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

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BLMN. Barclays cut their price target 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. Piper Sandler lowered their price objective on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. JPMorgan Chase & Co. lowered their price objective on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 12th. Bank of America lowered their price objective on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Finally, Raymond James cut shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Bloomin’ Brands currently has a consensus rating of “Hold” and a consensus target price of $19.09.

Bloomin’ Brands Price Performance

The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -111.54 and a beta of 1.95. The company’s 50 day simple moving average is $14.66 and its 200-day simple 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 released its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the company earned $0.44 EPS. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, equities research analysts predict that Bloomin’ Brands, Inc. will post 1.8 earnings per share for the current fiscal year.

Bloomin’ Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Monday, November 25th were issued a $0.24 dividend. 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 -872.65%.

Institutional Investors Weigh In On Bloomin’ Brands

A number of institutional investors have recently bought and sold shares of the stock. SummerHaven Investment Management LLC grew its holdings in Bloomin’ Brands by 2.6% in the second quarter. SummerHaven Investment Management LLC now owns 27,857 shares of the restaurant operator’s stock valued at $536,000 after purchasing an additional 718 shares during the period. Verdence Capital Advisors LLC grew its holdings in Bloomin’ Brands by 6.6% in the third quarter. Verdence Capital Advisors LLC now owns 12,676 shares of the restaurant operator’s stock valued at $210,000 after purchasing an additional 780 shares during the period. Hsbc Holdings PLC grew its holdings in Bloomin’ Brands by 8.7% in the second quarter. Hsbc Holdings PLC now owns 13,567 shares of the restaurant operator’s stock valued at $258,000 after purchasing an additional 1,083 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Bloomin’ Brands by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,204 shares of the restaurant operator’s stock valued at $331,000 after purchasing an additional 1,354 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Bloomin’ Brands by 2.9% in the third quarter. Franklin Resources Inc. now owns 50,007 shares of the restaurant operator’s stock valued at $773,000 after purchasing an additional 1,392 shares during the period.

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.