Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report) gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $7.93, but opened at $8.42. Bloomin' Brands shares last traded at $7.66, with a volume of 566,994 shares traded.
The restaurant operator reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. Bloomin' Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. During the same quarter in the prior year, the company posted $0.70 EPS. The company's quarterly revenue was down 1.8% on a year-over-year basis.
Bloomin' Brands Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 7.64%. The ex-dividend date was Tuesday, March 11th. Bloomin' Brands's dividend payout ratio is currently -40.27%.
Analysts Set New Price Targets
BLMN has been the topic of several analyst reports. UBS Group cut their price target on shares of Bloomin' Brands from $13.00 to $8.50 and set a "neutral" rating on the stock in a report on Monday. BMO Capital Markets reduced their price target on Bloomin' Brands from $16.00 to $12.00 and set a "market perform" rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group dropped their price objective on Bloomin' Brands from $13.00 to $10.00 and set a "sell" rating for the company in a report on Thursday, February 27th. Barclays reduced their target price on Bloomin' Brands from $11.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Bloomin' Brands from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, March 20th. Two analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. According to MarketBeat.com, Bloomin' Brands presently has an average rating of "Hold" and a consensus target price of $13.85.
Check Out Our Latest Stock Report on Bloomin' Brands
Insiders Place Their Bets
In other news, EVP Patrick M. Hafner sold 9,555 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $8.32, for a total value of $79,497.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is currently owned by insiders.
Institutional Trading of Bloomin' Brands
A number of hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in shares of Bloomin' Brands during the 4th quarter worth approximately $27,000. Public Employees Retirement System of Ohio acquired a new position in Bloomin' Brands during the fourth quarter worth $32,000. Meeder Asset Management Inc. purchased a new position in Bloomin' Brands during the fourth quarter valued at $41,000. New Age Alpha Advisors LLC acquired a new stake in shares of Bloomin' Brands in the fourth quarter valued at about $45,000. Finally, GAMMA Investing LLC increased its stake in shares of Bloomin' Brands by 28.9% during the first quarter. GAMMA Investing LLC now owns 6,304 shares of the restaurant operator's stock worth $45,000 after purchasing an additional 1,414 shares in the last quarter.
Bloomin' Brands Price Performance
The stock's 50 day moving average is $7.93 and its two-hundred day moving average is $11.21. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31. The stock has a market capitalization of $667.13 million, a PE ratio of -69.30 and a beta of 1.30.
About Bloomin' Brands
(
Get Free Report)
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.
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