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

Bloomin’ Brands, Inc. (NASDAQ:BLMNGet Free Report) shares reached a new 52-week low during mid-day trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $26.00 to $24.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Bloomin’ Brands traded as low as $20.63 and last traded at $20.63, with a volume of 46518 shares. The stock had previously closed at $21.02.

Several other research firms have also recently commented on BLMN. BMO Capital Markets cut their price target on Bloomin’ Brands from $29.00 to $27.00 and set a “market perform” rating for the company in a report on Wednesday, May 8th. Citigroup raised their price target on Bloomin’ Brands from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. UBS Group reduced their price target on Bloomin’ Brands from $30.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Finally, Barclays reduced their price target on Bloomin’ Brands from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $27.30.

View Our Latest Stock Analysis on BLMN

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new position in shares of Bloomin’ Brands in the 1st quarter worth approximately $30,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Bloomin’ Brands in the 3rd quarter worth approximately $32,000. TFO Wealth Partners LLC boosted its stake in shares of Bloomin’ Brands by 284,000.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,841 shares of the restaurant operator’s stock worth $80,000 after buying an additional 2,840 shares during the last quarter. EntryPoint Capital LLC boosted its stake in shares of Bloomin’ Brands by 6,454.9% in the 1st quarter. EntryPoint Capital LLC now owns 3,343 shares of the restaurant operator’s stock worth $96,000 after buying an additional 3,292 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Bloomin’ Brands by 221.2% in the 3rd quarter. Signaturefd LLC now owns 4,147 shares of the restaurant operator’s stock worth $102,000 after purchasing an additional 2,856 shares during the period.

Bloomin’ Brands Price Performance

The company has a current ratio of 0.33, a quick ratio of 0.26 and a debt-to-equity ratio of 3.12. The company has a market cap of $1.78 billion, a P/E ratio of 32.84 and a beta of 2.02. The business’s fifty day moving average is $25.77 and its 200 day moving average is $26.14.

Bloomin’ Brands (NASDAQ:BLMNGet Free Report) last issued its earnings results on Tuesday, May 7th. The restaurant operator reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.05). Bloomin’ Brands had a net margin of 1.56% and a return on equity of 65.73%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the firm earned $0.98 EPS. The company’s revenue was down 4.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bloomin’ Brands, Inc. will post 2.46 EPS for the current year.

Bloomin’ Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, May 17th. This represents a $0.96 dividend on an annualized basis and a yield of 4.66%. Bloomin’ Brands’s payout ratio is 150.00%.

About Bloomin’ Brands

(Get Free Report)

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.

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