UBS Group Lowers Bloomin’ Brands (NASDAQ:BLMN) Price Target to $13.00

Bloomin’ Brands (NASDAQ:BLMN) had its target price decreased by UBS Group from $16.00 to $13.00 in a research report report published on Tuesday,Benzinga reports. UBS Group currently has a neutral rating on the restaurant operator’s stock.

A number of other research firms have also recently weighed in on BLMN. Barclays reaffirmed an “equal weight” rating and set a $13.00 price target (down previously from $19.00) on shares of Bloomin’ Brands in a report on Tuesday. The Goldman Sachs Group began coverage on Bloomin’ Brands in a report on Thursday, December 5th. They set a “sell” rating and a $13.00 price target on the stock. JPMorgan Chase & Co. cut their price target on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, November 12th. Raymond James cut Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. Finally, Bank of America cut their price target on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the stock. Based on data from MarketBeat.com, Bloomin’ Brands currently has an average rating of “Hold” and a consensus target price of $16.90.

Bloomin’ Brands Stock Performance

Shares of NASDAQ BLMN opened at $11.82 on Tuesday. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46. The firm’s 50-day moving average price is $13.22 and its two-hundred day moving average price is $15.96. Bloomin’ Brands has a 52-week low of $11.24 and a 52-week high of $30.13. The stock has a market capitalization of $1.00 billion, a P/E ratio of -107.44 and a beta of 1.97.

Bloomin’ Brands (NASDAQ:BLMN) last issued 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 negative net margin of 0.12% and a positive return on equity of 62.18%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the company posted $0.44 earnings per share. Bloomin’ Brands’s revenue was down 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that Bloomin’ Brands will post 1.8 earnings per share for the current year.

Bloomin’ Brands Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BLMN. Gladius Capital Management LP acquired a new position in Bloomin’ Brands in the third quarter worth approximately $26,000. KBC Group NV grew 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 worth $56,000 after buying an additional 1,489 shares during the last quarter. GAMMA Investing LLC grew its position in Bloomin’ Brands by 606.6% in the fourth quarter. GAMMA Investing LLC now owns 4,890 shares of the restaurant operator’s stock worth $60,000 after buying an additional 4,198 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Bloomin’ Brands in the second quarter worth approximately $111,000. Finally, Point72 DIFC Ltd acquired a new position in Bloomin’ Brands in the second quarter worth approximately $169,000.

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.