Bloomin' Brands (NASDAQ:BLMN) Stock Price Down 7.7% Following Analyst Downgrade

Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report) fell 7.7% on Monday after Piper Sandler lowered their price target on the stock from $20.00 to $16.00. Piper Sandler currently has a neutral rating on the stock. Bloomin' Brands traded as low as $13.91 and last traded at $13.99. 808,755 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 1,481,034 shares. The stock had previously closed at $15.15.

A number of other equities research analysts also recently issued reports on BLMN. Citigroup lowered their price target on Bloomin' Brands from $22.00 to $20.00 and set a "neutral" rating for the company in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their price target on Bloomin' Brands from $26.00 to $19.00 and set a "hold" rating for the company in a research report on Wednesday, August 7th. Morgan Stanley lowered their price target on Bloomin' Brands from $26.00 to $22.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 16th. UBS Group decreased their target price on Bloomin' Brands from $26.00 to $18.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. Finally, BMO Capital Markets decreased their target price on Bloomin' Brands from $27.00 to $20.00 and set a "market perform" rating for the company 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 MarketBeat, Bloomin' Brands has a consensus rating of "Hold" and a consensus target price of $20.70.

Hedge Funds Weigh In On Bloomin' Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLMN. SG Americas Securities LLC boosted its stake in Bloomin' Brands by 219.2% during the 2nd quarter. SG Americas Securities LLC now owns 165,705 shares of the restaurant operator's stock valued at $3,187,000 after purchasing an additional 113,798 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Bloomin' Brands by 29.6% during 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 purchasing an additional 569,855 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Bloomin' Brands during the 2nd quarter valued at $563,000. Edgestream Partners L.P. bought a new position in Bloomin' Brands during the 2nd quarter valued at $711,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Bloomin' Brands during the 1st quarter worth $1,285,000.

Bloomin' Brands Trading Down 9.2 %

The firm has a market capitalization of $1.17 billion, a P/E ratio of -124.44 and a beta of 2.04. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.26 and a current ratio of 0.35. The firm has a 50 day moving average price of $16.42 and a two-hundred day moving average price of $18.77.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The restaurant operator reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. Bloomin' Brands had a return on equity of 61.90% and a net margin of 0.70%. The company's revenue was down 5.1% compared to the same quarter last year. During the same period last year, the company posted $0.44 EPS. On average, equities research analysts expect that Bloomin' Brands, Inc. will post 1.77 EPS for the current fiscal year.

Bloomin' Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 25th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 6.98%. The ex-dividend date of this dividend is Monday, November 25th. Bloomin' Brands's dividend payout ratio (DPR) is presently -872.65%.

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.