#6 - Bloomin’ Brands (NASDAQ:BLMN)
Bloomin’ Brands Inc. (NASDAQ: BLMN) is another company with a stock that’s trading near its 52-week low. Bloomin’ is the parent company of Outback Steakhouse, Carrabba’s Italian Grill, and Bonefish Grill. It also owns the Fleming’s Prime Steakhouse & Wine Bar chain.
BLMN stock is down 31.7% in 2024, and it’s all about earnings, which are down year-over-year. This could be evidence of a weakening consumer, which could explain, in part, the 5.2% increase in short interest in the stock in May.
However, with the stock trading at about 7.8x forward earnings, it’s worth a look, particularly if the Federal Reserve lowers interest rates, which could positively affect holiday entertainment plans.
One distinguishing feature of BLMN stock among restaurant stocks is that it pays a dividend — and one with a 5.08% yield. While this shouldn’t be a primary reason to own the stock, it is a nice benefit, particularly when shares are trading near their 52-week low at around $18.91.
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.
Read More - Current Price
- $16.52
- Consensus Rating
- Hold
- Ratings Breakdown
- 2 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $22.33 (35.2% Upside)
