Bloomin’ Brands (NASDAQ:BLMN) Trading Down 7.7% on Analyst Downgrade

Bloomin’ Brands, Inc. (NASDAQ:BLMN) shares traded down 7.7% during mid-day trading on Monday after Piper Sandler lowered their price target on the stock from $20.00 to $16.00. Piper Sandler currently has a neutral rating on the stock. Bloomin’ Brands traded as low as $13.91 and last traded at $13.99. 808,755 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 1,481,034 shares. The stock had previously closed at $15.15.

Other equities research analysts also recently issued research reports about the stock. Bank of America reduced their price objective on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Raymond James cut Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday. Deutsche Bank Aktiengesellschaft dropped their price target on Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley dropped their price target 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. Finally, Citigroup cut their price target on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Bloomin’ Brands currently has an average rating of “Hold” and a consensus price target of $20.70.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Gladius Capital Management LP purchased a new stake in shares of Bloomin’ Brands during the 3rd quarter valued at approximately $26,000. Headlands Technologies LLC bought a new position in shares of Bloomin’ Brands in the 1st quarter valued at about $30,000. KBC Group NV boosted its position in shares of 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 acquiring an additional 1,489 shares during the period. EntryPoint Capital LLC boosted 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 acquiring an additional 3,292 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Bloomin’ Brands during the second quarter worth $111,000.

Bloomin’ Brands Stock Down 9.2 %

The company has a quick ratio of 0.26, a current ratio of 0.35 and a debt-to-equity ratio of 3.46. The company’s fifty day simple moving average is $16.42 and its 200 day simple moving average is $18.77. The firm has a market capitalization of $1.17 billion, a PE ratio of -124.44 and a beta of 2.04.

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

Bloomin’ Brands Announces Dividend

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

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.