Bloomin’ Brands (NASDAQ:BLMN) Downgraded by Raymond James to Market Perform

Raymond James cut shares of Bloomin’ Brands (NASDAQ:BLMN) from an outperform rating to a market perform rating in a research report released on Monday morning, Marketbeat Ratings reports.

A number of other research firms have also weighed in on BLMN. Citigroup dropped 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 report on Monday, August 19th. BMO Capital Markets decreased their price objective on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. UBS Group decreased their price target on shares of Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Barclays lowered their target price on Bloomin’ Brands from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.70.

Bloomin’ Brands Stock Up 1.5 %

BLMN stock opened at $13.55 on Monday. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.26 and a current ratio of 0.31. Bloomin’ Brands has a fifty-two week low of $13.11 and a fifty-two week high of $30.13. The stock’s 50 day simple moving average is $16.20 and its 200 day simple moving average is $18.54. The company has a market cap of $1.15 billion, a P/E ratio of -123.17 and a beta of 2.04.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share for the quarter, beating 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 business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the firm earned $0.44 EPS. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, research analysts expect that Bloomin’ Brands will post 1.8 earnings per share for the current fiscal year.

Bloomin’ Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 25th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 7.08%. Bloomin’ Brands’s dividend payout ratio is -872.65%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Texas Permanent School Fund Corp boosted its stake in shares of Bloomin’ Brands by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 75,979 shares of the restaurant operator’s stock valued at $2,179,000 after purchasing an additional 1,017 shares in the last quarter. Duality Advisers LP purchased a new stake in Bloomin’ Brands in the 1st quarter worth approximately $225,000. Sei Investments Co. boosted its holdings in Bloomin’ Brands by 6.5% in the first quarter. Sei Investments Co. now owns 200,446 shares of the restaurant operator’s stock valued at $5,749,000 after acquiring an additional 12,192 shares in the last quarter. Headlands Technologies LLC bought a new position in Bloomin’ Brands in the first quarter worth about $30,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Bloomin’ Brands by 3.7% in the 1st quarter. Russell Investments Group Ltd. now owns 267,338 shares of the restaurant operator’s stock valued at $7,667,000 after purchasing an additional 9,658 shares during the period.

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.