Bloomin’ Brands, Inc. (NASDAQ:BLMN) to Issue Quarterly Dividend of $0.15

Bloomin’ Brands, Inc. (NASDAQ:BLMN) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders of record on Tuesday, March 11th will be given a dividend of 0.15 per share by the restaurant operator on Wednesday, March 26th. This represents a $0.60 annualized dividend and a yield of 6.00%. The ex-dividend date of this dividend is Tuesday, March 11th.

Bloomin’ Brands has a dividend payout ratio of 47.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Bloomin’ Brands to earn $1.76 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 54.5%.

Bloomin’ Brands Stock Performance

NASDAQ BLMN opened at $10.00 on Friday. The firm has a market capitalization of $848.01 million, a P/E ratio of -90.86 and a beta of 1.97. The stock has a 50-day simple moving average of $11.90 and a two-hundred day simple moving average of $14.28. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31. Bloomin’ Brands has a fifty-two week low of $9.57 and a fifty-two week high of $30.13.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Barclays set a $11.00 price target on Bloomin’ Brands and gave the company an “equal weight” rating in a report on Thursday. Bank of America cut shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $18.00 to $13.00 in a research note on Monday, January 27th. BMO Capital Markets lowered their price target on shares of Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating on the stock in a report on Thursday. Piper Sandler cut their price objective on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Finally, The Goldman Sachs Group lowered their target price on shares of Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating on the stock in a research note on Thursday. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. According to MarketBeat.com, Bloomin’ Brands has a consensus rating of “Hold” and an average price target of $15.00.

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.