Bloomin’ Brands (NASDAQ:BLMN) Given New $14.00 Price Target at JPMorgan Chase & Co.

Bloomin’ Brands (NASDAQ:BLMN) had its price target cut by JPMorgan Chase & Co. from $19.00 to $14.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

Several other research firms have also recently weighed in on BLMN. UBS Group cut their price objective 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. Barclays cut their price objective on shares of Bloomin’ Brands from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley cut their price objective on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Finally, Raymond James downgraded Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday. Ten investment 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.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.70.

Bloomin’ Brands Trading Down 2.9 %

Shares of Bloomin’ Brands stock opened at $13.35 on Tuesday. The firm has a 50-day moving average of $16.35 and a 200-day moving average of $18.67. The stock has a market cap of $1.13 billion, a PE ratio of -121.36 and a beta of 2.04. Bloomin’ Brands has a 52-week low of $13.23 and a 52-week high of $30.13. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.26 and a current ratio of 0.35.

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

Bloomin’ Brands Announces Dividend

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 paid a dividend of $0.24 per share. The ex-dividend date is Monday, November 25th. This represents a $0.96 annualized dividend and a yield of 7.19%. Bloomin’ Brands’s dividend payout ratio is currently -872.73%.

Institutional Investors Weigh In On Bloomin’ Brands

Several large investors have recently added to or reduced their stakes in BLMN. Gladius Capital Management LP purchased a new stake in shares of Bloomin’ Brands during the 3rd quarter valued at $26,000. Headlands Technologies LLC purchased a new position in shares of Bloomin’ Brands in the first quarter worth about $30,000. KBC Group NV lifted its stake in shares of Bloomin’ Brands by 79.1% in the 3rd 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 last quarter. EntryPoint Capital LLC boosted its holdings in Bloomin’ Brands by 6,454.9% during the 1st quarter. EntryPoint Capital LLC now owns 3,343 shares of the restaurant operator’s stock valued at $96,000 after acquiring an additional 3,292 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Bloomin’ Brands during the 2nd quarter worth approximately $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.