Bloomin’ Brands (NASDAQ:BLMN) Price Target Cut to $16.00 by Analysts at Piper Sandler

Bloomin’ Brands (NASDAQ:BLMN) had its target price cut by Piper Sandler from $20.00 to $16.00 in a research note released on Monday morning,Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

Several other research firms also recently commented on BLMN. Citigroup decreased their target price on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Morgan Stanley reduced their price target on Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Bank of America reduced their price target 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. Barclays reduced their price target on Bloomin’ Brands from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Bloomin’ Brands currently has a consensus rating of “Hold” and a consensus target price of $20.70.

Bloomin’ Brands Price Performance

Shares of NASDAQ BLMN opened at $13.76 on Monday. The business’s 50 day moving average price is $16.42 and its two-hundred day moving average price is $18.77. The company has a market cap of $1.17 billion, a PE ratio of -124.44 and a beta of 2.04. The company has a quick ratio of 0.26, a current ratio of 0.35 and a debt-to-equity ratio of 3.46. Bloomin’ Brands has a twelve month low of $13.63 and a twelve month high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last posted its earnings results on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. Bloomin’ Brands had a return on equity of 61.90% and a net margin of 0.70%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the business earned $0.44 earnings per share. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, analysts predict that Bloomin’ Brands will post 1.77 EPS for the current year.

Bloomin’ Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 25th will be issued a $0.24 dividend. The ex-dividend date is Monday, November 25th. This represents a $0.96 dividend on an annualized basis and a yield of 6.98%. Bloomin’ Brands’s payout ratio is -872.65%.

Institutional Trading of Bloomin’ Brands

Institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new stake in Bloomin’ Brands in the first quarter valued at $30,000. Gladius Capital Management LP acquired a new stake in Bloomin’ Brands in the third quarter valued at $26,000. EntryPoint Capital LLC increased its holdings in Bloomin’ Brands by 6,454.9% in the first quarter. EntryPoint Capital LLC now owns 3,343 shares of the restaurant operator’s stock valued at $96,000 after purchasing an additional 3,292 shares during the period. KBC Group NV increased its holdings in Bloomin’ Brands by 79.1% in the third 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 period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Bloomin’ Brands during the 2nd quarter worth about $111,000.

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.