Bloomin’ Brands (NASDAQ:BLMN) Coverage Initiated at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Bloomin’ Brands (NASDAQ:BLMN) in a research note published on Thursday morning, Marketbeat Ratings reports. The firm issued a sell rating and a $13.00 target price on the restaurant operator’s stock.

A number of other equities analysts have also recently issued reports on BLMN. Piper Sandler reduced their target price on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Bank of America reduced their target price on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. UBS Group cut their price objective on Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Raymond James cut Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. Finally, Citigroup cut their price objective on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $19.09.

Bloomin’ Brands Price Performance

Shares of BLMN opened at $12.85 on Thursday. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46. Bloomin’ Brands has a 1 year low of $12.26 and a 1 year high of $30.13. The stock has a market cap of $1.09 billion, a P/E ratio of -116.81 and a beta of 1.95. The stock’s 50-day moving average price is $15.10 and its two-hundred day moving average price is $17.35.

Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business earned $0.44 earnings per share. The company’s revenue was down 5.1% compared to the same quarter last year. On average, equities analysts predict that Bloomin’ Brands will post 1.8 earnings per share for the current year.

Bloomin’ Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 7.47%. The ex-dividend date is Monday, November 25th. Bloomin’ Brands’s payout ratio is -872.65%.

Institutional Investors Weigh In On Bloomin’ Brands

Several institutional investors have recently bought and sold shares of BLMN. Cetera Advisors LLC bought a new stake in Bloomin’ Brands in the 1st quarter valued at approximately $867,000. SG Americas Securities LLC lifted its stake in Bloomin’ Brands by 219.2% in the 2nd quarter. SG Americas Securities LLC now owns 165,705 shares of the restaurant operator’s stock valued at $3,187,000 after acquiring an additional 113,798 shares in the last quarter. Xcel Wealth Management LLC lifted its stake in Bloomin’ Brands by 27.0% in the 2nd quarter. Xcel Wealth Management LLC now owns 207,853 shares of the restaurant operator’s stock valued at $3,997,000 after acquiring an additional 44,187 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in Bloomin’ Brands by 2.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 27,857 shares of the restaurant operator’s stock valued at $536,000 after acquiring an additional 718 shares in the last quarter. Finally, Easterly Investment Partners LLC increased its position in shares of Bloomin’ Brands by 4.2% during the 2nd quarter. Easterly Investment Partners LLC now owns 588,864 shares of the restaurant operator’s stock worth $11,324,000 after purchasing an additional 23,466 shares during the last quarter.

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.