Bloomin’ Brands (NASDAQ:BLMN) Price Target Lowered to $30.00 at Barclays

Bloomin’ Brands (NASDAQ:BLMN) had its price target lowered by Barclays from $32.00 to $30.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the restaurant operator’s stock.

BLMN has been the subject of several other research reports. UBS Group cut their target price 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. cut shares of Bloomin’ Brands from an overweight rating to a neutral rating and set a $26.00 price objective on the stock. in a research report on Tuesday, January 23rd. Citigroup upped their target price on shares of Bloomin’ Brands from $25.00 to $29.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Finally, BMO Capital Markets reduced their price target on shares of Bloomin’ Brands from $29.00 to $27.00 and set a market perform rating on the stock in a report on Wednesday. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bloomin’ Brands currently has an average rating of Hold and an average target price of $27.50.

Bloomin’ Brands Stock Performance

BLMN opened at $23.89 on Wednesday. The company has a 50 day simple moving average of $27.46 and a two-hundred day simple moving average of $26.18. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.34 and a quick ratio of 0.27. The firm has a market cap of $2.08 billion, a P/E ratio of 9.44, a PEG ratio of 9.85 and a beta of 2.02. Bloomin’ Brands has a 1-year low of $22.03 and a 1-year high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last released its earnings results on Tuesday, May 7th. The restaurant operator reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.05). Bloomin’ Brands had a net margin of 5.30% and a return on equity of 73.67%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the firm posted $0.98 EPS. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. Equities analysts forecast that Bloomin’ Brands will post 2.55 earnings per share for the current fiscal year.

Bloomin’ Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Friday, May 17th. Bloomin’ Brands’s payout ratio is 37.94%.

Institutional Investors Weigh In On Bloomin’ Brands

Several large investors have recently added to or reduced their stakes in BLMN. SummerHaven Investment Management LLC boosted its holdings in shares of Bloomin’ Brands by 1.6% in the 4th quarter. SummerHaven Investment Management LLC now owns 26,763 shares of the restaurant operator’s stock worth $753,000 after purchasing an additional 417 shares during the period. Verdence Capital Advisors LLC lifted its position in Bloomin’ Brands by 4.8% in the third quarter. Verdence Capital Advisors LLC now owns 12,250 shares of the restaurant operator’s stock worth $301,000 after buying an additional 566 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in Bloomin’ Brands by 5.2% during the first quarter. Nations Financial Group Inc. IA ADV now owns 13,686 shares of the restaurant operator’s stock worth $393,000 after buying an additional 671 shares during the period. Rye Brook Capital LLC increased its position in Bloomin’ Brands by 0.3% during the first quarter. Rye Brook Capital LLC now owns 247,700 shares of the restaurant operator’s stock valued at $7,104,000 after acquiring an additional 700 shares during the last quarter. Finally, Watershed Asset Management L.L.C. raised its stake in shares of Bloomin’ Brands by 7.2% in the fourth quarter. Watershed Asset Management L.L.C. now owns 11,207 shares of the restaurant operator’s stock valued at $315,000 after acquiring an additional 756 shares during the period.

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.