Bloomin’ Brands (NASDAQ:BLMN) Sets New 52-Week Low – Time to Sell?

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $11.03 and last traded at $11.22, with a volume of 1679242 shares. The stock had previously closed at $11.45.

Analysts Set New Price Targets

BLMN has been the topic of several recent research reports. Bank of America dropped their target price on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lowered their price target on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, November 12th. Piper Sandler cut 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 report on Monday, November 11th. Finally, The Goldman Sachs Group initiated coverage on shares of Bloomin’ Brands in a research report on Thursday, December 5th. They set a “sell” rating and a $13.00 target price for the company. One equities research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.90.

Bloomin’ Brands Price Performance

The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46. The stock has a 50-day moving average price of $12.75 and a 200 day moving average price of $15.70. The stock has a market capitalization of $995.21 million, a price-to-earnings ratio of -106.63 and a beta of 1.97.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings data on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the business earned $0.44 earnings per share. The business’s revenue was down 5.1% compared to the same quarter last year. As a group, equities research analysts expect that Bloomin’ Brands, Inc. will post 1.8 earnings per share for the current year.

Bloomin’ Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Monday, November 25th were given a dividend of $0.24 per share. The ex-dividend date was Monday, November 25th. This represents a $0.96 annualized dividend and a dividend yield of 8.18%. Bloomin’ Brands’s dividend payout ratio (DPR) is presently -872.73%.

Institutional Investors Weigh In On Bloomin’ Brands

Large investors have recently bought and sold shares of the company. Erste Asset Management GmbH acquired a new stake in Bloomin’ Brands during the 3rd quarter worth $41,325,000. Deprince Race & Zollo Inc. purchased a new stake in shares of Bloomin’ Brands in the second quarter valued at about $28,672,000. Millennium Management LLC raised its stake in Bloomin’ Brands by 2,520.7% during the second quarter. Millennium Management LLC now owns 468,507 shares of the restaurant operator’s stock worth $9,009,000 after purchasing an additional 450,630 shares during the period. FMR LLC boosted its holdings in Bloomin’ Brands by 34.8% in the 3rd quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock valued at $22,830,000 after purchasing an additional 356,456 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in shares of Bloomin’ Brands by 58.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 691,585 shares of the restaurant operator’s stock valued at $11,432,000 after buying an additional 254,570 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.