Bloomin' Brands (NASDAQ:BLMN) Stock Price Up 13.4% - Here's Why

Shares of Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report) rose 13.4% during trading on Monday . The company traded as high as $8.45 and last traded at $8.28. Approximately 434,660 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 2,002,385 shares. The stock had previously closed at $7.30.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of Bloomin' Brands from $13.00 to $10.00 and set a "sell" rating for the company in a research report on Thursday, February 27th. BMO Capital Markets dropped their price target on shares of Bloomin' Brands from $16.00 to $12.00 and set a "market perform" rating on the stock in a research report on Thursday, February 27th. StockNews.com raised shares of Bloomin' Brands from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. Bank of America downgraded shares of Bloomin' Brands from a "neutral" rating to an "underperform" rating and cut their target price for the stock from $18.00 to $13.00 in a research report on Monday, January 27th. Finally, Barclays reduced their price objective on shares of Bloomin' Brands from $9.00 to $8.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Two research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to MarketBeat, Bloomin' Brands has an average rating of "Hold" and a consensus target price of $13.75.

Bloomin' Brands Stock Performance

The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46. The firm has a 50-day moving average of $7.85 and a 200 day moving average of $10.76. The stock has a market capitalization of $748.24 million, a P/E ratio of -80.08 and a beta of 1.30.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last released its earnings results on Wednesday, May 7th. The restaurant operator reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.04 billion. Bloomin' Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The business's revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.70 EPS. Research analysts anticipate that Bloomin' Brands, Inc. will post 1.8 EPS for the current fiscal year.

Bloomin' Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 6.81%. The ex-dividend date of this dividend is Tuesday, May 20th. Bloomin' Brands's dividend payout ratio is -2,000.00%.

Insider Buying and Selling at Bloomin' Brands

In related news, EVP Patrick M. Hafner sold 9,555 shares of the business's stock in a transaction that occurred on 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 can be accessed through the SEC website. Company insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Bloomin' Brands

A number of institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. lifted its holdings in shares of Bloomin' Brands by 0.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,390,703 shares of the restaurant operator's stock worth $29,190,000 after purchasing an additional 10,635 shares during the period. Millennium Management LLC raised its stake in Bloomin' Brands by 123.1% during the 1st quarter. Millennium Management LLC now owns 2,299,778 shares of the restaurant operator's stock worth $16,489,000 after buying an additional 1,268,988 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Bloomin' Brands by 385.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,817,145 shares of the restaurant operator's stock valued at $22,187,000 after purchasing an additional 1,442,964 shares during the period. American Century Companies Inc. increased its holdings in Bloomin' Brands by 565.9% during the 4th quarter. American Century Companies Inc. now owns 1,791,366 shares of the restaurant operator's stock worth $21,873,000 after purchasing an additional 1,522,370 shares in the last quarter. Finally, William Blair Investment Management LLC raised its position in Bloomin' Brands by 1.1% in the 4th quarter. William Blair Investment Management LLC now owns 1,649,084 shares of the restaurant operator's stock valued at $20,135,000 after buying an additional 18,525 shares during 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.