Bloomin' Brands, Inc., through its subsidiaries, owns and operates casual, upscale casual, and fine dining restaurants in the United States and internationally. The company operates through two segments, U.S. and International. Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba's Italian Grill, a casual Italian restaurant; Bonefish Grill; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse. As of December 26, 2021, the company owned and operated 1,013 full-service restaurants and franchised 157 restaurants across 47 states; and 156 full-service restaurants and franchised 172 restaurants across 17 countries and Guam. The company was founded in 1988 and is based in Tampa, Florida.
Bloomin' Brands Price Performance
Shares of Bloomin' Brands stock opened at $23.36 on Friday. Bloomin' Brands has a 1-year low of $15.89 and a 1-year high of $27.69. The firm has a fifty day simple moving average of $18.61 and a 200-day simple moving average of $20.51. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 37.08 and a beta of 1.88. The company has a current ratio of 0.32, a quick ratio of 0.23 and a debt-to-equity ratio of 3.05.
Bloomin' Brands (NASDAQ:BLMN - Get Rating) last announced its quarterly earnings results on Friday, July 29th. The restaurant operator reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.05. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. Bloomin' Brands had a net margin of 1.76% and a return on equity of 109.21%. The business's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 EPS. On average, sell-side analysts expect that Bloomin' Brands will post 2.44 earnings per share for the current year.
Bloomin' Brands Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th will be paid a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 9th. This represents a $0.56 annualized dividend and a dividend yield of 2.40%. Bloomin' Brands's dividend payout ratio is currently 88.89%.
Analysts Set New Price Targets
A number of research analysts recently commented on BLMN shares. Barclays lowered their price objective on shares of Bloomin' Brands from $29.00 to $26.00 in a research report on Thursday, June 9th. BMO Capital Markets reduced their target price on shares of Bloomin' Brands from $33.00 to $29.00 in a research note on Monday, August 1st. Morgan Stanley lifted their target price on shares of Bloomin' Brands from $21.00 to $22.00 and gave the company an "equal weight" rating in a research note on Monday, August 1st. StockNews.com cut shares of Bloomin' Brands from a "buy" rating to a "hold" rating in a research note on Tuesday, August 9th. Finally, Citigroup lifted their target price on shares of Bloomin' Brands to $23.00 in a research note on Tuesday, August 9th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Bloomin' Brands presently has an average rating of "Moderate Buy" and an average price target of $27.80.
Insider Transactions at Bloomin' Brands
In other news, EVP Kelly Lefferts sold 8,087 shares of the firm's stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $20.82, for a total transaction of $168,371.34. Following the completion of the transaction, the executive vice president now directly owns 36,626 shares of the company's stock, valued at approximately $762,553.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.85% of the company's stock.