Bloomin’ Brands (NASDAQ:BLMN) Sets New 52-Week Low – Here’s Why

Bloomin’ Brands, Inc. (NASDAQ:BLMN) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $11.91 and last traded at $11.97, with a volume of 1801514 shares. The stock had previously closed at $12.60.

Analysts Set New Price Targets

A number of brokerages have weighed in on BLMN. StockNews.com raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Raymond James downgraded Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. Piper Sandler dropped their price objective on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. The Goldman Sachs Group initiated coverage on Bloomin’ Brands in a report on Thursday, December 5th. They issued a “sell” rating and a $13.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their price target on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Bloomin’ Brands currently has a consensus rating of “Hold” and a consensus target price of $19.09.

Bloomin’ Brands Price Performance

The stock has a market capitalization of $1.02 billion, a PE ratio of -108.81 and a beta of 1.95. 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’s fifty day simple moving average is $14.48 and its two-hundred day simple moving average is $16.76.

Bloomin’ Brands (NASDAQ:BLMN) last issued 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. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. As a group, sell-side analysts predict that Bloomin’ Brands, Inc. will post 1.8 EPS for the current year.

Bloomin’ Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.96 dividend on an annualized basis and a yield of 8.02%. Bloomin’ Brands’s dividend payout ratio (DPR) is -872.73%.

Institutional Trading of Bloomin’ Brands

Hedge funds and other institutional investors have recently bought and sold shares of the company. Gladius Capital Management LP purchased a new position in shares of Bloomin’ Brands during the 3rd quarter worth $26,000. KBC Group NV lifted its holdings in shares of Bloomin’ Brands by 79.1% during the 3rd quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock worth $56,000 after acquiring an additional 1,489 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Bloomin’ Brands during the 2nd quarter worth about $111,000. Point72 DIFC Ltd acquired a new stake in shares of Bloomin’ Brands in the second quarter worth approximately $169,000. Finally, Olympiad Research LP purchased a new stake in Bloomin’ Brands in the third quarter valued at approximately $202,000.

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.