Bloomin’ Brands (NASDAQ:BLMN) Stock Price Down 4.3% – Here’s Why

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s stock price traded down 4.3% on Monday . The company traded as low as $11.44 and last traded at $11.44. 184,952 shares traded hands during trading, a decline of 88% from the average session volume of 1,544,493 shares. The stock had previously closed at $11.95.

Wall Street Analysts Forecast Growth

BLMN has been the subject of several recent analyst reports. Raymond James cut shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. StockNews.com raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Bank of America dropped their target price on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. The Goldman Sachs Group started coverage on shares of Bloomin’ Brands in a report on Thursday, December 5th. They set a “sell” rating and a $13.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their target price on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.09.

Bloomin’ Brands Stock Up 2.7 %

The company has a fifty day moving average price of $14.25 and a 200 day moving average price of $16.55. The company has a market cap of $998.60 million, a PE ratio of -106.99 and a beta of 1.95. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $1.04 billion. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the business earned $0.44 earnings per share. As a group, analysts anticipate that Bloomin’ Brands, Inc. will post 1.8 EPS for the current year.

Bloomin’ Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th were given a $0.24 dividend. The ex-dividend date was Monday, November 25th. This represents a $0.96 annualized dividend and a yield of 8.16%. Bloomin’ Brands’s payout ratio is currently -872.73%.

Institutional Investors Weigh In On Bloomin’ Brands

Several institutional investors have recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC increased its stake in shares of Bloomin’ Brands by 6.6% during the third quarter. Verdence Capital Advisors LLC now owns 12,676 shares of the restaurant operator’s stock valued at $210,000 after buying an additional 780 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Bloomin’ Brands by 8.7% during the 2nd quarter. Hsbc Holdings PLC now owns 13,567 shares of the restaurant operator’s stock worth $258,000 after acquiring an additional 1,083 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Bloomin’ Brands by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,204 shares of the restaurant operator’s stock valued at $331,000 after purchasing an additional 1,354 shares during the period. Franklin Resources Inc. grew its stake in Bloomin’ Brands by 2.9% in the third quarter. Franklin Resources Inc. now owns 50,007 shares of the restaurant operator’s stock worth $773,000 after purchasing an additional 1,392 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Bloomin’ Brands by 79.1% during the third quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock valued at $56,000 after purchasing an additional 1,489 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.