Piper Sandler Issues Pessimistic Forecast for Bloomin’ Brands (NASDAQ:BLMN) Stock Price

Bloomin’ Brands (NASDAQ:BLMN) had its price target cut by Piper Sandler from $20.00 to $16.00 in a report published on Monday morning,Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

Other equities research analysts also recently issued research reports about the company. UBS Group lowered their price objective on Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Barclays lowered their price objective on Bloomin’ Brands from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday. Bank of America lowered their price objective on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. StockNews.com raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Citigroup lowered their price target on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.70.

Bloomin’ Brands Stock Performance

NASDAQ BLMN opened at $13.43 on Monday. Bloomin’ Brands has a fifty-two week low of $13.11 and a fifty-two week high of $30.13. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -122.08 and a beta of 2.04. The business has a fifty day moving average of $16.20 and a 200-day moving average of $18.54. The company has a quick ratio of 0.26, a current ratio of 0.31 and a debt-to-equity ratio of 4.46.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $1.03 billion during 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%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 earnings per share. As a group, analysts predict that Bloomin’ Brands will post 1.8 earnings per share for the current fiscal year.

Bloomin’ Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, November 25th will be paid a $0.24 dividend. 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 7.15%. Bloomin’ Brands’s dividend payout ratio (DPR) is currently -872.65%.

Institutional Investors Weigh In On Bloomin’ Brands

Large investors have recently modified their holdings of the stock. Gladius Capital Management LP acquired a new stake in shares of Bloomin’ Brands in the third quarter valued at about $26,000. Headlands Technologies LLC purchased a new position in Bloomin’ Brands in the first quarter valued at about $30,000. KBC Group NV boosted its holdings in 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 purchasing an additional 1,489 shares during the last quarter. 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 purchasing an additional 3,292 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Bloomin’ Brands in the second quarter valued at about $111,000.

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.