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

Bloomin’ Brands (NASDAQ:BLMN) had its target price trimmed by Barclays from $20.00 to $19.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an overweight rating on the restaurant operator’s stock.

BLMN has been the subject of several other reports. UBS Group dropped their target price on shares of Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. StockNews.com raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Raymond James downgraded shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Monday. BMO Capital Markets cut their price objective on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Bloomin’ Brands has a consensus rating of “Hold” and an average target price of $19.70.

Bloomin’ Brands Stock Performance

Shares of BLMN stock opened at $13.43 on Monday. The firm has a 50-day moving average of $16.20 and a 200-day moving average of $18.54. The company has a market cap of $1.14 billion, a P/E ratio of -122.08 and a beta of 2.04. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.26. Bloomin’ Brands has a one year low of $13.11 and a one year high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last posted 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. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 earnings per share. Equities research analysts forecast that Bloomin’ Brands will post 1.8 EPS for the current fiscal year.

Bloomin’ Brands Announces Dividend

The firm also recently disclosed 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. This represents a $0.96 annualized dividend and a dividend yield of 7.15%. The ex-dividend date of this dividend is Monday, November 25th. Bloomin’ Brands’s dividend payout ratio (DPR) is presently -872.65%.

Institutional Investors Weigh In On Bloomin’ Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLMN. Texas Permanent School Fund Corp increased its holdings in 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 worth $2,179,000 after acquiring 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. increased its holdings in Bloomin’ Brands by 6.5% in the 1st quarter. Sei Investments Co. now owns 200,446 shares of the restaurant operator’s stock worth $5,749,000 after acquiring an additional 12,192 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Bloomin’ Brands in the 1st quarter worth approximately $30,000. Finally, Russell Investments Group Ltd. increased its holdings in Bloomin’ Brands by 3.7% in the 1st quarter. Russell Investments Group Ltd. now owns 267,338 shares of the restaurant operator’s stock worth $7,667,000 after acquiring an additional 9,658 shares in 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.