Bloomin’ Brands (NASDAQ:BLMN) Receives “Equal Weight” Rating from Barclays

Barclays reissued their equal weight rating on shares of Bloomin’ Brands (NASDAQ:BLMN) in a research note released on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $13.00 price target on the restaurant operator’s stock, down from their prior price target of $19.00.

Several other brokerages have also weighed in on BLMN. JPMorgan Chase & Co. cut their price target on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, November 12th. The Goldman Sachs Group started coverage on Bloomin’ Brands in a research report on Thursday, December 5th. They issued a “sell” rating and a $13.00 price objective for the company. Piper Sandler reduced their target price on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. Raymond James cut shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. Finally, StockNews.com upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $16.90.

Bloomin’ Brands Stock Down 5.9 %

Shares of BLMN stock opened at $11.87 on Tuesday. Bloomin’ Brands has a twelve month low of $11.24 and a twelve month high of $30.13. The stock has a market cap of $1.01 billion, a P/E ratio of -107.90 and a beta of 1.97. The stock has a 50 day moving average of $13.42 and a 200 day moving average of $16.04. 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 posted its earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 EPS. As a group, sell-side analysts expect that Bloomin’ Brands will post 1.8 EPS for the current year.

Bloomin’ Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th were issued a $0.24 dividend. The ex-dividend date was Monday, November 25th. This represents a $0.96 dividend on an annualized basis and a yield of 8.09%. Bloomin’ Brands’s payout ratio is -872.73%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Gladius Capital Management LP purchased a new position in Bloomin’ Brands during the third quarter worth approximately $26,000. KBC Group NV raised its holdings in shares of Bloomin’ Brands by 79.1% during the 3rd quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock worth $56,000 after acquiring an additional 1,489 shares during the period. GAMMA Investing LLC boosted its position in shares of Bloomin’ Brands by 606.6% during the 4th quarter. GAMMA Investing LLC now owns 4,890 shares of the restaurant operator’s stock valued at $60,000 after acquiring an additional 4,198 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Bloomin’ Brands in the second quarter valued at about $111,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Bloomin’ Brands in the second quarter valued at about $169,000.

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.