Bloomin’ Brands (NASDAQ:BLMN) Downgraded to Market Perform Rating by Raymond James

Raymond James lowered shares of Bloomin’ Brands (NASDAQ:BLMN) from an outperform rating to a market perform rating in a research note published on Monday, Marketbeat Ratings reports.

Other equities analysts have also issued reports about the company. Morgan Stanley decreased their target price on Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. BMO Capital Markets reduced their price objective on Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 7th. Bank of America reduced their price objective on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $19.70.

Bloomin’ Brands Price Performance

Bloomin’ Brands stock opened at $13.43 on Monday. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -122.08 and a beta of 2.04. The company has a quick ratio of 0.26, a current ratio of 0.31 and a debt-to-equity ratio of 4.46. The business has a 50-day simple moving average of $16.20 and a 200 day simple moving average of $18.54. Bloomin’ Brands has a 52 week low of $13.11 and a 52 week high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last announced its earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The business 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 company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS. On average, research analysts forecast that Bloomin’ Brands will post 1.8 earnings per share for the current fiscal year.

Bloomin’ Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 7.15%. The ex-dividend date of this dividend is Monday, November 25th. Bloomin’ Brands’s dividend payout ratio (DPR) is currently -872.65%.

Institutional Investors Weigh In On Bloomin’ Brands

Institutional investors and hedge funds have recently bought and sold shares of the business. 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 valued at $49,105,000 after purchasing an additional 16,878 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Bloomin’ Brands by 6.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock worth $41,806,000 after purchasing an additional 147,895 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of Bloomin’ Brands in the 3rd quarter worth $41,325,000. Victory Capital Management Inc. increased its holdings 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 stake in shares of Bloomin’ Brands in the 2nd quarter worth $28,672,000.

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.