Bloomin’ Brands (NASDAQ:BLMN) Hits New 12-Month Low – Here’s Why

Bloomin’ Brands, Inc. (NASDAQ:BLMN) shares reached a new 52-week low on Friday . The stock traded as low as $12.23 and last traded at $12.28, with a volume of 133098 shares traded. The stock had previously closed at $12.45.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup lowered their price objective on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. Bank of America dropped their price target on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Raymond James lowered Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. Barclays dropped their target price on shares of Bloomin’ Brands from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, The Goldman Sachs Group started coverage on shares of Bloomin’ Brands in a research note on Thursday, December 5th. They issued a “sell” rating and a $13.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Bloomin’ Brands has an average rating of “Hold” and an average target price of $19.09.

Bloomin’ Brands Stock Down 1.5 %

The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31. The company’s 50-day moving average is $14.74 and its 200-day moving average is $17.03.

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, topping analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 EPS. As a group, equities research analysts predict that Bloomin’ Brands, Inc. will post 1.8 earnings per share for the current 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 $0.24 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.96 dividend on an annualized basis and a yield of 7.83%. Bloomin’ Brands’s dividend payout ratio is currently -872.65%.

Hedge Funds Weigh In On Bloomin’ Brands

Hedge funds have recently modified their holdings of the business. FMR LLC lifted its position in Bloomin’ Brands by 34.8% in the third quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock valued at $22,830,000 after buying an additional 356,456 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Bloomin’ Brands by 29.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator’s stock worth $47,923,000 after acquiring an additional 569,855 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Bloomin’ Brands by 58.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 691,585 shares of the restaurant operator’s stock worth $11,432,000 after purchasing an additional 254,570 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Bloomin’ Brands in the 2nd quarter valued at approximately $563,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Bloomin’ Brands by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,255,059 shares of the restaurant operator’s stock valued at $20,746,000 after purchasing an additional 70,925 shares during the last quarter.

Bloomin’ Brands Company Profile

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.