Bloomin’ Brands (NASDAQ:BLMN) Hits New 12-Month Low – Time to Sell?

Bloomin’ Brands, Inc. (NASDAQ:BLMN) shares reached a new 52-week low on Friday . The stock traded as low as $13.11 and last traded at $13.19, with a volume of 717500 shares. The stock had previously closed at $13.43.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BLMN. Piper Sandler cut their price objective on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday. BMO Capital Markets cut their price objective on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. UBS Group lowered their target price on Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Barclays lowered their target price on Bloomin’ Brands from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Bank of America lowered their target price on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.70.

Bloomin’ Brands Price Performance

The company has a 50 day moving average price of $16.20 and a 200-day moving average price of $18.54. 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 (NASDAQ:BLMN) last announced 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. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the business posted $0.44 earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. On average, sell-side analysts predict that Bloomin’ Brands, Inc. will post 1.81 EPS for the current fiscal year.

Bloomin’ Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 7.31%. The ex-dividend date is Monday, November 25th. Bloomin’ Brands’s payout ratio is -872.65%.

Hedge Funds Weigh In On Bloomin’ Brands

A number of institutional investors and hedge funds have recently modified their holdings of the business. SummerHaven Investment Management LLC boosted its holdings in shares of Bloomin’ Brands by 2.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 27,857 shares of the restaurant operator’s stock worth $536,000 after buying an additional 718 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Bloomin’ Brands by 6.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 12,676 shares of the restaurant operator’s stock worth $210,000 after purchasing an additional 780 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Bloomin’ Brands in the 1st quarter worth $30,000. Hsbc Holdings PLC lifted its holdings in shares of Bloomin’ Brands by 8.7% in the 2nd quarter. Hsbc Holdings PLC now owns 13,567 shares of the restaurant operator’s stock worth $258,000 after purchasing an additional 1,083 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Bloomin’ Brands by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 17,657 shares of the restaurant operator’s stock worth $506,000 after purchasing an additional 1,216 shares in the last quarter.

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.