Bloomin’ Brands Inc (NASDAQ:BLMN) declared a quarterly dividend on Tuesday, July 23rd, NASDAQ reports. Investors 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 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Friday, August 9th.
Bloomin’ Brands has raised its dividend 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 dividend payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. 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%.
Bloomin’ Brands stock traded down $0.19 during midday trading on Wednesday, hitting $16.45. 561 shares of the stock were exchanged, compared to its average volume of 1,593,440. The firm has a fifty day moving average price of $17.95. Bloomin’ Brands has a 52 week low of $16.49 and a 52 week high of $22.22. The stock has a market capitalization of $1.58 billion, a PE ratio of 10.87, a PEG ratio of 1.13 and a beta of 0.23. The company has a debt-to-equity ratio of 9.20, a current ratio of 0.30 and a quick ratio of 0.21.
A number of brokerages have weighed in on BLMN. BidaskClub raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets lowered shares of Bloomin’ Brands from a “market perform” rating to an “underperform” rating and cut their price target for the company from $23.00 to $18.00 in a research note on Thursday, May 23rd. JPMorgan Chase & Co. cut their price target on shares of Bloomin’ Brands from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, June 28th. Tigress Financial reaffirmed a “buy” rating on shares of Bloomin’ Brands in a research note on Thursday, April 18th. Finally, ValuEngine lowered shares of Bloomin’ Brands from a “hold” rating to a “sell” rating in a research note on Monday, July 8th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price 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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