Bloomin’ Brands (NASDAQ:BLMN) Reaches New 12-Month Low – Should You Sell?

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $11.03 and last traded at $11.22, with a volume of 1679242 shares. The stock had previously closed at $11.45.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Bank of America dropped their target price on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Piper Sandler cut their price objective on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Barclays reiterated an “equal weight” rating and issued a $13.00 target price (down previously from $19.00) on shares of Bloomin’ Brands in a report on Tuesday, January 7th. Raymond James cut shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. Finally, StockNews.com upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company. Based on data from MarketBeat, Bloomin’ Brands presently has an average rating of “Hold” and an average price target of $16.90.

Bloomin’ Brands Trading Down 2.0 %

The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22. The firm has a fifty day simple moving average of $12.94 and a two-hundred day simple moving average of $15.79. The firm has a market capitalization of $951.94 million, a P/E ratio of -101.99 and a beta of 1.97.

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

Bloomin’ Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Monday, November 25th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 8.56%. The ex-dividend date of this dividend was Monday, November 25th. Bloomin’ Brands’s dividend payout ratio (DPR) is presently -872.73%.

Institutional Investors Weigh In On Bloomin’ Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC grew its position in shares of Bloomin’ Brands by 34.8% in the third quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock valued at $22,830,000 after purchasing an additional 356,456 shares in the last quarter. Barclays PLC increased its position in shares of Bloomin’ Brands by 29.4% during the third quarter. Barclays PLC now owns 219,080 shares of the restaurant operator’s stock valued at $3,621,000 after buying an additional 49,723 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Bloomin’ Brands by 58.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 691,585 shares of the restaurant operator’s stock worth $11,432,000 after buying an additional 254,570 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Bloomin’ Brands by 6.2% in the third quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock valued at $41,806,000 after acquiring an additional 147,895 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Bloomin’ Brands by 6.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,255,059 shares of the restaurant operator’s stock valued at $20,746,000 after acquiring an additional 70,925 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.