Piper Sandler Has Lowered Expectations for Bloomin’ Brands (NASDAQ:BLMN) Stock Price

Bloomin’ Brands (NASDAQ:BLMN) had its price objective lowered by Piper Sandler from $20.00 to $16.00 in a research report released on Monday,Benzinga reports. Piper Sandler currently has a neutral rating on the restaurant operator’s stock.

Several other equities research analysts also recently issued reports on the stock. Raymond James downgraded shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday. Barclays dropped their price objective on shares of Bloomin’ Brands from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday. Citigroup reduced their target price on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, August 19th. UBS Group lowered their price target on shares of Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Bloomin’ Brands has an average rating of “Hold” and a consensus price target of $19.70.

Bloomin’ Brands Stock Performance

Shares of BLMN stock opened at $13.55 on Monday. The firm has a market cap of $1.15 billion, a PE ratio of -123.17 and a beta of 2.04. Bloomin’ Brands has a 12 month low of $13.11 and a 12 month high of $30.13. The company’s fifty day simple moving average is $16.20 and its 200-day simple moving average is $18.54. The company has a quick ratio of 0.26, a current ratio of 0.31 and a debt-to-equity ratio of 4.46.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings results 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 firm had revenue of $1.03 billion for 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 business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.44 EPS. Equities research analysts expect that Bloomin’ Brands will post 1.8 EPS for the current fiscal year.

Bloomin’ Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, November 25th. This represents a $0.96 dividend on an annualized basis and a yield of 7.08%. Bloomin’ Brands’s dividend payout ratio (DPR) is currently -872.65%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BLMN. Dimensional Fund Advisors LP increased its holdings in Bloomin’ Brands by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,553,719 shares of the restaurant operator’s stock worth $49,105,000 after purchasing an additional 16,878 shares in the last quarter. Principal Financial Group Inc. increased its stake in 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 purchasing an additional 147,895 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Bloomin’ Brands by 29.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator’s stock valued at $47,923,000 after buying an additional 569,855 shares during the period. Deprince Race & Zollo Inc. acquired a new position in Bloomin’ Brands during the 2nd quarter worth approximately $28,672,000. Finally, Jennison Associates LLC increased its holdings in shares of Bloomin’ Brands by 4.4% during the third quarter. Jennison Associates LLC now owns 1,411,200 shares of the restaurant operator’s stock valued at $23,327,000 after acquiring an additional 59,418 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.