In a challenging market environment, Bloomin' Brands Inc. (NASDAQ:BLMN) stock has touched a 52-week low, dipping to $11.7. This latest price level reflects a significant downturn for the company, which has seen its stock value decrease by -55.99% over the past year. According to InvestingPro data, the stock's RSI indicates oversold territory, while maintaining a notable 8% dividend yield. The company's current market capitalization stands at approximately $1 billion. The restaurant company, known for its portfolio of casual dining brands, has been navigating a complex landscape of rising costs and changing consumer habits, factors that have contributed to the stock's underperformance. Investors are closely monitoring the company's strategic moves to weather the current economic headwinds and recover from this low point. InvestingPro analysis suggests the stock is currently undervalued, with 12 additional exclusive insights available to subscribers through the comprehensive Pro Research Report.
In other recent news, Bloomin' Brands reported a decline in its fiscal third-quarter 2024 revenue and earnings per share (EPS), with revenues falling by 4% year-over-year to $1 billion and adjusted diluted EPS dropping from $0.41 in 2023 to $0.21. The company also revised its full-year 2024 guidance, projecting an adjusted diluted EPS between $1.72 and $1.82. Goldman Sachs initiated coverage on Bloomin' Brands with a Sell rating, citing concerns about the company's growth prospects, specifically for its core brand, Outback Steakhouse. The firm also noted potential financial implications from the proposed sale of a significant portion of Bloomin' Brands' Brazil operations. Analysts from BMO Capital and Piper Sandler maintained their neutral ratings on Bloomin' Brands but reduced their price targets from $20.00 to $16.00. These are among the recent developments for Bloomin' Brands.
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