Bloomin’ Brands (NASDAQ:BLMN) hit a new 52-week high and low during trading on Friday . The stock traded as low as $25.00 and last traded at $24.78, with a volume of 590615 shares changing hands. The stock had previously closed at $24.80.
Several equities research analysts recently commented on the company. William Blair reissued a “market perform” rating on shares of Bloomin’ Brands in a research note on Monday, January 22nd. Barclays reissued an “overweight” rating and issued a $25.00 price target (up previously from $21.00) on shares of Bloomin’ Brands in a research note on Tuesday, January 16th. Goldman Sachs reissued a “sell” rating on shares of Bloomin’ Brands in a research note on Friday, January 19th. Zacks Investment Research raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. Finally, Jefferies Group reissued a “hold” rating and issued a $23.00 price target on shares of Bloomin’ Brands in a research note on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Bloomin’ Brands currently has an average rating of “Hold” and an average target price of $22.78.
The company has a debt-to-equity ratio of 22.07, a current ratio of 0.42 and a quick ratio of 0.36. The firm has a market capitalization of $2,304.73, a price-to-earnings ratio of 18.15, a P/E/G ratio of 1.79 and a beta of 0.38.
Bloomin’ Brands (NASDAQ:BLMN) last posted its earnings results on Thursday, February 22nd. The restaurant operator reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.02. Bloomin’ Brands had a return on equity of 133.73% and a net margin of 2.38%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the company earned $0.31 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. equities research analysts forecast that Bloomin’ Brands will post 1.42 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 14th. Investors of record on Monday, March 5th were issued a $0.09 dividend. This is a positive change from Bloomin’ Brands’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Friday, March 2nd. Bloomin’ Brands’s payout ratio is 26.47%.
Bloomin’ Brands announced that its board has authorized a stock buyback program on Thursday, February 22nd that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the restaurant operator to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.
In other news, EVP Gregg Scarlett sold 45,846 shares of the company’s stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $24.23, for a total transaction of $1,110,848.58. Following the completion of the transaction, the executive vice president now directly owns 46,595 shares in the company, valued at $1,128,996.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Elizabeth A. Smith sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $23.36, for a total value of $3,504,000.00. Following the transaction, the chairman now owns 294,152 shares of the company’s stock, valued at $6,871,390.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 520,970 shares of company stock valued at $12,373,870. Corporate insiders own 7.47% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Public Employees Retirement Association of Colorado acquired a new position in shares of Bloomin’ Brands during the fourth quarter worth approximately $118,000. Boothbay Fund Management LLC acquired a new position in shares of Bloomin’ Brands during the third quarter worth approximately $181,000. Vident Investment Advisory LLC acquired a new position in shares of Bloomin’ Brands during the fourth quarter worth approximately $203,000. Investors Research Corp acquired a new position in shares of Bloomin’ Brands during the fourth quarter worth approximately $208,000. Finally, JOYN Advisors Inc. acquired a new position in shares of Bloomin’ Brands during the fourth quarter worth approximately $215,000. Institutional investors own 98.49% of the company’s stock.
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About Bloomin’ Brands
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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