Bloomin’ Brands (NASDAQ:BLMN) Stock Price Down 4.9%

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s stock price fell 4.9% during mid-day trading on Wednesday . The stock traded as low as $15.48 and last traded at $15.66. 288,814 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 1,475,765 shares. The stock had previously closed at $16.46.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BLMN shares. Deutsche Bank Aktiengesellschaft lowered their target price on Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Barclays reduced their price objective on shares of Bloomin’ Brands from $30.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. StockNews.com cut Bloomin’ Brands from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. reduced their price target on shares of Bloomin’ Brands from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, May 28th. Finally, UBS Group lowered their price target on shares of Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Bloomin’ Brands presently has an average rating of “Hold” and an average price target of $22.33.

Bloomin’ Brands Stock Down 3.2 %

The company has a market cap of $1.35 billion, a P/E ratio of 24.69 and a beta of 2.05. The stock has a 50-day moving average of $17.98 and a two-hundred day moving average of $22.27. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.26 and a current ratio of 0.35.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.07). Bloomin’ Brands had a return on equity of 61.90% and a net margin of 0.70%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The company’s revenue was down 2.9% compared to the same quarter last year. On average, research analysts anticipate that Bloomin’ Brands, Inc. will post 2.08 EPS for the current fiscal year.

Bloomin’ Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date was Tuesday, August 20th. Bloomin’ Brands’s dividend payout ratio (DPR) is presently 150.00%.

Institutional Investors Weigh In On Bloomin’ Brands

Institutional investors have recently bought and sold shares of the stock. Deprince Race & Zollo Inc. purchased a new stake in shares of Bloomin’ Brands during the second quarter valued at approximately $28,672,000. Victory Capital Management Inc. boosted its position 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 period. Millennium Management LLC grew its holdings in Bloomin’ Brands by 2,520.7% in the 2nd quarter. Millennium Management LLC now owns 468,507 shares of the restaurant operator’s stock worth $9,009,000 after acquiring an additional 450,630 shares during the last quarter. Norges Bank bought a new stake in Bloomin’ Brands in the 4th quarter worth $8,313,000. Finally, Heartland Advisors Inc. purchased a new position in shares of Bloomin’ Brands in the fourth quarter valued at about $7,452,000.

About Bloomin’ Brands

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.