Bloomin’ Brands Inc (NASDAQ:BLMN) announced a quarterly dividend on Tuesday, July 23rd, NASDAQ reports. Shareholders of record on Monday, August 12th will be given a dividend of 0.10 per share by the restaurant operator on Wednesday, August 21st. This represents a $0.40 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Friday, August 9th.
Bloomin’ Brands has raised its dividend payment by an average of 14.5% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Bloomin’ Brands has a payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bloomin’ Brands to earn $1.70 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 23.5%.
BLMN stock opened at $16.50 on Wednesday. The company has a debt-to-equity ratio of 9.20, a current ratio of 0.30 and a quick ratio of 0.21. Bloomin’ Brands has a 52-week low of $16.49 and a 52-week high of $22.22. The company’s 50-day moving average price is $17.95. The company has a market capitalization of $1.58 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 1.13 and a beta of 0.23.
A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Bloomin’ Brands from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, June 28th. Deutsche Bank assumed coverage on shares of Bloomin’ Brands in a report on Friday, June 28th. They set a “buy” rating and a $24.00 price target for the company. BidaskClub upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Tuesday. Tigress Financial restated a “buy” rating on shares of Bloomin’ Brands in a report on Thursday, April 18th. Finally, TheStreet cut shares of Bloomin’ Brands from a “b-” rating to a “c+” rating in a report on Monday. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $21.50.
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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