Bloomin' Brands, Inc. (NASDAQ:BLMN) Given Consensus Rating of "Reduce" by Analysts

Key Points

• Brokers have set an average 12-month price target for Bloomin' Brands, Inc. (NASDAQ:BLMN) at $11.00, with most recommendations indicating a "Reduce" status.
• The company's shares recently traded down 3.6% to $7.00, significantly below its 12-month high of $18.72 and indicating market volatility.
• Bloomin' Brands announced a $0.15 quarterly dividend that reflects a substantial payout ratio of -1,200.00%, indicating potential financial strain.

Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the nine research firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $9.8750.

Several research firms have recently weighed in on BLMN. The Goldman Sachs Group lowered their target price on shares of Bloomin' Brands from $8.00 to $6.50 and set a "sell" rating on the stock in a report on Thursday, August 7th. Morgan Stanley boosted their target price 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. BMO Capital Markets cut their price objective on shares of Bloomin' Brands from $10.00 to $8.00 and set a "market perform" rating on the stock in a report on Thursday, August 7th. Barclays cut their target price on Bloomin' Brands from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Bloomin' Brands from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Wednesday, June 25th.

Bloomin' Brands Stock Up 1.6%

Bloomin' Brands stock traded up $0.12 during mid-day trading on Friday, hitting $7.32. 627,884 shares of the company's stock were exchanged, compared to its average volume of 2,662,518. The stock has a 50 day moving average of $8.90 and a two-hundred day moving average of $8.77. 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 1-year low of $6.09 and a 1-year high of $18.72. The stock has a market cap of $622.29 million, a P/E ratio of -146.30 and a beta of 1.32.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The restaurant operator reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. Bloomin' Brands had a positive return on equity of 44.03% and a negative net margin of 0.12%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $974.69 million. During the same period in the previous year, the company earned $0.51 earnings per share. The company's quarterly revenue was up .3% compared to the same quarter last year. As a group, analysts anticipate that Bloomin' Brands will post 1.8 EPS for the current fiscal year.

Bloomin' Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, August 19th. This represents a $0.60 annualized dividend and a yield of 8.2%. Bloomin' Brands's dividend payout ratio (DPR) is presently -1,200.00%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BLMN. Caxton Associates LLP boosted its position in shares of Bloomin' Brands by 477.4% during the second quarter. Caxton Associates LLP now owns 136,831 shares of the restaurant operator's stock valued at $1,178,000 after buying an additional 113,134 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of Bloomin' Brands by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 257,154 shares of the restaurant operator's stock worth $2,214,000 after purchasing an additional 17,675 shares in the last quarter. Evergreen Capital Management LLC purchased a new position in Bloomin' Brands in the 2nd quarter valued at approximately $242,000. Headlands Technologies LLC raised its stake in shares of Bloomin' Brands by 146.0% during the 2nd quarter. Headlands Technologies LLC now owns 21,426 shares of the restaurant operator's stock valued at $184,000 after purchasing an additional 12,717 shares during the period. Finally, State of Tennessee Department of Treasury lifted its holdings in shares of Bloomin' Brands by 84.2% in the second quarter. State of Tennessee Department of Treasury now owns 34,493 shares of the restaurant operator's stock worth $297,000 after buying an additional 15,766 shares in the last quarter.

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.