Bloomin' Brands (NASDAQ:BLMN) Price Target Lowered to $7.00 at Barclays

Key Points

• Barclays has reduced its target price for Bloomin' Brands (NASDAQ:BLMN) from $9.00 to $7.00 while maintaining an "equal weight" rating, suggesting a potential upside of 12.72% from the current stock price.
• Bloomin' Brands' stock has seen a significant decline of 30.6%, trading at $6.21, amid concerns about weak guidance and demand.
• In the latest quarterly earnings report, Bloomin' Brands posted a positive earnings per share (EPS) of $0.33, exceeding the expected $0.28, with year-over-year revenue growth of 0.3%.

Bloomin' Brands (NASDAQ:BLMN - Free Report) had its target price trimmed by Barclays from $9.00 to $7.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the restaurant operator's stock.

A number of other brokerages have also recently issued reports on BLMN. JPMorgan Chase & Co. upped their target price on Bloomin' Brands from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Wednesday, June 25th. UBS Group decreased their price objective on Bloomin' Brands from $13.00 to $8.50 and set a "neutral" rating for the company in a research report on Monday, May 5th. Finally, Morgan Stanley increased their price objective on Bloomin' Brands from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Two investment analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat.com, Bloomin' Brands has a consensus rating of "Hold" and a consensus price target of $11.00.

Bloomin' Brands Stock Performance

Shares of NASDAQ BLMN traded down $0.12 during trading hours on Wednesday, reaching $6.63. The stock had a trading volume of 4,310,346 shares, compared to its average volume of 2,702,988. The firm has a market cap of $564.01 million, a price-to-earnings ratio of -132.60 and a beta of 1.32. The company has a current ratio of 0.43, a quick ratio of 0.35 and a debt-to-equity ratio of 2.29. Bloomin' Brands has a fifty-two week low of $6.09 and a fifty-two week high of $18.72. The firm has a 50-day moving average of $9.00 and a 200-day moving average of $9.01.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last announced its earnings results on Wednesday, August 6th. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $974.69 million. Bloomin' Brands had a positive return on equity of 44.03% and a negative net margin of 0.12%. The business's revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS. Equities research analysts predict that Bloomin' Brands will post 1.8 earnings per share for the current year.

Bloomin' Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 9.0%. The ex-dividend date of this dividend is Tuesday, August 19th. Bloomin' Brands's dividend payout ratio is -1,200.00%.

Hedge Funds Weigh In On Bloomin' Brands

A number of large investors have recently modified their holdings of BLMN. Norges Bank purchased a new position in shares of Bloomin' Brands during the 4th quarter worth approximately $849,000. Franklin Resources Inc. raised its stake in shares of Bloomin' Brands by 809.9% during the 4th quarter. Franklin Resources Inc. now owns 455,010 shares of the restaurant operator's stock worth $5,556,000 after buying an additional 405,003 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Bloomin' Brands during the 4th quarter worth approximately $27,000. Invesco Ltd. raised its stake in shares of Bloomin' Brands by 5.2% during the 4th quarter. Invesco Ltd. now owns 934,222 shares of the restaurant operator's stock worth $11,407,000 after buying an additional 45,793 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Bloomin' Brands during the 4th quarter worth approximately $2,882,000.

About Bloomin' Brands

Bloomin' Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.