Bloomin’ Brands (NASDAQ:BLMN) Shares Down 4.3% – What’s Next?

Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) traded down 4.3% during trading on Monday . The company traded as low as $11.44 and last traded at $11.44. 184,952 shares were traded during mid-day trading, a decline of 88% from the average session volume of 1,544,493 shares. The stock had previously closed at $11.95.

Analyst Upgrades and Downgrades

BLMN has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of Bloomin’ Brands in a research report on Thursday, December 5th. They set a “sell” rating and a $13.00 price objective on the stock. Piper Sandler dropped their price target on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. JPMorgan Chase & Co. reduced their price objective on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, November 12th. Bank of America dropped their target price on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.09.

Bloomin’ Brands Stock Down 5.6 %

The firm has a market capitalization of $957.03 million, a P/E ratio of -102.54 and a beta of 1.95. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46. The company has a 50 day simple moving average of $14.33 and a two-hundred day simple moving average of $16.61.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings results 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 negative net margin of 0.12% and a positive return on equity of 62.18%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm posted $0.44 EPS. Bloomin’ Brands’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, equities analysts predict that Bloomin’ Brands, Inc. will post 1.8 EPS for the current fiscal year.

Bloomin’ Brands Announces Dividend

The firm also recently announced 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. The ex-dividend date was Monday, November 25th. This represents a $0.96 annualized dividend and a dividend yield of 8.51%. Bloomin’ Brands’s dividend payout ratio (DPR) is presently -872.73%.

Institutional Trading of Bloomin’ Brands

A number of large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Bloomin’ Brands by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,204 shares of the restaurant operator’s stock valued at $331,000 after purchasing an additional 1,354 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Bloomin’ Brands by 0.3% during the 2nd quarter. Principal Financial Group Inc. now owns 2,381,235 shares of the restaurant operator’s stock worth $45,791,000 after acquiring an additional 6,107 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Bloomin’ Brands during the 2nd quarter valued at about $563,000. Farther Finance Advisors LLC raised its holdings in shares of Bloomin’ Brands by 38,817.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 13,232 shares of the restaurant operator’s stock valued at $256,000 after purchasing an additional 13,198 shares in the last quarter. Finally, BW Gestao de Investimentos Ltda. raised its holdings in shares of Bloomin’ Brands by 45.7% in the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 457,704 shares of the restaurant operator’s stock valued at $8,802,000 after purchasing an additional 143,485 shares in the last quarter.

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.