Bloomin’ Brands (NASDAQ:BLMN) Reaches New 12-Month Low – What’s Next?

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $13.11 and last traded at $13.19, with a volume of 717500 shares. The stock had previously closed at $13.43.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Raymond James downgraded shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. Barclays decreased their target price on shares of Bloomin’ Brands from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Piper Sandler dropped 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 note on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $19.70.

Bloomin’ Brands Stock Down 1.7 %

The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.26. The firm has a market cap of $1.12 billion, a P/E ratio of -119.99 and a beta of 2.04. The firm’s 50-day moving average price is $16.05 and its 200 day moving average price is $18.41.

Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The company had revenue of $1.03 billion during 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 business’s revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. On average, equities research analysts expect that Bloomin’ Brands, Inc. will post 1.81 earnings per share for the current fiscal year.

Bloomin’ Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 7.27%. Bloomin’ Brands’s dividend payout ratio (DPR) is -872.65%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BLMN. SG Americas Securities LLC lifted its holdings in Bloomin’ Brands by 219.2% in the second quarter. SG Americas Securities LLC now owns 165,705 shares of the restaurant operator’s stock worth $3,187,000 after acquiring an additional 113,798 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Bloomin’ Brands by 29.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator’s stock worth $47,923,000 after purchasing an additional 569,855 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Bloomin’ Brands in the 2nd quarter worth approximately $563,000. Edgestream Partners L.P. bought a new stake in shares of Bloomin’ Brands in the 2nd quarter worth approximately $711,000. Finally, Easterly Investment Partners LLC boosted its position in Bloomin’ Brands by 4.2% during the 2nd quarter. Easterly Investment Partners LLC now owns 588,864 shares of the restaurant operator’s stock valued at $11,324,000 after purchasing an additional 23,466 shares during the period.

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.