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

Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) reached a new 52-week low during trading on Thursday . The stock traded as low as $15.15 and last traded at $15.35, with a volume of 36673 shares traded. The stock had previously closed at $15.53.

Analyst Ratings Changes

BLMN has been the subject of several recent analyst reports. StockNews.com raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Saturday. BMO Capital Markets lowered their target price on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. Barclays lowered their target price on shares of Bloomin’ Brands from $30.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Citigroup lowered 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 note on Monday, August 19th. Finally, Morgan Stanley lowered their target price on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.33.

Bloomin’ Brands Price Performance

The company has a current ratio of 0.35, a quick ratio of 0.26 and a debt-to-equity ratio of 3.46. The company has a market capitalization of $1.35 billion, a PE ratio of 61.08 and a beta of 2.04. The company’s 50 day moving average price is $16.87 and its 200-day moving average price is $20.53.

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

Bloomin’ Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th were issued a dividend of $0.24 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.96 annualized dividend and a dividend yield of 6.05%. Bloomin’ Brands’s payout ratio is 369.24%.

Hedge Funds Weigh In On Bloomin’ Brands

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new position in Bloomin’ Brands in the 1st quarter worth $30,000. EntryPoint Capital LLC lifted its holdings in 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Bloomin’ Brands in the 2nd quarter worth $111,000. Point72 DIFC Ltd acquired a new position in Bloomin’ Brands in the 2nd quarter worth $169,000. Finally, Bayesian Capital Management LP acquired a new position in Bloomin’ Brands in the 1st quarter worth $219,000.

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.