Bloomin’ Brands (NASDAQ:BLMN) Sets New 12-Month Low – What’s Next?

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $11.91 and last traded at $11.97, with a volume of 1801514 shares trading hands. The stock had previously closed at $12.60.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Piper Sandler cut their target price on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Raymond James downgraded shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lowered their price target on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, November 12th. Finally, Barclays reduced their price objective on shares of Bloomin’ Brands from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Bloomin’ Brands currently has an average rating of “Hold” and an average target price of $19.09.

Bloomin’ Brands Stock Down 5.0 %

The firm’s 50 day simple moving average is $14.48 and its 200-day simple moving average is $16.76. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -108.81 and a beta of 1.95.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the business posted $0.44 EPS. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bloomin’ Brands, Inc. will post 1.8 earnings per share for the current year.

Bloomin’ Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 8.02%. The ex-dividend date of this dividend was Monday, November 25th. Bloomin’ Brands’s payout ratio is currently -872.73%.

Institutional Investors Weigh In On Bloomin’ Brands

A number of institutional investors and hedge funds have recently made changes to their positions in BLMN. Gladius Capital Management LP acquired a new position in Bloomin’ Brands in the 3rd quarter valued at about $26,000. KBC Group NV grew its stake in shares of Bloomin’ Brands by 79.1% in the 3rd quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock valued at $56,000 after purchasing an additional 1,489 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Bloomin’ Brands in the second quarter valued at approximately $111,000. Point72 DIFC Ltd purchased a new stake in shares of Bloomin’ Brands during the second quarter worth approximately $169,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Bloomin’ Brands during the second quarter worth $230,000.

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.