Barclays Cuts Bloomin’ Brands (NASDAQ:BLMN) Price Target to $8.00

Bloomin’ Brands (NASDAQ:BLMN) had its target price decreased by Barclays from $9.00 to $8.00 in a research report report published on Thursday morning,Benzinga reports. Barclays currently has an equal weight rating on the restaurant operator’s stock.

A number of other analysts have also commented on the stock. BMO Capital Markets cut their price objective on shares of Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group reduced their price objective on shares of Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating for the company in a research note on Thursday, February 27th. Bank of America downgraded Bloomin’ Brands from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $18.00 to $13.00 in a research report on Monday, January 27th. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. dropped their price objective on Bloomin’ Brands from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. Based on data from MarketBeat.com, Bloomin’ Brands has an average rating of “Hold” and an average target price of $13.75.

Bloomin’ Brands Stock Down 0.4 %

Shares of BLMN stock opened at $7.30 on Thursday. The company has a market capitalization of $620.00 million, a price-to-earnings ratio of -66.36 and a beta of 1.30. Bloomin’ Brands has a 12-month low of $6.09 and a 12-month high of $24.50. The firm has a fifty day moving average of $7.85 and a 200-day moving average of $11.03. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings results on Wednesday, May 7th. The restaurant operator reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 earnings per share. As a group, equities research analysts predict that Bloomin’ Brands will post 1.8 earnings per share for the current fiscal year.

Bloomin’ Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.22%. The ex-dividend date is Tuesday, May 20th. Bloomin’ Brands’s dividend payout ratio is presently -40.27%.

Insider Activity

In other Bloomin’ Brands news, EVP Patrick M. Hafner sold 9,555 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $8.32, for a total value of $79,497.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bloomin’ Brands

Several institutional investors have recently made changes to their positions in BLMN. Headlands Technologies LLC bought a new stake in shares of Bloomin’ Brands during the 4th quarter valued at $27,000. Public Employees Retirement System of Ohio acquired a new stake in Bloomin’ Brands during the fourth quarter worth about $32,000. Meeder Asset Management Inc. acquired a new position in shares of Bloomin’ Brands in the 4th quarter valued at approximately $41,000. New Age Alpha Advisors LLC acquired a new position in shares of Bloomin’ Brands in the 4th quarter valued at approximately $45,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Bloomin’ Brands by 28.9% during the 1st quarter. GAMMA Investing LLC now owns 6,304 shares of the restaurant operator’s stock worth $45,000 after acquiring an additional 1,414 shares during the period.

Bloomin’ Brands Company Profile

Bloomin’ Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.