Bloomin’ Brands (NASDAQ:BLMN) PT Lowered to $22.00 at Morgan Stanley

Bloomin’ Brands (NASDAQ:BLMN) had its price target reduced by Morgan Stanley from $26.00 to $22.00 in a research note released on Tuesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the restaurant operator’s stock.

Several other research analysts have also issued reports on the stock. UBS Group decreased their price target on shares of Bloomin’ Brands from $30.00 to $26.00 and set a neutral rating on the stock in a research report on Wednesday, May 8th. JPMorgan Chase & Co. decreased their target price on Bloomin’ Brands from $26.00 to $24.00 and set a neutral rating on the stock in a report on Tuesday, May 28th. BMO Capital Markets reduced their target price on Bloomin’ Brands from $29.00 to $27.00 and set a market perform rating for the company in a report on Wednesday, May 8th. Finally, Barclays dropped their price target on Bloomin’ Brands from $32.00 to $30.00 and set an overweight rating on the stock in a research note on Wednesday, May 8th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bloomin’ Brands currently has an average rating of Hold and a consensus price target of $26.90.

Bloomin’ Brands Trading Up 2.3 %

Shares of Bloomin’ Brands stock opened at $19.70 on Tuesday. The business has a fifty day simple moving average of $20.06 and a 200-day simple moving average of $24.58. Bloomin’ Brands has a fifty-two week low of $16.20 and a fifty-two week high of $30.13. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 30.78 and a beta of 2.04. The company has a quick ratio of 0.26, a current ratio of 0.33 and a debt-to-equity ratio of 3.12.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings results on Tuesday, May 7th. The restaurant operator reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.05). The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Bloomin’ Brands had a net margin of 1.56% and a return on equity of 65.73%. Bloomin’ Brands’s revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 earnings per share. On average, equities analysts forecast that Bloomin’ Brands will post 2.4 EPS for the current fiscal year.

Bloomin’ Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $0.96 dividend on an annualized basis and a yield of 4.87%. Bloomin’ Brands’s payout ratio is presently 150.00%.

Hedge Funds Weigh In On Bloomin’ Brands

Large investors have recently made changes to their positions in the business. Annex Advisory Services LLC lifted its position in shares of Bloomin’ Brands by 27.7% in the first quarter. Annex Advisory Services LLC now owns 295,261 shares of the restaurant operator’s stock worth $8,468,000 after purchasing an additional 64,006 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in Bloomin’ Brands in the 1st quarter valued at approximately $2,042,000. Dimensional Fund Advisors LP lifted its position in Bloomin’ Brands by 4.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,509,269 shares of the restaurant operator’s stock worth $70,637,000 after buying an additional 104,368 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Bloomin’ Brands by 34.9% during the 4th quarter. First Eagle Investment Management LLC now owns 163,419 shares of the restaurant operator’s stock valued at $4,600,000 after buying an additional 42,315 shares during the period. Finally, Lighthouse Investment Partners LLC purchased a new position in shares of Bloomin’ Brands during the 4th quarter valued at $4,222,000.

Bloomin’ Brands Company Profile

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.