Bloomin’ Brands, Inc. (NASDAQ:BLMN) to Issue Quarterly Dividend of $0.15

Bloomin’ Brands, Inc. (NASDAQ:BLMN) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Stockholders of record on Tuesday, March 11th will be paid a dividend of 0.15 per share by the restaurant operator on Wednesday, March 26th. This represents a $0.60 annualized dividend and a dividend yield of 6.00%. The ex-dividend date is Tuesday, March 11th.

Bloomin’ Brands has a dividend payout ratio of 47.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bloomin’ Brands to earn $1.76 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 54.5%.

Bloomin’ Brands Stock Up 1.0 %

Shares of Bloomin’ Brands stock traded up $0.10 during midday trading on Thursday, hitting $10.00. The company had a trading volume of 4,194,994 shares, compared to its average volume of 2,001,197. The company has a 50 day moving average of $11.94 and a 200 day moving average of $14.31. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31. Bloomin’ Brands has a 52-week low of $9.57 and a 52-week high of $30.13. The stock has a market capitalization of $848.01 million, a P/E ratio of -90.86 and a beta of 1.97.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Bank of America cut Bloomin’ Brands from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $18.00 to $13.00 in a report on Monday, January 27th. JPMorgan Chase & Co. decreased their price target on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, November 12th. BMO Capital Markets cut 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. UBS Group dropped their price target on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.00.

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.