Bloomin’ Brands (NASDAQ:BLMN) Reaches New 1-Year Low – What’s Next?

Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $8.43 and last traded at $8.44, with a volume of 4172833 shares trading hands. The stock had previously closed at $9.38.

Analyst Ratings Changes

BLMN has been the topic of several research analyst reports. Bank of America cut shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $18.00 to $13.00 in a research note on Monday, January 27th. BMO Capital Markets decreased their price target on 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. UBS Group cut their price objective on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group decreased their target price on Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating on the stock in a report on Thursday, February 27th. Finally, Barclays set a $11.00 target price on Bloomin’ Brands and gave the company an “equal weight” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Bloomin’ Brands currently has an average rating of “Hold” and an average target price of $15.00.

Bloomin’ Brands Stock Performance

The stock has a market capitalization of $716.82 million, a price-to-earnings ratio of -76.72 and a beta of 1.97. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22. The stock has a 50-day moving average of $11.79 and a 200 day moving average of $14.14.

Bloomin’ Brands Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 7.11%. The ex-dividend date is Tuesday, March 11th. Bloomin’ Brands’s dividend payout ratio is -40.27%.

Hedge Funds Weigh In On Bloomin’ Brands

Several large investors have recently bought and sold shares of the business. Gladius Capital Management LP bought a new stake in shares of Bloomin’ Brands during the 3rd quarter valued at $26,000. Headlands Technologies LLC acquired a new stake in shares of Bloomin’ Brands during the fourth quarter worth $27,000. Public Employees Retirement System of Ohio bought a new stake in Bloomin’ Brands in the fourth quarter valued at about $32,000. Meeder Asset Management Inc. acquired a new position in Bloomin’ Brands in the fourth quarter valued at about $41,000. Finally, New Age Alpha Advisors LLC bought a new position in Bloomin’ Brands during the fourth quarter worth about $45,000.

About Bloomin’ Brands

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.