Bloomin’ Brands (NASDAQ:BLMN) shares reached a new 52-week high and low on Thursday . The company traded as low as $24.90 and last traded at $24.65, with a volume of 433445 shares changing hands. The stock had previously closed at $24.71.
BLMN has been the topic of a number of recent research reports. TheStreet raised shares of Bloomin’ Brands from a “c” rating to a “b-” rating in a research note on Friday, February 23rd. ValuEngine raised shares of Bloomin’ Brands from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BidaskClub raised shares of Bloomin’ Brands from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. BMO Capital Markets set a $27.00 price objective on shares of Bloomin’ Brands and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, Deutsche Bank raised shares of Bloomin’ Brands from a “hold” rating to a “buy” rating in a research note on Friday, March 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Bloomin’ Brands currently has a consensus rating of “Hold” and a consensus target price of $22.78.
The firm has a market cap of $2,296.37, a P/E ratio of 18.15, a PEG ratio of 1.78 and a beta of 0.38. The company has a debt-to-equity ratio of 22.07, a quick ratio of 0.36 and a current ratio of 0.42.
Bloomin’ Brands (NASDAQ:BLMN) last announced its earnings results on Thursday, February 22nd. The restaurant operator reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.05 billion. Bloomin’ Brands had a net margin of 2.38% and a return on equity of 133.73%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 earnings per share. analysts expect that Bloomin’ Brands will post 1.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 14th. Stockholders of record on Monday, March 5th were issued a $0.09 dividend. The ex-dividend date was Friday, March 2nd. This represents a $0.36 annualized dividend and a dividend yield of 1.46%. This is an increase from Bloomin’ Brands’s previous quarterly dividend of $0.08. Bloomin’ Brands’s dividend payout ratio is currently 26.47%.
Bloomin’ Brands announced that its Board of Directors has approved a stock buyback plan on Thursday, February 22nd that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the restaurant operator to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In related news, EVP Donagh Herlihy sold 195,333 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $24.00, for a total transaction of $4,687,992.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Peter Schmidt sold 3,500 shares of the firm’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $22.50, for a total transaction of $78,750.00. Following the sale, the executive vice president now owns 7,916 shares of the company’s stock, valued at approximately $178,110. The disclosure for this sale can be found here. In the last quarter, insiders sold 520,970 shares of company stock valued at $12,373,870. 7.47% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado purchased a new stake in Bloomin’ Brands during the fourth quarter worth about $118,000. Vident Investment Advisory LLC purchased a new stake in Bloomin’ Brands during the fourth quarter worth about $203,000. Investors Research Corp purchased a new stake in Bloomin’ Brands during the fourth quarter worth about $208,000. JOYN Advisors Inc. purchased a new stake in Bloomin’ Brands during the fourth quarter worth about $215,000. Finally, Koch Industries Inc. purchased a new stake in Bloomin’ Brands during the fourth quarter worth about $218,000. Institutional investors and hedge funds own 98.49% of the company’s stock.
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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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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