Bloomin' Brands (NASDAQ:BLMN) Hits New 52-Week Low After Analyst Downgrade

Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report) shares reached a new 52-week low on Wednesday after UBS Group lowered their price target on the stock from $16.00 to $13.00. UBS Group currently has a neutral rating on the stock. Bloomin' Brands traded as low as $11.24 and last traded at $11.42, with a volume of 129665 shares traded. The stock had previously closed at $11.87.

Other research analysts also recently issued research reports about the stock. Piper Sandler reduced their price target on shares of Bloomin' Brands from $20.00 to $16.00 and set a "neutral" rating on the stock in a research report on Monday, November 11th. Raymond James lowered shares of Bloomin' Brands from an "outperform" rating to a "market perform" rating in a report on Monday, November 11th. JPMorgan Chase & Co. reduced their price objective on Bloomin' Brands from $19.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, November 12th. The Goldman Sachs Group started coverage on Bloomin' Brands in a research report on Thursday, December 5th. They set a "sell" rating and a $13.00 target price for the company. Finally, StockNews.com upgraded shares of Bloomin' Brands from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $16.90.

Institutional Investors Weigh In On Bloomin' Brands

Hedge funds have recently modified their holdings of the business. Rhumbline Advisers boosted its stake in Bloomin' Brands by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 256,123 shares of the restaurant operator's stock worth $4,925,000 after purchasing an additional 2,127 shares during the period. Victory Capital Management Inc. raised its position in 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 last quarter. Choreo LLC acquired a new stake in Bloomin' Brands in the 2nd quarter valued at approximately $307,000. Headlands Technologies LLC lifted its stake in Bloomin' Brands by 1,693.0% in the 2nd quarter. Headlands Technologies LLC now owns 18,862 shares of the restaurant operator's stock valued at $363,000 after acquiring an additional 17,810 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Bloomin' Brands by 4.8% during the 2nd quarter. American Century Companies Inc. now owns 219,002 shares of the restaurant operator's stock worth $4,211,000 after acquiring an additional 9,988 shares in the last quarter.

Bloomin' Brands Stock Down 0.4 %

The stock's fifty day moving average price is $13.32 and its 200-day moving average price is $15.99. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of -107.44 and a beta of 1.97. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 EPS 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 analysts' expectations of $1.04 billion. Bloomin' Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. The company's revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 EPS. On average, sell-side analysts predict that Bloomin' Brands, Inc. will post 1.8 earnings per share for the current fiscal year.

Bloomin' Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Monday, November 25th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.96 annualized dividend and a dividend yield of 8.12%. Bloomin' Brands's dividend payout ratio is presently -872.73%.

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.