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 report issued on Monday morning, MarketBeat.com reports.

A number of other analysts have also issued reports on BLMN. UBS Group lowered their target price on Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Bank of America lowered their price objective on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Citigroup dropped their target price 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. Morgan Stanley reduced their price target on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Finally, BMO Capital Markets dropped 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 report on Wednesday, August 7th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Bloomin’ Brands presently has an average rating of “Hold” and a consensus target price of $20.70.

Bloomin’ Brands Price Performance

NASDAQ BLMN opened at $13.76 on Monday. Bloomin’ Brands has a 1 year low of $13.63 and a 1 year high of $30.13. The company has a fifty day simple moving average of $16.42 and a 200 day simple moving average of $18.77. The company has a current ratio of 0.35, a quick ratio of 0.26 and a debt-to-equity ratio of 3.46. The company has a market cap of $1.17 billion, a P/E ratio of -124.44 and a beta of 2.04.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Bloomin’ Brands had a net margin of 0.70% and a return on equity of 61.90%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 earnings per share. On average, sell-side analysts predict that Bloomin’ Brands will post 1.77 EPS for the current year.

Bloomin’ Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, November 25th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, November 25th. This represents a $0.96 annualized dividend and a dividend yield of 6.98%. 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 bought a new position in shares of Bloomin’ Brands during the 3rd quarter worth approximately $26,000. Headlands Technologies LLC acquired a new position in Bloomin’ Brands during the first quarter worth $30,000. KBC Group NV lifted its holdings in shares of Bloomin’ Brands by 79.1% during the third quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock valued at $56,000 after acquiring an additional 1,489 shares during the period. EntryPoint Capital LLC boosted its stake in shares of Bloomin’ Brands by 6,454.9% in the 1st 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 in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Bloomin’ Brands in the 2nd quarter worth about $111,000.

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.