Bloomin’ Brands (NASDAQ:BLMN) Hits New 1-Year Low – Here’s What Happened

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on BLMN. Citigroup reduced their price target on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. JPMorgan Chase & Co. reduced their target price on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 12th. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Piper Sandler cut their price target on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Finally, The Goldman Sachs Group assumed coverage on shares of Bloomin’ Brands in a report on Thursday, December 5th. They set a “sell” rating and a $13.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $19.09.

Bloomin’ Brands Stock Down 1.5 %

The stock’s fifty day simple moving average is $14.74 and its 200 day simple moving average is $17.03. 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 posted its quarterly earnings data on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the business posted $0.44 EPS. Bloomin’ Brands’s revenue was down 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that Bloomin’ Brands, Inc. will post 1.8 EPS for the current year.

Bloomin’ Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 7.83%. The ex-dividend date was Monday, November 25th. Bloomin’ Brands’s dividend payout ratio (DPR) is presently -872.65%.

Institutional Trading of Bloomin’ Brands

Large investors have recently bought and sold shares of the stock. Erste Asset Management GmbH purchased a new position in shares of Bloomin’ Brands in the third quarter worth $41,325,000. Deprince Race & Zollo Inc. purchased a new position in Bloomin’ Brands in the 2nd quarter worth $28,672,000. Victory Capital Management Inc. raised its stake in 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. Millennium Management LLC lifted its position in Bloomin’ Brands by 2,520.7% during the 2nd quarter. Millennium Management LLC now owns 468,507 shares of the restaurant operator’s stock worth $9,009,000 after acquiring an additional 450,630 shares during the period. Finally, FMR LLC grew its stake in Bloomin’ Brands by 34.8% during the 3rd quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock valued at $22,830,000 after purchasing an additional 356,456 shares during 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.