Bloomin’ Brands (NASDAQ:BLMN) Downgraded to Market Perform Rating by Raymond James

Raymond James downgraded shares of Bloomin’ Brands (NASDAQ:BLMN) from an outperform rating to a market perform rating in a report released on Monday, Marketbeat Ratings reports.

Other equities analysts also recently issued reports about the company. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Citigroup lowered their price objective on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. Bank of America lowered their price objective on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Barclays lowered their target price on Bloomin’ Brands from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Finally, Morgan Stanley lowered their target price on Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.70.

Bloomin’ Brands Stock Performance

NASDAQ:BLMN opened at $13.43 on Monday. The stock’s 50-day simple moving average is $16.20 and its 200 day simple moving average is $18.54. The firm has a market capitalization of $1.14 billion, a PE ratio of -122.08 and a beta of 2.04. The company has a quick ratio of 0.26, a current ratio of 0.31 and a debt-to-equity ratio of 4.46. Bloomin’ Brands has a twelve month low of $13.11 and a twelve month high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last posted its earnings results on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the company earned $0.44 earnings per share. On average, analysts anticipate that Bloomin’ Brands will post 1.8 EPS for the current fiscal year.

Bloomin’ Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 25th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $0.96 dividend on an annualized basis and a yield of 7.15%. Bloomin’ Brands’s dividend payout ratio (DPR) is currently -872.65%.

Institutional Trading of Bloomin’ Brands

A number of hedge funds have recently bought and sold shares of BLMN. Gladius Capital Management LP bought a new stake in shares of Bloomin’ Brands in the third quarter valued at $26,000. Headlands Technologies LLC bought a new stake in shares of Bloomin’ Brands in the first quarter valued at $30,000. KBC Group NV raised its stake in shares of Bloomin’ Brands by 79.1% in the third quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock valued at $56,000 after buying an additional 1,489 shares during the period. EntryPoint Capital LLC raised its stake in shares of Bloomin’ Brands by 6,454.9% in the first quarter. EntryPoint Capital LLC now owns 3,343 shares of the restaurant operator’s stock valued at $96,000 after buying an additional 3,292 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Bloomin’ Brands in the second quarter valued at $111,000.

Bloomin’ Brands Company Profile

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.