Bloomin’ Brands (NASDAQ:BLMN) Hits New 1-Year Low After Analyst Downgrade

Bloomin’ Brands, Inc. (NASDAQ:BLMNGet Free Report)’s stock price hit a new 52-week low during mid-day trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $26.00 to $24.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Bloomin’ Brands traded as low as $20.63 and last traded at $20.63, with a volume of 46518 shares changing hands. The stock had previously closed at $21.02.

A number of other brokerages also recently commented on BLMN. UBS Group reduced their target price on shares of Bloomin’ Brands from $30.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. BMO Capital Markets lowered their target price on shares of Bloomin’ Brands from $29.00 to $27.00 and set a “market perform” rating for the company in a research note on Wednesday, May 8th. Citigroup upped their price target on Bloomin’ Brands from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Finally, Barclays lowered their price objective on Bloomin’ Brands from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.30.

Read Our Latest Analysis on Bloomin’ Brands

Institutional Trading of Bloomin’ Brands

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Bloomin’ Brands by 1.4% in the third quarter. Vanguard Group Inc. now owns 12,527,385 shares of the restaurant operator’s stock valued at $308,048,000 after purchasing an additional 175,493 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Bloomin’ Brands by 4.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,509,269 shares of the restaurant operator’s stock worth $70,637,000 after purchasing an additional 104,368 shares during the period. Principal Financial Group Inc. raised its stake in shares of Bloomin’ Brands by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 2,375,128 shares of the restaurant operator’s stock worth $68,119,000 after buying an additional 58,001 shares during the period. Invesco Ltd. lifted its holdings in Bloomin’ Brands by 6.5% during the third quarter. Invesco Ltd. now owns 1,411,410 shares of the restaurant operator’s stock valued at $34,707,000 after purchasing an additional 86,272 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Bloomin’ Brands by 3.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,125,008 shares of the restaurant operator’s stock worth $32,267,000 after purchasing an additional 41,128 shares in the last quarter.

Bloomin’ Brands Stock Performance

The company has a current ratio of 0.33, a quick ratio of 0.26 and a debt-to-equity ratio of 3.12. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 32.86 and a beta of 2.02. The firm’s 50-day moving average is $25.49 and its two-hundred day moving average is $26.07.

Bloomin’ Brands (NASDAQ:BLMNGet Free Report) last released its earnings results on Tuesday, May 7th. The restaurant operator reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.05). Bloomin’ Brands had a net margin of 1.56% and a return on equity of 65.73%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the business earned $0.98 EPS. The business’s revenue was down 4.0% compared to the same quarter last year. As a group, sell-side analysts expect that Bloomin’ Brands, Inc. will post 2.46 earnings per share for the current year.

Bloomin’ Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date is Friday, May 17th. Bloomin’ Brands’s dividend payout ratio (DPR) is 150.00%.

Bloomin’ Brands Company Profile

(Get Free Report)

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.

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