Bloomin' Brands (NASDAQ:BLMN) Shares Gap Down After Analyst Downgrade

Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report)'s share price gapped down prior to trading on Tuesday after UBS Group lowered their price target on the stock from $16.00 to $13.00. The stock had previously closed at $12.62, but opened at $12.18. UBS Group currently has a neutral rating on the stock. Bloomin' Brands shares last traded at $12.71, with a volume of 153,785 shares traded.

A number of other equities research analysts also recently weighed in on BLMN. JPMorgan Chase & Co. lowered their price objective on shares of Bloomin' Brands from $19.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, November 12th. Barclays reaffirmed an "equal weight" rating and set a $13.00 target price (down from $19.00) on shares of Bloomin' Brands in a report on Tuesday. Bank of America cut their price target on Bloomin' Brands from $22.00 to $19.00 and set a "neutral" rating on the stock in a report on Tuesday, October 22nd. The Goldman Sachs Group assumed coverage on Bloomin' Brands in a research note on Thursday, December 5th. They set a "sell" rating and a $13.00 price objective for the company. Finally, Piper Sandler dropped their target price on Bloomin' Brands from $20.00 to $16.00 and set a "neutral" rating on the stock in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to MarketBeat.com, Bloomin' Brands has an average rating of "Hold" and a consensus price target of $16.90.

Institutional Investors Weigh In On Bloomin' Brands

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Bloomin' Brands by 34.8% in the 3rd quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator's stock worth $22,830,000 after buying an additional 356,456 shares in the last quarter. Victory Capital Management Inc. raised its position in Bloomin' Brands by 29.6% in the second quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator's stock worth $47,923,000 after acquiring an additional 569,855 shares in the last quarter. Barclays PLC boosted its position in shares of Bloomin' Brands by 29.4% during the 3rd quarter. Barclays PLC now owns 219,080 shares of the restaurant operator's stock valued at $3,621,000 after purchasing an additional 49,723 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Bloomin' Brands by 58.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 691,585 shares of the restaurant operator's stock worth $11,432,000 after purchasing an additional 254,570 shares during the last quarter. Finally, Principal Financial Group Inc. raised 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.

Bloomin' Brands Trading Down 5.9 %

The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -107.90 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. The firm's 50 day moving average is $13.42 and its 200 day moving average is $16.04.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. The company's quarterly revenue was down 5.1% compared to the same quarter last year. Equities analysts forecast that Bloomin' Brands, Inc. will post 1.8 earnings per share for the current year.

Bloomin' Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 25th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 8.09%. The ex-dividend date was Monday, November 25th. Bloomin' Brands's dividend payout ratio (DPR) is currently -872.73%.

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.