Bloomin’ Brands (NASDAQ:BLMN) Given New $16.00 Price Target at Piper Sandler

Bloomin’ Brands (NASDAQ:BLMN) had its price target decreased by Piper Sandler from $20.00 to $16.00 in a research report report published on Monday,Benzinga reports. Piper Sandler currently has a neutral rating on the restaurant operator’s stock.

BLMN has been the topic of several other research reports. BMO Capital Markets dropped their price target 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, August 7th. Citigroup dropped their target price on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Bank of America dropped their target price on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Raymond James cut shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Monday. Finally, Barclays dropped their target price on shares of Bloomin’ Brands from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Bloomin’ Brands currently has an average rating of “Hold” and an average target price of $20.70.

Bloomin’ Brands Stock Performance

Shares of BLMN opened at $13.76 on Monday. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.35 and a quick ratio of 0.26. The stock has a 50-day moving average of $16.42 and a 200-day moving average of $18.77. The company has a market cap of $1.17 billion, a PE ratio of -124.44 and a beta of 2.04. Bloomin’ Brands has a one year low of $13.63 and a one year high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last issued 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 company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Bloomin’ Brands had a return on equity of 61.90% and a net margin of 0.70%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period last year, the business posted $0.44 EPS. On average, equities research analysts predict that Bloomin’ Brands will post 1.77 EPS for the current fiscal year.

Bloomin’ Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 25th will be paid a $0.24 dividend. 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 6.98%. Bloomin’ Brands’s dividend payout ratio is -872.65%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BLMN. Intech Investment Management LLC bought a new stake in shares of Bloomin’ Brands during the 3rd quarter worth $339,000. Advisors Asset Management Inc. lifted its holdings in shares of Bloomin’ Brands by 176.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 167,495 shares of the restaurant operator’s stock worth $2,769,000 after acquiring an additional 106,804 shares during the last quarter. Factorial Partners LLC lifted its holdings in shares of Bloomin’ Brands by 67.1% during the 3rd quarter. Factorial Partners LLC now owns 60,000 shares of the restaurant operator’s stock worth $992,000 after acquiring an additional 24,100 shares during the last quarter. Jennison Associates LLC lifted its stake in Bloomin’ Brands by 4.4% in the third quarter. Jennison Associates LLC now owns 1,411,200 shares of the restaurant operator’s stock worth $23,327,000 after purchasing an additional 59,418 shares during the last quarter. Finally, Gladius Capital Management LP bought a new stake in Bloomin’ Brands in the third quarter worth $26,000.

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.