Bloomin’ Brands (NASDAQ:BLMN) Hits New 52-Week Low – What’s Next?

Bloomin’ Brands, Inc. (NASDAQ:BLMN) shares hit a new 52-week low on Friday . The stock traded as low as $15.00 and last traded at $15.00, with a volume of 54545 shares changing hands. The stock had previously closed at $16.78.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BLMN. Barclays cut their price target on shares of Bloomin’ Brands from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Citigroup dropped their target price on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, August 19th. UBS Group dropped their target price on shares of Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Morgan Stanley dropped their target price on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $21.33.

Bloomin’ Brands Stock Down 9.7 %

The company has a quick ratio of 0.26, a current ratio of 0.35 and a debt-to-equity ratio of 3.46. The company’s fifty day simple moving average is $16.42 and its 200 day simple moving average is $18.82. The firm has a market capitalization of $1.29 billion, a PE ratio of 58.27 and a beta of 2.04.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings data 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 net margin of 0.70% and a return on equity of 61.90%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business posted $0.44 earnings per share. Bloomin’ Brands’s quarterly revenue was down 5.1% compared to the same quarter last year. Analysts anticipate that Bloomin’ Brands, Inc. will post 2.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bloomin’ Brands

A number of institutional investors and hedge funds have recently made changes to their positions in BLMN. Texas Permanent School Fund Corp increased its stake in shares of Bloomin’ Brands by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 75,979 shares of the restaurant operator’s stock valued at $2,179,000 after purchasing an additional 1,017 shares in the last quarter. Duality Advisers LP bought a new position in shares of Bloomin’ Brands during the first quarter valued at approximately $225,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Bloomin’ Brands during the first quarter valued at approximately $1,285,000. Sei Investments Co. increased its stake in shares of Bloomin’ Brands by 6.5% during the first quarter. Sei Investments Co. now owns 200,446 shares of the restaurant operator’s stock valued at $5,749,000 after purchasing an additional 12,192 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Bloomin’ Brands during the first quarter valued at approximately $30,000.

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.