Bloomin’ Brands, Inc. (NASDAQ:BLMN) Announces $0.24 Quarterly Dividend

Bloomin’ Brands, Inc. (NASDAQ:BLMN) declared a quarterly dividend on Tuesday, October 22nd,Wall Street Journal reports. Shareholders of record on Monday, November 25th will be given a dividend of 0.24 per share by the restaurant operator on Wednesday, December 11th. This represents a $0.96 annualized dividend and a yield of 7.28%. The ex-dividend date is Monday, November 25th.

Bloomin’ Brands has increased its dividend payment by an average of 68.7% annually over the last three years. Bloomin’ Brands has a dividend payout ratio of 52.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bloomin’ Brands to earn $1.75 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 54.9%.

Bloomin’ Brands Trading Up 3.1 %

Shares of NASDAQ:BLMN opened at $13.19 on Friday. The firm has a fifty day moving average of $15.70 and a two-hundred day moving average of $17.98. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46. Bloomin’ Brands has a 12-month low of $12.26 and a 12-month high of $30.13. The firm has a market capitalization of $1.12 billion, a P/E ratio of -119.90 and a beta of 2.04.

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

Analysts Set New Price Targets

Several brokerages recently commented on BLMN. Barclays lowered their price target on Bloomin’ Brands from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Citigroup decreased their target price on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. BMO Capital Markets dropped their price target on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. UBS Group reduced their price objective on shares of Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Bank of America lowered their target price on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $19.70.

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.