Bloomin’ Brands Inc (NASDAQ:BLMN) was the recipient of a large drop in short interest in November. As of November 29th, there was short interest totalling 2,940,000 shares, a drop of 31.5% from the November 14th total of 4,290,000 shares. Based on an average trading volume of 1,060,000 shares, the days-to-cover ratio is presently 2.8 days. Currently, 3.7% of the shares of the stock are short sold.
Several research firms have weighed in on BLMN. Morgan Stanley lowered their price objective on shares of Bloomin’ Brands from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Friday, October 18th. ValuEngine upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Monday, September 16th. MKM Partners set a $20.00 price objective on shares of Bloomin’ Brands and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Deutsche Bank cut shares of Bloomin’ Brands from a “buy” rating to a “hold” rating and lowered their price objective for the company from $23.00 to $21.00 in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. cut shares of Bloomin’ Brands from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $21.00 to $25.00 in a research report on Thursday, November 7th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $21.20.
A number of institutional investors and hedge funds have recently made changes to their positions in BLMN. Tower Research Capital LLC TRC increased its holdings in Bloomin’ Brands by 71.8% during the third quarter. Tower Research Capital LLC TRC now owns 1,660 shares of the restaurant operator’s stock worth $31,000 after buying an additional 694 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Bloomin’ Brands by 1,720.4% in the third quarter. Steward Partners Investment Advisory LLC now owns 1,693 shares of the restaurant operator’s stock valued at $32,000 after purchasing an additional 1,600 shares during the last quarter. LS Investment Advisors LLC acquired a new position in shares of Bloomin’ Brands in the second quarter valued at $56,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Bloomin’ Brands by 26.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,604 shares of the restaurant operator’s stock valued at $106,000 after purchasing an additional 1,172 shares during the last quarter. Finally, Flinton Capital Management LLC acquired a new position in shares of Bloomin’ Brands in the second quarter valued at $135,000. 94.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:BLMN traded down $0.07 during trading on Wednesday, hitting $21.94. 835,631 shares of the company’s stock were exchanged, compared to its average volume of 1,488,191. Bloomin’ Brands has a 1-year low of $15.12 and a 1-year high of $24.29. The firm has a 50-day moving average price of $22.02 and a two-hundred day moving average price of $19.18. The company has a current ratio of 0.27, a quick ratio of 0.17 and a debt-to-equity ratio of 15.62. The firm has a market cap of $1.95 billion, a P/E ratio of 14.63, a PEG ratio of 1.46 and a beta of 0.34.
Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings results on Wednesday, November 6th. The restaurant operator reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. Bloomin’ Brands had a net margin of 2.75% and a return on equity of 89.62%. The company had revenue of $967.14 million during the quarter, compared to analysts’ expectations of $967.04 million. During the same quarter in the previous year, the company earned $0.08 EPS. Bloomin’ Brands’s revenue was up .2% on a year-over-year basis. As a group, research analysts predict that Bloomin’ Brands will post 1.57 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were paid a dividend of $0.10 per share. This is a positive change from Bloomin’ Brands’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.40 annualized dividend and a yield of 1.82%. Bloomin’ Brands’s dividend payout ratio (DPR) is presently 26.67%.
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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