Bloomin’ Brands, Inc. (NASDAQ:BLMN) Announces $0.24 Quarterly Dividend

Bloomin’ Brands, Inc. (NASDAQ:BLMN) declared a quarterly dividend on Monday, November 11th,Wall Street Journal reports. Stockholders of record on Monday, November 25th will be given a dividend of 0.24 per share by the restaurant operator on Wednesday, December 11th. This represents a $0.96 annualized dividend and a dividend yield of 6.98%. The ex-dividend date of this dividend is Monday, November 25th.

Bloomin’ Brands has increased its dividend by an average of 68.7% annually over the last three years. Bloomin’ Brands has a payout ratio of 42.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bloomin’ Brands to earn $2.25 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 42.7%.

Bloomin’ Brands Price Performance

Shares of NASDAQ BLMN opened at $13.76 on Tuesday. The stock’s 50-day simple moving average is $16.42 and its 200-day simple moving average is $18.77. The firm has a market capitalization of $1.17 billion, a PE ratio of -124.44 and a beta of 2.04. Bloomin’ Brands has a fifty-two week low of $13.63 and a fifty-two week high of $30.13. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.26 and a current ratio of 0.35.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings data on Friday, November 8th. The restaurant operator reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. Bloomin’ Brands had a net margin of 0.70% and a return on equity of 61.90%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the company earned $0.44 earnings per share. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, equities research analysts forecast that Bloomin’ Brands will post 1.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BLMN. Morgan Stanley reduced their price target on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. UBS Group decreased their target price on Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Citigroup dropped their price target on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. Bank of America reduced their price objective on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Finally, Piper Sandler lowered their target price on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.70.

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.