Bloomin' Brands (NASDAQ:BLMN) Trading Down 6.5% - Should You Sell?

Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report)'s stock price dropped 6.5% during mid-day trading on Friday . The stock traded as low as $8.33 and last traded at $8.24. Approximately 233,847 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 2,099,789 shares. The stock had previously closed at $8.81.

Wall Street Analyst Weigh In

A number of research firms recently commented on BLMN. Barclays decreased their price objective on Bloomin' Brands from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. BMO Capital Markets lowered their price target on shares of Bloomin' Brands from $16.00 to $12.00 and set a "market perform" rating for the company in a report on Thursday, February 27th. Wall Street Zen raised shares of Bloomin' Brands from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. JPMorgan Chase & Co. decreased their target price on shares of Bloomin' Brands from $10.00 to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. Finally, UBS Group lowered their target price on shares of Bloomin' Brands from $13.00 to $8.50 and set a "neutral" rating for the company in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $13.75.

Bloomin' Brands Stock Up 16.1%

The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22. The firm's 50-day moving average is $7.89 and its 200 day moving average is $9.84. The stock has a market cap of $794.95 million, a price-to-earnings ratio of -85.08 and a beta of 1.29.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The restaurant operator reported $0.59 earnings per share (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 negative net margin of 0.12% and a positive return on equity of 62.18%. The business's quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 EPS. Sell-side analysts anticipate that Bloomin' Brands, Inc. will post 1.8 earnings per share for the current fiscal year.

Bloomin' Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th were issued a $0.15 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.41%. Bloomin' Brands's dividend payout ratio (DPR) is -2,000.00%.

Hedge Funds Weigh In On Bloomin' Brands

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bayforest Capital Ltd acquired a new stake in Bloomin' Brands during the 1st quarter worth approximately $933,000. Caxton Associates LLP acquired a new position in Bloomin' Brands during the first quarter valued at approximately $170,000. Goldman Sachs Group Inc. grew its stake in Bloomin' Brands by 4.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,048,497 shares of the restaurant operator's stock worth $7,518,000 after buying an additional 43,329 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Bloomin' Brands in the first quarter worth $601,000. Finally, Millennium Management LLC increased its position in shares of Bloomin' Brands by 123.1% in the first quarter. Millennium Management LLC now owns 2,299,778 shares of the restaurant operator's stock worth $16,489,000 after acquiring an additional 1,268,988 shares in the last quarter.

Bloomin' Brands Company Profile

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.