Bloomin’ Brands (NASDAQ:BLMN) Hits New 1-Year Low – Should You Sell?

Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $9.77 and last traded at $10.26, with a volume of 1539643 shares trading hands. The stock had previously closed at $11.90.

Analysts Set New Price Targets

A number of research firms have recently commented on BLMN. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, February 18th. Bank of America lowered shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $18.00 to $13.00 in a research report on Monday, January 27th. JPMorgan Chase & Co. cut their price objective 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. Piper Sandler decreased their target price on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Finally, The Goldman Sachs Group assumed coverage on Bloomin’ Brands in a research note on Thursday, December 5th. They set a “sell” rating and a $13.00 price target on the stock. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $16.30.

Bloomin’ Brands Stock Performance

The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31. The firm has a 50 day moving average price of $12.00 and a two-hundred day moving average price of $14.36. The company has a market capitalization of $838.08 million, a P/E ratio of -89.06 and a beta of 1.97.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings results on Wednesday, February 26th. The restaurant operator reported $0.38 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.38. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. On average, research analysts expect that Bloomin’ Brands, Inc. will post 1.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bloomin’ Brands

Institutional investors have recently added to or reduced their stakes in the company. Erste Asset Management GmbH bought a new position in shares of Bloomin’ Brands in the third quarter valued at approximately $41,325,000. Schonfeld Strategic Advisors LLC grew its position in Bloomin’ Brands by 8,666.6% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,568,253 shares of the restaurant operator’s stock worth $19,148,000 after acquiring an additional 1,550,364 shares during the last quarter. American Century Companies Inc. raised its position in Bloomin’ Brands by 565.9% in the 4th quarter. American Century Companies Inc. now owns 1,791,366 shares of the restaurant operator’s stock valued at $21,873,000 after purchasing an additional 1,522,370 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Bloomin’ Brands by 385.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,817,145 shares of the restaurant operator’s stock valued at $22,187,000 after purchasing an additional 1,442,964 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Bloomin’ Brands by 483.0% during the fourth quarter. Marshall Wace LLP now owns 1,225,608 shares of the restaurant operator’s stock worth $14,965,000 after purchasing an additional 1,015,372 shares during the last quarter.

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.