Barclays Trims Bloomin’ Brands (NASDAQ:BLMN) Target Price to $22.00

Bloomin’ Brands (NASDAQ:BLMN) had its target price reduced by Barclays from $30.00 to $22.00 in a research note released on Wednesday, Benzinga reports. They currently have an overweight rating on the restaurant operator’s stock.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of Bloomin’ Brands from $26.00 to $24.00 and set a neutral rating on the stock in a research report on Tuesday, May 28th. BMO Capital Markets reduced their target price on shares of Bloomin’ Brands from $27.00 to $20.00 and set a market perform rating on the stock in a research report on Wednesday. Morgan Stanley reduced their target price on shares of Bloomin’ Brands from $26.00 to $22.00 and set an equal weight rating on the stock in a research report on Tuesday, July 16th. Finally, UBS Group dropped their price target on shares of Bloomin’ Brands from $30.00 to $26.00 and set a neutral rating for the company in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $23.33.

Bloomin’ Brands Trading Down 2.1 %

BLMN stock traded down $0.34 during midday trading on Wednesday, reaching $15.63. 1,774,694 shares of the company’s stock traded hands, compared to its average volume of 1,492,658. The company has a market capitalization of $1.35 billion, a P/E ratio of 24.42 and a beta of 2.04. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.33 and a quick ratio of 0.26. Bloomin’ Brands has a fifty-two week low of $15.44 and a fifty-two week high of $30.13. The business has a 50-day moving average price of $18.96 and a two-hundred day moving average price of $23.79.

Bloomin’ Brands (NASDAQ:BLMN) last posted its earnings results on Tuesday, August 6th. The restaurant operator reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.07). Bloomin’ Brands had a return on equity of 65.73% and a net margin of 1.56%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the firm posted $0.74 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Equities research analysts forecast that Bloomin’ Brands will post 2.37 EPS for the current fiscal year.

Bloomin’ Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.96 annualized dividend and a dividend yield of 6.14%. Bloomin’ Brands’s dividend payout ratio is currently 150.00%.

Hedge Funds Weigh In On Bloomin’ Brands

Institutional investors have recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in Bloomin’ Brands in the first quarter worth about $30,000. TFO Wealth Partners LLC lifted its holdings in Bloomin’ Brands by 284,000.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,841 shares of the restaurant operator’s stock worth $80,000 after purchasing an additional 2,840 shares during the period. EntryPoint Capital LLC lifted its holdings in Bloomin’ Brands by 6,454.9% in the first quarter. EntryPoint Capital LLC now owns 3,343 shares of the restaurant operator’s stock worth $96,000 after purchasing an additional 3,292 shares during the period. AdvisorShares Investments LLC lifted its holdings in Bloomin’ Brands by 21.9% in the fourth quarter. AdvisorShares Investments LLC now owns 5,014 shares of the restaurant operator’s stock worth $141,000 after purchasing an additional 900 shares during the period. Finally, Assetmark Inc. lifted its holdings in Bloomin’ Brands by 32.0% in the fourth quarter. Assetmark Inc. now owns 5,314 shares of the restaurant operator’s stock worth $150,000 after purchasing an additional 1,288 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.