Bloomin’ Brands (NASDAQ:BLMN) Price Target Cut to $22.00 by Analysts at Barclays

Bloomin’ Brands (NASDAQ:BLMN) had its price objective trimmed by Barclays from $30.00 to $22.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the restaurant operator’s stock.

A number of other brokerages have also recently issued reports on BLMN. BMO Capital Markets lowered their target price on Bloomin’ Brands from $27.00 to $20.00 and set a market perform rating for the company in a report on Wednesday. JPMorgan Chase & Co. reduced their price target on Bloomin’ Brands from $26.00 to $24.00 and set a neutral rating on the stock in a research report on Tuesday, May 28th. UBS Group reduced their price target on Bloomin’ Brands from $30.00 to $26.00 and set a neutral rating on the stock in a research report on Wednesday, May 8th. Finally, Morgan Stanley reduced their price target on Bloomin’ Brands from $26.00 to $22.00 and set an equal weight rating on the stock in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bloomin’ Brands presently has a consensus rating of Hold and an average target price of $23.33.

Bloomin’ Brands Price Performance

BLMN traded down $0.34 on Wednesday, reaching $15.63. The stock had a trading volume of 1,774,694 shares, compared to its average volume of 1,492,658. Bloomin’ Brands has a fifty-two week low of $15.44 and a fifty-two week high of $30.13. The firm has a 50-day moving average of $18.96 and a 200-day moving average of $23.79. The company has a current ratio of 0.33, a quick ratio of 0.26 and a debt-to-equity ratio of 3.12. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 24.42 and a beta of 2.04.

Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Tuesday, August 6th. The restaurant operator reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.07). Bloomin’ Brands had a return on equity of 65.73% and a net margin of 1.56%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company earned $0.74 EPS. Bloomin’ Brands’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Bloomin’ Brands will post 2.37 EPS for the current year.

Bloomin’ Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, August 20th. This represents a $0.96 annualized dividend and a dividend yield of 6.14%. Bloomin’ Brands’s payout ratio is 150.00%.

Institutional Investors Weigh In On Bloomin’ Brands

Institutional investors and hedge funds have recently made changes to their positions in the business. Capstone Investment Advisors LLC bought a new stake in shares of Bloomin’ Brands during the 1st quarter valued at about $2,042,000. Annex Advisory Services LLC boosted its holdings in Bloomin’ Brands by 27.7% in the first quarter. Annex Advisory Services LLC now owns 295,261 shares of the restaurant operator’s stock worth $8,468,000 after acquiring an additional 64,006 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Bloomin’ Brands by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,509,269 shares of the restaurant operator’s stock worth $70,637,000 after acquiring an additional 104,368 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in Bloomin’ Brands by 34.9% in the fourth quarter. First Eagle Investment Management LLC now owns 163,419 shares of the restaurant operator’s stock worth $4,600,000 after acquiring an additional 42,315 shares in the last quarter. Finally, Lighthouse Investment Partners LLC bought a new position in Bloomin’ Brands in the fourth quarter worth approximately $4,222,000.

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.