Bloomin’ Brands, Inc. (NASDAQ:BLMN) Receives $19.09 Average Target Price from Brokerages

Bloomin’ Brands, Inc. (NASDAQ:BLMN) has been assigned a consensus rating of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $18.00.

A number of equities analysts have issued reports on BLMN shares. Piper Sandler decreased their price objective on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Bank of America lowered their price target on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Raymond James lowered shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group began coverage on Bloomin’ Brands in a research note on Thursday, December 5th. They issued a “sell” rating and a $13.00 price target on the stock.

Bloomin’ Brands Stock Up 1.8 %

Shares of NASDAQ BLMN opened at $12.18 on Thursday. The firm has a fifty day simple moving average of $13.50 and a two-hundred day simple moving average of $16.13. The firm has a market capitalization of $1.03 billion, a PE ratio of -110.72 and a beta of 1.97. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46. Bloomin’ Brands has a 12 month low of $11.24 and a 12 month high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings data on Friday, November 8th. The restaurant operator reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the firm posted $0.44 EPS. The business’s revenue was down 5.1% on a year-over-year basis. Equities analysts expect that Bloomin’ Brands will post 1.8 earnings per share for the current year.

Bloomin’ Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors 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 annualized dividend and a yield of 7.88%. Bloomin’ Brands’s payout ratio is -872.73%.

Institutional Investors Weigh In On Bloomin’ Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Bloomin’ Brands by 0.7% in the 2nd 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 during the period. Principal Financial Group Inc. boosted its stake in shares of Bloomin’ Brands by 6.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock worth $41,806,000 after acquiring an additional 147,895 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of Bloomin’ Brands during the 3rd quarter valued at $41,325,000. Victory Capital Management Inc. increased 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 worth $47,923,000 after purchasing an additional 569,855 shares in the last quarter. Finally, Deprince Race & Zollo Inc. bought a new position in Bloomin’ Brands in the 2nd quarter worth $28,672,000.

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.