Bloomin’ Brands (NASDAQ:BLMN) Price Target Cut to $30.00

Bloomin’ Brands (NASDAQ:BLMN) had its price target cut by Barclays from $32.00 to $30.00 in a research note released on Wednesday, Benzinga reports. They currently have an overweight rating on the restaurant operator’s stock.

Several other brokerages have also recently issued reports on BLMN. BMO Capital Markets dropped their price objective on shares of Bloomin’ Brands from $29.00 to $27.00 and set a market perform rating for the company in a research note on Wednesday. UBS Group reduced their price objective on Bloomin’ Brands from $30.00 to $26.00 and set a neutral rating on the stock in a research report on Wednesday. Citigroup upped their target price on Bloomin’ Brands from $25.00 to $29.00 and gave the company a neutral rating in a report on Thursday, February 15th. Finally, JPMorgan Chase & Co. lowered Bloomin’ Brands from an overweight rating to a neutral rating and set a $26.00 price target on the stock. in a report on Tuesday, January 23rd. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $27.50.

Bloomin’ Brands Price Performance

Shares of Bloomin’ Brands stock opened at $23.89 on Wednesday. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.34 and a quick ratio of 0.27. The business has a 50 day simple moving average of $27.46 and a two-hundred day simple moving average of $26.18. The stock has a market capitalization of $2.08 billion, a P/E ratio of 9.44, a PEG ratio of 9.85 and a beta of 2.02. Bloomin’ Brands has a 12 month low of $22.03 and a 12 month high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Tuesday, May 7th. The restaurant operator reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.05). Bloomin’ Brands had a net margin of 5.30% and a return on equity of 73.67%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. As a group, analysts predict that Bloomin’ Brands will post 2.55 EPS for the current fiscal year.

Bloomin’ Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $0.96 annualized dividend and a yield of 4.02%. Bloomin’ Brands’s dividend payout ratio (DPR) is currently 37.94%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Foundry Partners LLC boosted its position in shares of Bloomin’ Brands by 32.7% during the 4th quarter. Foundry Partners LLC now owns 200,256 shares of the restaurant operator’s stock worth $5,637,000 after purchasing an additional 49,398 shares during the period. Vanguard Group Inc. boosted its position in shares of Bloomin’ Brands by 1.4% during the third quarter. Vanguard Group Inc. now owns 12,527,385 shares of the restaurant operator’s stock worth $308,048,000 after buying an additional 175,493 shares during the period. Jump Financial LLC acquired a new stake in shares of Bloomin’ Brands in the third quarter valued at $759,000. 13D Management LLC purchased a new stake in shares of Bloomin’ Brands in the 3rd quarter valued at $2,537,000. Finally, FMR LLC lifted its stake in Bloomin’ Brands by 364.4% during the 3rd quarter. FMR LLC now owns 494,338 shares of the restaurant operator’s stock worth $12,156,000 after acquiring an additional 387,896 shares in the last quarter.

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.