Bloomin’ Brands (NASDAQ:BLMN) Shares Gap Down Following Analyst Downgrade

Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) gapped down prior to trading on Tuesday after UBS Group lowered their price target on the stock from $16.00 to $13.00. The stock had previously closed at $12.62, but opened at $12.18. UBS Group currently has a neutral rating on the stock. Bloomin’ Brands shares last traded at $12.71, with a volume of 153,785 shares traded.

BLMN has been the topic of several other research reports. Bank of America lowered their price target on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Raymond James lowered shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. Barclays reissued an “equal weight” rating and issued a $13.00 price target (down previously from $19.00) on shares of Bloomin’ Brands in a report on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, November 12th. Finally, Piper Sandler reduced their target price 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. One research analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company. According to MarketBeat.com, Bloomin’ Brands has an average rating of “Hold” and an average price target of $16.90.

Institutional Investors Weigh In On Bloomin’ Brands

A number of hedge funds and other institutional investors have recently modified their holdings of BLMN. Rhumbline Advisers increased its stake in Bloomin’ Brands by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 256,123 shares of the restaurant operator’s stock worth $4,925,000 after purchasing an additional 2,127 shares during the period. Victory Capital Management Inc. increased its stake in shares of Bloomin’ Brands by 29.6% in the second quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator’s stock worth $47,923,000 after buying an additional 569,855 shares during the period. Choreo LLC bought a new stake in Bloomin’ Brands during the 2nd quarter valued at $307,000. Headlands Technologies LLC boosted its position in Bloomin’ Brands by 1,693.0% during the 2nd quarter. Headlands Technologies LLC now owns 18,862 shares of the restaurant operator’s stock valued at $363,000 after buying an additional 17,810 shares during the period. Finally, American Century Companies Inc. grew its holdings in Bloomin’ Brands by 4.8% in the 2nd quarter. American Century Companies Inc. now owns 219,002 shares of the restaurant operator’s stock worth $4,211,000 after acquiring an additional 9,988 shares during the last quarter.

Bloomin’ Brands Price Performance

The stock has a market cap of $1.07 billion, a PE ratio of -114.54 and a beta of 1.97. The business’s 50-day simple moving average is $13.42 and its 200-day simple moving average is $16.04. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46.

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. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. Bloomin’ Brands’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 EPS. On average, research analysts expect that Bloomin’ Brands, Inc. will post 1.8 EPS for the current fiscal year.

Bloomin’ Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Monday, November 25th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 7.62%. The ex-dividend date was Monday, November 25th. Bloomin’ Brands’s dividend payout ratio (DPR) is currently -872.73%.

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.