Brokerages Set Bloomin’ Brands, Inc. (NASDAQ:BLMN) Target Price at $16.30

Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) have been assigned an average recommendation of “Reduce” from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $15.00.

A number of brokerages have recently commented on BLMN. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday. Barclays set a $11.00 target price on Bloomin’ Brands and gave the stock an “equal weight” rating in a research note on Thursday. Raymond James downgraded Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. BMO Capital Markets lowered their target price on Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating on the stock in a research note on Thursday. Finally, Piper Sandler reduced their price target on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, November 11th.

Hedge Funds Weigh In On Bloomin’ Brands

A number of hedge funds have recently made changes to their positions in BLMN. Gladius Capital Management LP acquired a new stake in shares of Bloomin’ Brands in the third quarter valued at approximately $26,000. Headlands Technologies LLC acquired a new stake in shares of Bloomin’ Brands in the fourth quarter valued at approximately $27,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Bloomin’ Brands in the fourth quarter valued at approximately $32,000. Meeder Asset Management Inc. acquired a new stake in shares of Bloomin’ Brands in the fourth quarter valued at approximately $41,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Bloomin’ Brands in the fourth quarter valued at approximately $45,000.

Bloomin’ Brands Stock Up 1.0 %

Shares of BLMN opened at $10.00 on Friday. Bloomin’ Brands has a 52 week low of $9.57 and a 52 week high of $30.13. 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 company has a market capitalization of $848.01 million, a price-to-earnings ratio of -90.86 and a beta of 1.97. The stock’s 50-day moving average price is $11.94 and its 200-day moving average price is $14.31.

Bloomin’ Brands Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.00%. Bloomin’ Brands’s payout ratio is currently -40.27%.

About Bloomin’ Brands

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.