Bloomin' Brands (NASDAQ:BLMN) Stock Price Down 6.5% - Here's What Happened

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

Analysts Set New Price Targets

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

Bloomin' Brands Trading Down 8.5%

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 50-day simple moving average of $7.89 and a two-hundred day simple moving average of $9.90. The firm has a market cap of $684.54 million, a PE ratio of -73.27 and a beta of 1.29.

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

Bloomin' Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th were given a $0.15 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.60 annualized dividend and a yield of 7.44%. Bloomin' Brands's payout ratio is -2,000.00%.

Institutional Trading of Bloomin' Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new position in Bloomin' Brands in the 4th quarter worth $27,000. Public Employees Retirement System of Ohio purchased a new stake in Bloomin' Brands in the fourth quarter worth about $32,000. Meeder Asset Management Inc. bought a new position in shares of Bloomin' Brands in the fourth quarter worth about $41,000. New Age Alpha Advisors LLC purchased a new position in shares of Bloomin' Brands during the 4th quarter valued at about $45,000. Finally, GAMMA Investing LLC lifted its position in shares of Bloomin' Brands by 28.9% during the 1st quarter. GAMMA Investing LLC now owns 6,304 shares of the restaurant operator's stock valued at $45,000 after buying an additional 1,414 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.