Barclays Issues Pessimistic Forecast for Bloomin’ Brands (NASDAQ:BLMN) Stock Price

Bloomin’ Brands (NASDAQ:BLMN) had its price objective reduced by Barclays from $20.00 to $19.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the restaurant operator’s stock.

A number of other research firms have also recently commented on BLMN. Morgan Stanley lowered their price target on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft reduced 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 note on Wednesday, August 7th. Raymond James lowered shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Monday. BMO Capital Markets reduced their price target on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. Finally, UBS Group reduced their price target 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. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.70.

Bloomin’ Brands Price Performance

Bloomin’ Brands stock opened at $13.76 on Monday. Bloomin’ Brands has a 52 week low of $13.63 and a 52 week high of $30.13. The company’s 50 day moving average price is $16.42 and its two-hundred day moving average price is $18.77. The company has a quick ratio of 0.26, a current ratio of 0.35 and a debt-to-equity ratio of 3.46. The stock 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 posted its earnings results on Friday, November 8th. The restaurant operator reported $0.21 EPS 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 firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the firm earned $0.44 EPS. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities analysts predict that Bloomin’ Brands will post 1.77 earnings per share for the current year.

Bloomin’ Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 6.98%. The ex-dividend date of this dividend is Monday, November 25th. Bloomin’ Brands’s dividend payout ratio is presently -872.65%.

Hedge Funds Weigh In On Bloomin’ Brands

Several hedge funds and other institutional investors have recently modified their holdings of the company. SummerHaven Investment Management LLC raised its stake in shares of Bloomin’ Brands by 2.6% during the second quarter. SummerHaven Investment Management LLC now owns 27,857 shares of the restaurant operator’s stock valued at $536,000 after acquiring an additional 718 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in shares of Bloomin’ Brands by 6.6% during the third quarter. Verdence Capital Advisors LLC now owns 12,676 shares of the restaurant operator’s stock valued at $210,000 after acquiring an additional 780 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in shares of Bloomin’ Brands by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 75,979 shares of the restaurant operator’s stock valued at $2,179,000 after acquiring an additional 1,017 shares during the last quarter. Headlands Technologies LLC bought a new position in Bloomin’ Brands in the first quarter worth about $30,000. Finally, Hsbc Holdings PLC raised its stake in Bloomin’ Brands by 8.7% in the second quarter. Hsbc Holdings PLC now owns 13,567 shares of the restaurant operator’s stock worth $258,000 after buying an additional 1,083 shares in the last quarter.

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.