Bloomin’ Brands (NASDAQ:BLMN) Hits New 1-Year Low – Here’s What Happened

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $8.43 and last traded at $8.44, with a volume of 4172833 shares trading hands. The stock had previously closed at $9.38.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Wednesday, February 26th. Barclays set a $11.00 target price on Bloomin’ Brands and gave the company an “equal weight” rating in a report on Thursday, February 27th. BMO Capital Markets decreased their target price on Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. UBS Group decreased their target price on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. decreased their target price on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.00.

Bloomin’ Brands Price Performance

The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46. The company has a market capitalization of $734.65 million, a PE ratio of -78.63 and a beta of 1.97. The stock has a fifty day simple moving average of $11.66 and a 200-day simple moving average of $14.04.

Bloomin’ Brands Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 6.94%. The ex-dividend date of this dividend is Tuesday, March 11th. Bloomin’ Brands’s payout ratio is currently -40.27%.

Institutional Trading of Bloomin’ Brands

Several institutional investors and hedge funds have recently made changes to their positions in BLMN. Gladius Capital Management LP purchased a new stake in shares of Bloomin’ Brands in the 3rd quarter valued at about $26,000. Headlands Technologies LLC purchased a new stake in shares of Bloomin’ Brands in the 4th quarter valued at about $27,000. Public Employees Retirement System of Ohio acquired a new position in Bloomin’ Brands in the 4th quarter valued at about $32,000. Meeder Asset Management Inc. acquired a new position in Bloomin’ Brands in the 4th quarter valued at about $41,000. Finally, New Age Alpha Advisors LLC acquired a new position in Bloomin’ Brands in the 4th quarter valued at about $45,000.

About Bloomin’ Brands

Bloomin’ Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.