Bloomin’ Brands (NASDAQ:BLMN) Shares Down 4.9% – Here’s What Happened

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s share price was down 4.9% during trading on Monday . The company traded as low as $8.25 and last traded at $8.38. Approximately 397,246 shares changed hands during trading, a decline of 80% from the average daily volume of 2,034,892 shares. The stock had previously closed at $8.81.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BLMN shares. JPMorgan Chase & Co. lowered their price objective on Bloomin’ Brands from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Bank of America cut Bloomin’ Brands from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $18.00 to $13.00 in a research note on Monday, January 27th. The Goldman Sachs Group cut their price target on Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating for the company in a research note on Thursday, February 27th. Barclays lowered their price target on shares of 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. Finally, UBS Group decreased their price target 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. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Bloomin’ Brands currently has an average rating of “Hold” and an average price target of $13.75.

Bloomin’ Brands Trading Down 5.1%

The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46. The firm has a market cap of $710.02 million, a price-to-earnings ratio of -75.99 and a beta of 1.30. The business has a 50 day moving average of $7.85 and a 200 day moving average of $10.72.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings data on Wednesday, May 7th. The restaurant operator reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 earnings per share. On average, research analysts forecast that Bloomin’ Brands, Inc. will post 1.8 earnings per share for the current fiscal year.

Bloomin’ Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 7.18%. The ex-dividend date is Tuesday, May 20th. Bloomin’ Brands’s payout ratio is -2,000.00%.

Insiders Place Their Bets

In other news, EVP Patrick M. Hafner sold 9,555 shares of Bloomin’ Brands stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $8.32, for a total value of $79,497.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bloomin’ Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in Bloomin’ Brands in the 4th quarter valued at $27,000. Public Employees Retirement System of Ohio acquired a new position in Bloomin’ Brands during the 4th quarter worth approximately $32,000. Meeder Asset Management Inc. acquired a new position in Bloomin’ Brands during the 4th quarter worth approximately $41,000. New Age Alpha Advisors LLC acquired a new position in Bloomin’ Brands during the 4th quarter worth approximately $45,000. Finally, GAMMA Investing LLC lifted its position in Bloomin’ Brands by 28.9% during the 1st quarter. GAMMA Investing LLC now owns 6,304 shares of the restaurant operator’s stock worth $45,000 after acquiring an additional 1,414 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.