Bloomin’ Brands (NASDAQ:BLMN) Stock Price Down 4.3% – What’s Next?

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s share price was down 4.3% during mid-day trading on Monday . The stock traded as low as $11.44 and last traded at $11.44. Approximately 184,952 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,544,493 shares. The stock had previously closed at $11.95.

Analyst Ratings Changes

A number of equities research analysts recently commented on BLMN shares. Piper Sandler lowered their price target on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Bank of America lowered their price objective on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Raymond James cut Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. The Goldman Sachs Group began coverage on Bloomin’ Brands in a research report on Thursday, December 5th. They set a “sell” rating and a $13.00 price target for the company. Finally, Barclays cut their price objective on Bloomin’ Brands from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.09.

Bloomin’ Brands Stock Performance

The company has a market capitalization of $957.03 million, a P/E ratio of -102.54 and a beta of 1.95. The company’s 50 day moving average is $14.33 and its 200-day moving average is $16.61. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46.

Bloomin’ Brands (NASDAQ:BLMN) last announced its earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm earned $0.44 earnings per share. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. Equities analysts anticipate that Bloomin’ Brands, Inc. will post 1.8 EPS for the current fiscal year.

Bloomin’ Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 25th were paid 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 dividend yield of 8.51%. Bloomin’ Brands’s dividend payout ratio is currently -872.73%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its holdings in Bloomin’ Brands by 34.8% in the 3rd quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock worth $22,830,000 after acquiring an additional 356,456 shares during the last quarter. Victory Capital Management Inc. raised 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 purchasing an additional 569,855 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Bloomin’ Brands by 58.3% in the third 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 last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Bloomin’ Brands during the second quarter valued at $563,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Bloomin’ Brands by 6.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,255,059 shares of the restaurant operator’s stock valued at $20,746,000 after buying an additional 70,925 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.