Barclays Cuts Bloomin’ Brands (NASDAQ:BLMN) Price Target to $19.00

Bloomin’ Brands (NASDAQ:BLMN) had its price objective decreased by Barclays from $20.00 to $19.00 in a research note released on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the restaurant operator’s stock.

A number of other equities research analysts have also recently commented on BLMN. Citigroup cut their target price on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. UBS Group lowered their price objective on shares of Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. BMO Capital Markets reduced their target price on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Morgan Stanley dropped their price target on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Finally, Raymond James lowered Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.70.

Bloomin’ Brands Trading Up 1.5 %

NASDAQ BLMN opened at $13.55 on Monday. The stock has a 50 day simple moving average of $16.20 and a two-hundred day simple moving average of $18.54. Bloomin’ Brands has a fifty-two week low of $13.11 and a fifty-two week high of $30.13. The stock has a market cap of $1.15 billion, a P/E ratio of -123.17 and a beta of 2.04. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.26 and a current ratio of 0.31.

Bloomin’ Brands (NASDAQ:BLMN) last posted its earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the business earned $0.44 EPS. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, analysts forecast that Bloomin’ Brands will post 1.8 earnings per share 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 dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date of this dividend is Monday, November 25th. Bloomin’ Brands’s dividend payout ratio is presently -872.65%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. SummerHaven Investment Management LLC increased its position in shares of Bloomin’ Brands by 2.6% during the second quarter. SummerHaven Investment Management LLC now owns 27,857 shares of the restaurant operator’s stock worth $536,000 after acquiring an additional 718 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in Bloomin’ Brands by 6.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 12,676 shares of the restaurant operator’s stock valued at $210,000 after purchasing an additional 780 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in Bloomin’ Brands by 1.4% during the 1st 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. Headlands Technologies LLC purchased a new stake in Bloomin’ Brands during the 1st quarter worth approximately $30,000. Finally, Hsbc Holdings PLC raised its position in shares of Bloomin’ Brands by 8.7% in the 2nd quarter. Hsbc Holdings PLC now owns 13,567 shares of the restaurant operator’s stock valued at $258,000 after purchasing an additional 1,083 shares in the last quarter.

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.