Bloomin' Brands (BLMN) Sets New 1-Year High at $22.22

Bloomin' Brands Inc (NASDAQ:BLMN) shares reached a new 52-week high on Monday . The company traded as high as $22.22 and last traded at $21.43, with a volume of 982100 shares trading hands. The stock had previously closed at $21.47.

A number of research analysts have weighed in on the company. Bank of America downgraded Bloomin' Brands from a “buy” rating to a “neutral” rating and set a $21.00 price target for the company. in a research note on Wednesday, November 22nd. Barclays reduced their target price on Bloomin' Brands from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 18th. Jefferies Group reiterated a “hold” rating and set a $19.00 target price on shares of Bloomin' Brands in a research note on Thursday, October 12th. Zacks Investment Research downgraded Bloomin' Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Finally, ValuEngine downgraded Bloomin' Brands from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Bloomin' Brands presently has an average rating of “Hold” and an average price target of $21.00.

The stock has a market cap of $2,021.62, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.33 and a beta of 0.65. The company has a debt-to-equity ratio of 31.17, a current ratio of 0.36 and a quick ratio of 0.29.

Bloomin' Brands (NASDAQ:BLMN) last released its quarterly earnings results on Friday, November 3rd. The restaurant operator reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.04). The firm had revenue of $948.90 million for the quarter, compared to analyst estimates of $944.30 million. Bloomin' Brands had a return on equity of 94.30% and a net margin of 1.93%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 earnings per share. analysts predict that Bloomin' Brands Inc will post 1.33 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Monday, November 13th were issued a dividend of $0.08 per share. This is a boost from Bloomin' Brands’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a yield of 1.43%. The ex-dividend date was Friday, November 10th. Bloomin' Brands’s dividend payout ratio (DPR) is presently 41.56%.

In other Bloomin' Brands news, CEO Elizabeth A. Smith sold 1,700 shares of Bloomin' Brands stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $17.00, for a total value of $28,900.00. Following the completion of the transaction, the chief executive officer now directly owns 82,935 shares of the company’s stock, valued at approximately $1,409,895. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Elizabeth A. Smith sold 100,000 shares of Bloomin' Brands stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $17.00, for a total value of $1,700,000.00. Following the completion of the transaction, the chairman now directly owns 82,935 shares of the company’s stock, valued at $1,409,895. The disclosure for this sale can be found here. Over the last three months, insiders have sold 126,700 shares of company stock valued at $2,240,650. 7.04% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in BLMN. Jana Partners LLC bought a new position in shares of Bloomin' Brands in the 3rd quarter valued at $73,480,000. Earnest Partners LLC grew its position in Bloomin' Brands by 1.7% during the 3rd quarter. Earnest Partners LLC now owns 4,023,699 shares of the restaurant operator’s stock worth $70,817,000 after acquiring an additional 68,511 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Bloomin' Brands by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,960,065 shares of the restaurant operator’s stock worth $52,097,000 after acquiring an additional 23,110 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Bloomin' Brands by 0.4% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,270,893 shares of the restaurant operator’s stock worth $39,968,000 after acquiring an additional 8,286 shares during the last quarter. Finally, State Street Corp grew its position in Bloomin' Brands by 2.3% during the 2nd quarter. State Street Corp now owns 2,163,384 shares of the restaurant operator’s stock worth $45,931,000 after acquiring an additional 48,043 shares during the last quarter.

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About Bloomin' Brands

Bloomin’ Brands, Inc is a holding company. The Company owns and operates casual, upscale casual and fine dining restaurants. The Company operates through two segments: U.S. and International. The U.S. segment includes all brands operating in the United States. The International segment includes brands operating outside the United States.

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