Bloomin’ Brands (NASDAQ:BLMN) Reaches New 12-Month Low – Here’s Why

Bloomin’ Brands, Inc. (NASDAQ:BLMN) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $11.91 and last traded at $11.97, with a volume of 1801514 shares changing hands. The stock had previously closed at $12.60.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BLMN shares. 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 research report on Monday, November 11th. JPMorgan Chase & Co. cut their price target on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, November 12th. Bank of America decreased their price objective on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Raymond James cut shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $19.09.

Bloomin’ Brands Stock Performance

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 stock has a market capitalization of $1.01 billion, a PE ratio of -108.63 and a beta of 1.95. The business’s 50 day moving average is $14.33 and its 200 day moving average is $16.66.

Bloomin’ Brands (NASDAQ:BLMN) last announced its earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the business earned $0.44 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, equities research analysts predict that Bloomin’ Brands, Inc. will post 1.8 earnings per share for the current fiscal year.

Bloomin’ Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 25th were given a dividend of $0.24 per share. The ex-dividend date was Monday, November 25th. This represents a $0.96 annualized dividend and a dividend yield of 8.03%. Bloomin’ Brands’s dividend payout ratio (DPR) is -872.73%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BLMN. Dimensional Fund Advisors LP lifted its stake in Bloomin’ Brands by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,553,719 shares of the restaurant operator’s stock worth $49,105,000 after acquiring an additional 16,878 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Bloomin’ Brands by 6.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock valued at $41,806,000 after acquiring an additional 147,895 shares during the period. Erste Asset Management GmbH bought a new position in shares of Bloomin’ Brands in the 3rd quarter worth $41,325,000. Victory Capital Management Inc. raised its position in shares of 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 acquiring an additional 569,855 shares in the last quarter. Finally, Deprince Race & Zollo Inc. purchased a new stake in shares of Bloomin’ Brands during the 2nd quarter worth $28,672,000.

Bloomin’ Brands Company Profile

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.