Piper Sandler Cuts Bloomin’ Brands (NASDAQ:BLMN) Price Target to $16.00

Bloomin’ Brands (NASDAQ:BLMN) had its price target decreased by Piper Sandler from $20.00 to $16.00 in a research note released on Monday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the restaurant operator’s stock.

A number of other research analysts have also commented on BLMN. Barclays cut their price objective on shares of Bloomin’ Brands from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft decreased their price objective on Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. BMO Capital Markets cut their target price on Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. Raymond James lowered shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday. Finally, StockNews.com upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.70.

Bloomin’ Brands Stock Performance

BLMN stock opened at $13.55 on Monday. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -123.17 and a beta of 2.04. Bloomin’ Brands has a 12 month low of $13.11 and a 12 month high of $30.13. The firm has a 50 day moving average of $16.20 and a two-hundred day moving average of $18.54. The company has a quick ratio of 0.26, a current ratio of 0.31 and a debt-to-equity ratio of 4.46.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings data on Friday, November 8th. The restaurant operator reported $0.21 earnings per share (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 business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the firm earned $0.44 EPS. Bloomin’ Brands’s quarterly revenue was down 5.1% compared to the same quarter last year. As a group, equities analysts anticipate that Bloomin’ Brands will post 1.8 EPS for the current fiscal year.

Bloomin’ Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th will be issued 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 is Monday, November 25th. Bloomin’ Brands’s dividend payout ratio is currently -872.65%.

Institutional Trading of Bloomin’ Brands

Several hedge funds have recently modified their holdings of BLMN. Texas Permanent School Fund Corp grew its position in shares of 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 worth $2,179,000 after buying an additional 1,017 shares during the period. Duality Advisers LP acquired a new stake in shares of Bloomin’ Brands in the 1st quarter valued at approximately $225,000. Sei Investments Co. boosted its stake in Bloomin’ Brands by 6.5% during the 1st quarter. Sei Investments Co. now owns 200,446 shares of the restaurant operator’s stock worth $5,749,000 after acquiring an additional 12,192 shares during the last quarter. Headlands Technologies LLC bought a new stake in Bloomin’ Brands in the first quarter valued at approximately $30,000. Finally, Russell Investments Group Ltd. raised its holdings in Bloomin’ Brands by 3.7% in the first quarter. Russell Investments Group Ltd. now owns 267,338 shares of the restaurant operator’s stock worth $7,667,000 after purchasing an additional 9,658 shares during the period.

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.