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

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $12.23 and last traded at $12.28, with a volume of 133098 shares changing hands. The stock had previously closed at $12.45.

Wall Street Analysts Forecast Growth

BLMN has been the subject of several research analyst reports. Piper Sandler lowered their target price on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Barclays lowered their target price on shares of Bloomin’ Brands from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, November 11th. The Goldman Sachs Group initiated coverage on shares of Bloomin’ Brands in a report on Thursday, December 5th. They issued a “sell” rating and a $13.00 target price for the company. Citigroup lowered their target price on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $19.09.

Bloomin’ Brands Stock Performance

The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -111.54 and a beta of 1.95. The stock’s 50 day moving average is $14.66 and its two-hundred day moving average is $16.94. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46.

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

Bloomin’ Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.96 dividend on an annualized basis and a yield of 7.82%. Bloomin’ Brands’s payout ratio is currently -872.65%.

Hedge Funds Weigh In On Bloomin’ Brands

A number of large investors have recently bought and sold shares of BLMN. Gladius Capital Management LP purchased a new position in Bloomin’ Brands during the 3rd quarter worth $26,000. KBC Group NV raised its position in Bloomin’ Brands by 79.1% during the 3rd quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock worth $56,000 after buying an additional 1,489 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Bloomin’ Brands in the 2nd quarter valued at about $111,000. Point72 DIFC Ltd purchased a new position in shares of Bloomin’ Brands in the 2nd quarter valued at about $169,000. Finally, Olympiad Research LP purchased a new position in shares of Bloomin’ Brands in the 3rd quarter valued at about $202,000.

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.