JPMorgan Chase & Co. Has Lowered Expectations for Bloomin’ Brands (NASDAQ:BLMN) Stock Price

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

Other analysts have also issued reports about the company. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft cut their price target on Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. UBS Group lowered their target price on Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. BMO Capital Markets lowered their target price on Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 7th. Finally, Morgan Stanley lowered their target price on Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Bloomin’ Brands currently has an average rating of “Hold” and an average price target of $19.70.

Bloomin’ Brands Stock Performance

BLMN stock opened at $13.20 on Tuesday. The business’s 50-day moving average price is $16.13 and its two-hundred day moving average price is $18.51. The company has a current ratio of 0.31, a quick ratio of 0.26 and a debt-to-equity ratio of 4.46. The firm has a market cap of $1.12 billion, a PE ratio of -119.99 and a beta of 2.04. Bloomin’ Brands has a 1-year low of $13.07 and a 1-year high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 earnings per share. As a group, research analysts forecast that Bloomin’ Brands will post 1.81 earnings per share for the current year.

Bloomin’ Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th will be issued a $0.24 dividend. The ex-dividend date is Monday, November 25th. This represents a $0.96 annualized dividend and a yield of 7.27%. Bloomin’ Brands’s dividend payout ratio is currently -872.65%.

Institutional Investors Weigh In On Bloomin’ Brands

A number of institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Bloomin’ Brands by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,553,719 shares of the restaurant operator’s stock valued at $49,105,000 after purchasing an additional 16,878 shares during the period. Principal Financial Group Inc. increased its position in Bloomin’ Brands by 6.2% during the third quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock worth $41,806,000 after acquiring an additional 147,895 shares during the period. Erste Asset Management GmbH acquired a new stake in Bloomin’ Brands in the 3rd quarter worth about $41,325,000. Victory Capital Management Inc. boosted its holdings in Bloomin’ Brands by 29.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator’s stock valued at $47,923,000 after purchasing an additional 569,855 shares during the period. Finally, Deprince Race & Zollo Inc. bought a new position in shares of Bloomin’ Brands during the second quarter worth approximately $28,672,000.

Bloomin’ Brands Company Profile

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.