Brokerages Set Bloomin’ Brands, Inc. (NASDAQ:BLMN) Price Target at $19.09

Bloomin’ Brands, Inc. (NASDAQ:BLMN) has been assigned an average recommendation of “Hold” from the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $19.09.

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of 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 cut their price objective on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Raymond James downgraded Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. Citigroup cut their price target on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. Finally, StockNews.com upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

Institutional Trading of Bloomin’ Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. Gladius Capital Management LP purchased a new position in shares of Bloomin’ Brands during the 3rd quarter valued at $26,000. KBC Group NV raised its holdings in Bloomin’ Brands by 79.1% during the third quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock valued at $56,000 after acquiring an additional 1,489 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Bloomin’ Brands in the second quarter valued at about $111,000. Point72 DIFC Ltd bought a new position in shares of Bloomin’ Brands in the second quarter worth about $169,000. Finally, Olympiad Research LP purchased a new stake in shares of Bloomin’ Brands during the third quarter worth about $202,000.

Bloomin’ Brands Trading Down 1.4 %

Bloomin’ Brands stock opened at $12.27 on Friday. Bloomin’ Brands has a one year low of $12.18 and a one year high of $30.13. The business’s fifty day moving average is $14.66 and its 200 day moving average is $16.94. The stock has a market capitalization of $1.04 billion, a PE ratio of -111.54 and a beta of 1.95. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.04 billion. During the same quarter last year, the firm posted $0.44 EPS. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, sell-side analysts predict that Bloomin’ Brands will post 1.8 EPS for the current year.

Bloomin’ Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 7.82%. The ex-dividend date of this dividend was Monday, November 25th. Bloomin’ Brands’s dividend payout ratio is currently -872.65%.

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.