Bloomin’ Brands (NASDAQ:BLMN) Sets New 52-Week Low Following Analyst Downgrade

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s stock price hit a new 52-week low during mid-day trading on Wednesday after UBS Group lowered their price target on the stock from $16.00 to $13.00. UBS Group currently has a neutral rating on the stock. Bloomin’ Brands traded as low as $11.24 and last traded at $11.42, with a volume of 129665 shares changing hands. The stock had previously closed at $11.87.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. reduced their price objective on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, November 12th. Barclays reaffirmed an “equal weight” rating and set a $13.00 price target (down from $19.00) on shares of Bloomin’ Brands in a research report on Tuesday. Piper Sandler lowered 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. StockNews.com raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Bank of America dropped their target price on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating and eleven have given a hold rating to the company. Based on data from MarketBeat.com, Bloomin’ Brands currently has a consensus rating of “Hold” and an average target price of $16.90.

Institutional Investors Weigh In On Bloomin’ Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in Bloomin’ Brands by 34.8% in the 3rd quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock worth $22,830,000 after buying an additional 356,456 shares during the last quarter. Barclays PLC lifted its position in shares of Bloomin’ Brands by 29.4% in the third quarter. Barclays PLC now owns 219,080 shares of the restaurant operator’s stock valued at $3,621,000 after acquiring an additional 49,723 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Bloomin’ Brands by 58.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 691,585 shares of the restaurant operator’s stock worth $11,432,000 after acquiring an additional 254,570 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in 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 purchasing an additional 147,895 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Bloomin’ Brands by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,255,059 shares of the restaurant operator’s stock valued at $20,746,000 after buying an additional 70,925 shares in the last quarter.

Bloomin’ Brands Stock Down 0.4 %

The business has a fifty day moving average of $13.32 and a 200 day moving average of $15.99. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -107.44 and a beta of 1.97.

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

Bloomin’ Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 25th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 8.12%. Bloomin’ Brands’s payout ratio is -872.73%.

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.