Bloomin’ Brands (NASDAQ:BLMN) Shares Gap Down After Analyst Downgrade

Bloomin’ Brands, Inc. (NASDAQ:BLMN) shares gapped down prior to trading on Tuesday after UBS Group lowered their price target on the stock from $16.00 to $13.00. The stock had previously closed at $12.62, but opened at $12.18. UBS Group currently has a neutral rating on the stock. Bloomin’ Brands shares last traded at $12.71, with a volume of 153,785 shares traded.

A number of other equities analysts also recently commented on the stock. Barclays reiterated an “equal weight” rating and issued a $13.00 target price (down from $19.00) on shares of Bloomin’ Brands in a report on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, November 12th. Piper Sandler cut their price target on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Bank of America decreased their price objective on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Finally, StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $16.90.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Gladius Capital Management LP acquired a new position in Bloomin’ Brands in the 3rd quarter worth approximately $26,000. KBC Group NV increased its stake in shares of Bloomin’ Brands by 79.1% in the third quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock worth $56,000 after acquiring an additional 1,489 shares during the period. GAMMA Investing LLC increased its stake in shares of Bloomin’ Brands by 606.6% in the fourth quarter. GAMMA Investing LLC now owns 4,890 shares of the restaurant operator’s stock worth $60,000 after acquiring an additional 4,198 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Bloomin’ Brands during the second quarter worth $111,000. Finally, Point72 DIFC Ltd acquired a new position in Bloomin’ Brands during the second quarter valued at $169,000.

Bloomin’ Brands Stock Performance

The firm’s fifty day simple moving average is $13.42 and its 200 day simple moving average is $16.04. The company has a market capitalization of $1.01 billion, a PE ratio of -107.90 and a beta of 1.97. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22.

Bloomin’ Brands (NASDAQ:BLMN) last issued its 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. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The company’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 earnings per share. On average, research analysts predict that Bloomin’ Brands, Inc. will post 1.8 EPS for the current year.

Bloomin’ Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Monday, November 25th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 8.09%. The ex-dividend date of this dividend was Monday, November 25th. Bloomin’ Brands’s dividend payout ratio (DPR) is presently -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.