Bloomin’ Brands (NASDAQ:BLMN) Hits New 52-Week Low After Analyst Downgrade

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s stock price reached a new 52-week low 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 trading hands. The stock had previously closed at $11.87.

A number of other research firms have also issued reports on BLMN. Piper Sandler reduced their target price 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. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Raymond James cut Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. Bank of America dropped their price objective on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. reduced their price target 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. One investment analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company. According to MarketBeat.com, Bloomin’ Brands has a consensus rating of “Hold” and an average price target of $16.90.

Hedge Funds Weigh In On Bloomin’ Brands

Several hedge funds have recently bought and sold shares of BLMN. Rhumbline Advisers lifted its holdings in shares of Bloomin’ Brands by 0.8% in the second quarter. Rhumbline Advisers now owns 256,123 shares of the restaurant operator’s stock valued at $4,925,000 after purchasing an additional 2,127 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Bloomin’ Brands by 29.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator’s stock valued at $47,923,000 after buying an additional 569,855 shares during the last quarter. Choreo LLC acquired a new position in shares of Bloomin’ Brands in the second quarter worth $307,000. Headlands Technologies LLC lifted its position in shares of Bloomin’ Brands by 1,693.0% in the second quarter. Headlands Technologies LLC now owns 18,862 shares of the restaurant operator’s stock valued at $363,000 after acquiring an additional 17,810 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Bloomin’ Brands by 4.8% during the 2nd quarter. American Century Companies Inc. now owns 219,002 shares of the restaurant operator’s stock worth $4,211,000 after purchasing an additional 9,988 shares in the last quarter.

Bloomin’ Brands Stock Down 3.0 %

The stock has a market cap of $976.54 million, a price-to-earnings ratio of -104.63 and a beta of 1.97. The firm’s 50 day moving average is $13.42 and its two-hundred day moving average is $16.04. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46.

Bloomin’ Brands (NASDAQ:BLMN) last released its earnings results on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 earnings per share. On average, sell-side analysts predict that Bloomin’ Brands, Inc. will post 1.8 EPS for the current year.

Bloomin’ Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Monday, November 25th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 8.34%. The ex-dividend date was Monday, November 25th. Bloomin’ Brands’s dividend payout ratio (DPR) is currently -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.