Bloomin’ Brands, Inc. (BLMN) To Go Ex-Dividend on March 11th

Bloomin’ Brands, Inc. (NASDAQ:BLMN) declared a quarterly dividend on Wednesday, February 12th, Wall Street Journal reports. Shareholders of record on Tuesday, March 11th will be paid a dividend of 0.15 per share by the restaurant operator on Wednesday, March 26th. This represents a $0.60 annualized dividend and a yield of 6.83%. The ex-dividend date of this dividend is Tuesday, March 11th.

Bloomin’ Brands has a dividend payout ratio of 40.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bloomin’ Brands to earn $1.76 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 34.1%.

Bloomin’ Brands Stock Performance

Shares of Bloomin’ Brands stock opened at $8.79 on Friday. The stock’s fifty day moving average is $11.51 and its two-hundred day moving average is $13.91. The company has a market capitalization of $746.54 million, a PE ratio of -79.90 and a beta of 2.04. 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 has a 52 week low of $8.00 and a 52 week high of $29.59.

Insider Activity

In other news, EVP Patrick M. Hafner sold 9,555 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $8.32, for a total value of $79,497.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 3.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BLMN. Bank of America downgraded Bloomin’ Brands from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $18.00 to $13.00 in a research report on Monday, January 27th. The Goldman Sachs Group dropped their price target on Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating on the stock in a research report on Thursday, February 27th. JPMorgan Chase & Co. dropped their price target on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 12th. Raymond James downgraded Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. Finally, StockNews.com raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.00.

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.