Bloomin’ Brands’ (BLMN) Equal Weight Rating Reiterated at Barclays

Barclays reaffirmed their equal weight rating on shares of Bloomin’ Brands (NASDAQ:BLMN) in a research report report published on Tuesday morning, MarketBeat Ratings reports. They currently have a $13.00 target price on the restaurant operator’s stock, down from their previous target price of $19.00.

Other analysts have also recently issued research reports about the stock. StockNews.com raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Raymond James cut shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. Bank of America cut their price target on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Piper Sandler cut their price target on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. cut their price target on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Bloomin’ Brands has an average rating of “Hold” and an average target price of $16.90.

Bloomin’ Brands Stock Performance

NASDAQ:BLMN opened at $11.82 on Tuesday. The firm’s 50-day moving average is $13.22 and its 200-day moving average is $15.96. Bloomin’ Brands has a 52-week low of $11.24 and a 52-week high of $30.13. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -107.44 and a beta of 1.97.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings data on Friday, November 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the firm posted $0.44 EPS. The business’s revenue was down 5.1% compared to the same quarter last year. Equities research analysts anticipate that Bloomin’ Brands will post 1.8 earnings per share for the current year.

Bloomin’ Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 25th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 8.12%. The ex-dividend date of this dividend was Monday, November 25th. Bloomin’ Brands’s dividend payout ratio (DPR) is currently -872.73%.

Institutional Trading of Bloomin’ Brands

A number of hedge funds and other institutional investors have recently modified their holdings of BLMN. Gladius Capital Management LP acquired a new stake in shares of Bloomin’ Brands in the third quarter valued at approximately $26,000. KBC Group NV increased its holdings in shares of 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 in the last quarter. GAMMA Investing LLC increased its holdings in shares of Bloomin’ Brands by 606.6% in the fourth quarter. GAMMA Investing LLC now owns 4,890 shares of the restaurant operator’s stock valued at $60,000 after purchasing an additional 4,198 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Bloomin’ Brands in the second quarter valued at approximately $111,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Bloomin’ Brands in the second quarter valued at approximately $169,000.

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.