Bloomin’ Brands (NASDAQ:BLMN) Reaches New 1-Year Low – What’s Next?

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s share price hit a new 52-week low on Tuesday . The company traded as low as $8.43 and last traded at $8.44, with a volume of 4172833 shares. The stock had previously closed at $9.38.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BLMN shares. UBS Group lowered their target price on shares of Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Raymond James downgraded Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. cut their price objective on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, November 12th. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, BMO Capital Markets dropped their price target on 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. Two analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Bloomin’ Brands presently has an average rating of “Hold” and an average price target of $15.00.

Bloomin’ Brands Price Performance

The company has a market cap of $716.82 million, a price-to-earnings ratio of -76.72 and a beta of 1.97. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46. The company has a fifty day moving average price of $11.79 and a two-hundred day moving average price of $14.14.

Bloomin’ Brands Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 7.11%. The ex-dividend date is Tuesday, March 11th. Bloomin’ Brands’s dividend payout ratio (DPR) is presently -40.27%.

Hedge Funds Weigh In On Bloomin’ Brands

A number of hedge funds have recently made changes to their positions in the business. Creative Planning acquired a new position in Bloomin’ Brands in the third quarter worth about $219,000. Farther Finance Advisors LLC grew its stake in shares of Bloomin’ Brands by 17.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 15,521 shares of the restaurant operator’s stock valued at $257,000 after purchasing an additional 2,289 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Bloomin’ Brands by 6.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock worth $41,806,000 after buying an additional 147,895 shares in the last quarter. Olympiad Research LP bought a new position in shares of Bloomin’ Brands during the 3rd quarter worth approximately $202,000. Finally, Easterly Investment Partners LLC boosted its stake in Bloomin’ Brands by 14.8% in the 3rd quarter. Easterly Investment Partners LLC now owns 676,157 shares of the restaurant operator’s stock valued at $11,177,000 after buying an additional 87,293 shares in 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.