Bloomin’ Brands (NASDAQ:BLMN) Shares Up 9.2% – What’s Next?

Bloomin’ Brands, Inc. (NASDAQ:BLMN) was up 9.2% during trading on Monday . The stock traded as high as $14.29 and last traded at $14.14. Approximately 880,818 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 1,520,038 shares. The stock had previously closed at $12.95.

Analyst Ratings Changes

Several research firms recently weighed in on BLMN. JPMorgan Chase & Co. dropped their price objective on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 12th. 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 cut their target price on Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Finally, Citigroup cut their price objective on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $19.70.

Bloomin’ Brands Trading Up 9.2 %

The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46. The firm has a 50-day moving average price of $15.70 and a 200-day moving average price of $17.89. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -127.44 and a beta of 2.04.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly 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. 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 period in the previous year, the business earned $0.44 earnings per share. Bloomin’ Brands’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that Bloomin’ Brands, Inc. will post 1.8 EPS for the current year.

Bloomin’ Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th will be given a $0.24 dividend. The ex-dividend date is Monday, November 25th. This represents a $0.96 annualized dividend and a yield of 6.78%. Bloomin’ Brands’s dividend payout ratio (DPR) is -872.65%.

Institutional Investors Weigh In On Bloomin’ Brands

Institutional investors and hedge funds have recently modified their holdings of the stock. Erste Asset Management GmbH acquired a new position in shares of Bloomin’ Brands in the 3rd quarter worth $41,325,000. Deprince Race & Zollo Inc. purchased a new position in Bloomin’ Brands in the 2nd quarter worth about $28,672,000. Victory Capital Management Inc. increased its stake 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 worth $47,923,000 after purchasing an additional 569,855 shares in the last quarter. Millennium Management LLC raised its holdings in Bloomin’ Brands by 2,520.7% during the 2nd quarter. Millennium Management LLC now owns 468,507 shares of the restaurant operator’s stock worth $9,009,000 after buying an additional 450,630 shares during the period. Finally, FMR LLC lifted its stake in Bloomin’ Brands by 34.8% during the third quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock valued at $22,830,000 after buying an additional 356,456 shares in the last quarter.

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.