Bloomin’ Brands, Inc. (NASDAQ:BLMN) Plans $0.15 Quarterly Dividend

Bloomin’ Brands, Inc. (NASDAQ:BLMN) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Stockholders of record on Tuesday, March 11th will be paid a dividend of 0.15 per share by the restaurant operator on Wednesday, March 26th. This represents a $0.60 annualized dividend and a dividend yield of 6.00%. The ex-dividend date of this dividend is Tuesday, March 11th.

Bloomin’ Brands has a dividend payout ratio of 47.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bloomin’ Brands to earn $1.76 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 54.5%.

Bloomin’ Brands Trading Up 1.0 %

Shares of Bloomin’ Brands stock traded up $0.10 on Thursday, hitting $10.00. 4,194,994 shares of the company’s stock traded hands, compared to its average volume of 2,001,197. Bloomin’ Brands has a one year low of $9.57 and a one year high of $30.13. 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 company has a fifty day moving average of $11.94 and a two-hundred day moving average of $14.31. The company has a market capitalization of $848.01 million, a price-to-earnings ratio of -90.86 and a beta of 1.97.

Wall Street Analysts Forecast Growth

BLMN has been the topic of several research reports. Piper Sandler lowered their target price on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Barclays set a $11.00 target price on Bloomin’ Brands and gave the stock an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, November 12th. The Goldman Sachs Group cut their price objective on Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating for the company in a report on Thursday. Finally, StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.00.

About Bloomin’ Brands

Bloomin’ Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.