Brokerages Set Bloomin' Brands, Inc. (NASDAQ:BLMN) PT at $22.33

Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report) has been assigned an average rating of "Hold" from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $22.33.

BLMN has been the subject of several research reports. Citigroup decreased their target price on 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 cut shares of Bloomin' Brands from a "hold" rating to a "sell" rating in a research note on Friday, August 9th. UBS Group cut their target price on shares of Bloomin' Brands from $26.00 to $18.00 and set a "neutral" rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price target on shares of Bloomin' Brands from $26.00 to $24.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 28th. Finally, Barclays dropped their price target on Bloomin' Brands from $30.00 to $22.00 and set an "overweight" rating on the stock in a report on Wednesday, August 7th.

Bloomin' Brands Stock Performance

NASDAQ:BLMN traded down $0.13 during mid-day trading on Tuesday, hitting $16.63. The stock had a trading volume of 897,933 shares, compared to its average volume of 1,486,680. The company has a current ratio of 0.35, a quick ratio of 0.26 and a debt-to-equity ratio of 3.46. The company has a 50 day simple moving average of $17.79 and a 200-day simple moving average of $21.54. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 26.44 and a beta of 2.05. Bloomin' Brands has a 52 week low of $15.20 and a 52 week high of $30.13.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last announced its earnings results on Tuesday, August 6th. The restaurant operator reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.07). The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.13 billion. Bloomin' Brands had a net margin of 0.70% and a return on equity of 61.90%. The firm's revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. On average, research analysts expect that Bloomin' Brands will post 2.08 earnings per share for the current fiscal year.

Bloomin' Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 5.77%. The ex-dividend date was Tuesday, August 20th. Bloomin' Brands's payout ratio is presently 150.00%.

Hedge Funds Weigh In On Bloomin' Brands

Several hedge funds have recently bought and sold shares of the business. Deprince Race & Zollo Inc. acquired a new position in Bloomin' Brands during the second quarter valued at approximately $28,672,000. Victory Capital Management Inc. boosted its holdings in shares of 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 worth $47,923,000 after buying an additional 569,855 shares during the period. Millennium Management LLC grew its stake in Bloomin' Brands by 2,520.7% in the 2nd quarter. Millennium Management LLC now owns 468,507 shares of the restaurant operator's stock valued at $9,009,000 after buying an additional 450,630 shares during the last quarter. Norges Bank bought a new position in Bloomin' Brands in the 4th quarter worth $8,313,000. Finally, Systematic Financial Management LP raised its holdings in Bloomin' Brands by 76.5% in the 2nd quarter. Systematic Financial Management LP now owns 544,742 shares of the restaurant operator's stock worth $10,475,000 after acquiring an additional 236,037 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.