JPMorgan Chase & Co. Lowers Bloomin' Brands (NASDAQ:BLMN) Price Target to $14.00

Bloomin' Brands (NASDAQ:BLMN - Free Report) had its price target decreased by JPMorgan Chase & Co. from $19.00 to $14.00 in a research note released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the restaurant operator's stock.

BLMN has been the topic of a number of other research reports. Bank of America decreased their price objective on Bloomin' Brands from $22.00 to $19.00 and set a "neutral" rating on the stock in a report on Tuesday, October 22nd. Citigroup dropped their price objective on shares of Bloomin' Brands from $22.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, August 19th. StockNews.com raised shares of Bloomin' Brands from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. Piper Sandler dropped their price target on Bloomin' Brands from $20.00 to $16.00 and set a "neutral" rating for the company in a research report on Monday. Finally, 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. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Bloomin' Brands presently has a consensus rating of "Hold" and an average target price of $19.70.

Bloomin' Brands Price Performance

Shares of BLMN stock traded down $0.41 during mid-day trading on Tuesday, hitting $13.35. 4,175,803 shares of the stock were exchanged, compared to its average volume of 1,510,893. Bloomin' Brands has a 52-week low of $13.23 and a 52-week high of $30.13. The company has a quick ratio of 0.26, a current ratio of 0.35 and a debt-to-equity ratio of 3.46. The company has a market cap of $1.13 billion, a PE ratio of -123.17 and a beta of 2.04. The firm has a fifty day moving average of $16.35 and a 200 day moving average of $18.67.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last posted 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. The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.04 billion. Bloomin' Brands had a return on equity of 61.90% and a net margin of 0.70%. The business's revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 earnings per share. Research analysts anticipate that Bloomin' Brands will post 1.77 earnings per share for the current year.

Bloomin' Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 7.19%. The ex-dividend date is Monday, November 25th. Bloomin' Brands's dividend payout ratio (DPR) is presently -872.65%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Texas Permanent School Fund Corp grew its holdings in Bloomin' Brands by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 75,979 shares of the restaurant operator's stock worth $2,179,000 after acquiring an additional 1,017 shares during the period. Sei Investments Co. boosted its holdings in Bloomin' Brands by 6.5% during the first quarter. Sei Investments Co. now owns 200,446 shares of the restaurant operator's stock worth $5,749,000 after buying an additional 12,192 shares in the last quarter. Headlands Technologies LLC acquired a new position in Bloomin' Brands during the first quarter worth about $30,000. Russell Investments Group Ltd. increased its holdings in Bloomin' Brands by 3.7% in the first quarter. Russell Investments Group Ltd. now owns 267,338 shares of the restaurant operator's stock valued at $7,667,000 after buying an additional 9,658 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Bloomin' Brands by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 17,657 shares of the restaurant operator's stock valued at $506,000 after acquiring an additional 1,216 shares during the period.

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.