12-Month Low – Time to Sell?

Bloomin’ Brands, Inc. (NASDAQ:BLMN) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $9.77 and last traded at $10.26, with a volume of 1539643 shares changing hands. The stock had previously closed at $11.90.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Raymond James downgraded Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. UBS Group dropped their price objective on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. The Goldman Sachs Group assumed coverage on Bloomin’ Brands in a research note on Thursday, December 5th. They issued a “sell” rating and a $13.00 price target on the stock. Piper Sandler cut their price target on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Finally, Bank of America lowered Bloomin’ Brands from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $18.00 to $13.00 in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to MarketBeat, Bloomin’ Brands currently has a consensus rating of “Hold” and an average target price of $16.30.

Bloomin’ Brands Stock Performance

The stock has a fifty day moving average of $12.00 and a 200-day moving average of $14.36. The firm has a market capitalization of $838.08 million, a P/E ratio of -89.06 and a beta of 1.97. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Wednesday, February 26th. The restaurant operator reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. On average, research analysts anticipate that Bloomin’ Brands, Inc. will post 1.8 EPS for the current year.

Hedge Funds Weigh In On Bloomin’ Brands

A number of institutional investors have recently added to or reduced their stakes in BLMN. Principal Financial Group Inc. lifted its stake in Bloomin’ Brands by 6.2% in the third quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock valued at $41,806,000 after acquiring an additional 147,895 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of Bloomin’ Brands in the 3rd quarter valued at about $41,325,000. Victory Capital Management Inc. lifted its stake in Bloomin’ Brands by 0.4% in the 4th quarter. Victory Capital Management Inc. now owns 2,390,703 shares of the restaurant operator’s stock valued at $29,190,000 after purchasing an additional 10,635 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Bloomin’ Brands by 385.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,817,145 shares of the restaurant operator’s stock worth $22,187,000 after purchasing an additional 1,442,964 shares during the period. Finally, American Century Companies Inc. increased its position in Bloomin’ Brands by 565.9% during the fourth quarter. American Century Companies Inc. now owns 1,791,366 shares of the restaurant operator’s stock worth $21,873,000 after buying an additional 1,522,370 shares during the last quarter.

Bloomin’ Brands Company Profile

Bloomin’ Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.