Bloomin’ Brands, Inc. (NASDAQ:BLMN) Declares $0.24 Quarterly Dividend

Bloomin’ Brands, Inc. (NASDAQ:BLMN) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders of record on Monday, May 20th will be given a dividend of 0.24 per share by the restaurant operator on Friday, May 31st. This represents a $0.96 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Friday, May 17th.

Bloomin’ Brands has increased its dividend by an average of 68.7% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Bloomin’ Brands has a dividend payout ratio of 34.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Bloomin’ Brands to earn $2.79 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 34.4%.

Bloomin’ Brands Price Performance

Bloomin’ Brands stock remained flat at $23.96 during mid-day trading on Wednesday. 1,240,831 shares of the company’s stock were exchanged, compared to its average volume of 1,325,745. The firm has a market capitalization of $2.09 billion, a P/E ratio of 9.48, a price-to-earnings-growth ratio of 9.85 and a beta of 2.02. The company has a fifty day moving average price of $27.54 and a two-hundred day moving average price of $26.19. Bloomin’ Brands has a twelve month low of $22.03 and a twelve month high of $30.13. The company has a quick ratio of 0.27, a current ratio of 0.34 and a debt-to-equity ratio of 1.89.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings results on Tuesday, May 7th. The restaurant operator reported $0.70 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.05). The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. Bloomin’ Brands had a return on equity of 73.67% and a net margin of 5.30%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the firm earned $0.98 EPS. As a group, equities research analysts predict that Bloomin’ Brands will post 2.55 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BLMN shares. Citigroup raised their price objective on shares of Bloomin’ Brands from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. UBS Group cut their price objective on Bloomin’ Brands from $30.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. lowered Bloomin’ Brands from an “overweight” rating to a “neutral” rating and set a $26.00 target price on the stock. in a research note on Tuesday, January 23rd. BMO Capital Markets decreased their price objective on shares of Bloomin’ Brands from $29.00 to $27.00 and set a “market perform” rating for the company in a report on Wednesday. Finally, Barclays decreased their price objective on Bloomin’ Brands from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and two have given 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 $27.50.

Bloomin’ Brands Company Profile

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.