Bloomin’ Brands (NASDAQ:BLMN) Shares Gap Down on Disappointing Earnings

Bloomin’ Brands, Inc. (NASDAQ:BLMN) gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $24.96, but opened at $24.16. Bloomin’ Brands shares last traded at $23.85, with a volume of 199,759 shares.

The restaurant operator reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.05). The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Bloomin’ Brands had a return on equity of 73.67% and a net margin of 5.30%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 earnings per share.

Bloomin’ Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Friday, May 17th. Bloomin’ Brands’s dividend payout ratio is presently 37.94%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BLMN shares. UBS Group lowered their target price on shares of Bloomin’ Brands from $30.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday. Citigroup upped their target price on shares of Bloomin’ Brands from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Barclays lowered their target price on shares of Bloomin’ Brands from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. lowered shares of Bloomin’ Brands from an “overweight” rating to a “neutral” rating and set a $26.00 target price on the stock. in a report on Tuesday, January 23rd. Finally, BMO Capital Markets cut their price target on shares of Bloomin’ Brands from $29.00 to $27.00 and set a “market perform” rating on the stock in a report on Wednesday. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Bloomin’ Brands currently has a consensus rating of “Hold” and an average price target of $27.50.

Institutional Trading of Bloomin’ Brands

Institutional investors have recently modified their holdings of the business. Headlands Technologies LLC purchased a new stake in shares of Bloomin’ Brands during the 1st quarter valued at approximately $30,000. EverSource Wealth Advisors LLC lifted its stake in shares of Bloomin’ Brands by 683.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the restaurant operator’s stock valued at $31,000 after buying an additional 1,100 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Bloomin’ Brands in the 3rd quarter worth approximately $32,000. TFO Wealth Partners LLC lifted its stake in Bloomin’ Brands by 284,000.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,841 shares of the restaurant operator’s stock worth $80,000 after purchasing an additional 2,840 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in Bloomin’ Brands by 23.5% in the 3rd quarter. Assetmark Inc. now owns 4,026 shares of the restaurant operator’s stock worth $99,000 after purchasing an additional 765 shares in the last quarter.

Bloomin’ Brands Stock Down 3.8 %

The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.27 and a current ratio of 0.34. The firm has a market capitalization of $2.00 billion, a PE ratio of 9.09, a PEG ratio of 9.85 and a beta of 2.02. The company’s 50 day simple moving average is $27.38 and its 200-day simple moving average is $26.15.

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.