Darden Restaurants Inc. (NYSE:DRI) – Equities research analysts at Jefferies Group raised their Q2 2017 EPS estimates for shares of Darden Restaurants in a report released on Tuesday. Jefferies Group analyst A. Barish now expects that the brokerage will post earnings per share of $0.63 for the quarter, up from their prior forecast of $0.61. Jefferies Group currently has a “Hold” rating and a $64.00 price target on the stock. Jefferies Group also issued estimates for Darden Restaurants’ Q4 2018 earnings at $1.22 EPS.
Other equities analysts also recently issued research reports about the stock. SunTrust Banks Inc. lowered their target price on shares of Darden Restaurants from $70.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday. Credit Suisse Group AG reiterated a “buy” rating and set a $69.00 target price on shares of Darden Restaurants in a research note on Wednesday. Bank of America Corp. reiterated a “sell” rating on shares of Darden Restaurants in a research note on Wednesday. BTIG Research reiterated a “buy” rating and set a $75.00 target price on shares of Darden Restaurants in a research note on Friday, July 1st. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $70.00 target price on shares of Darden Restaurants in a research note on Tuesday, June 28th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. Darden Restaurants presently has an average rating of “Hold” and a consensus target price of $70.26.
Darden Restaurants (NYSE:DRI) opened at 61.56 on Wednesday. Darden Restaurants has a 52 week low of $53.38 and a 52 week high of $68.68. The company has a market cap of $7.77 billion, a PE ratio of 21.24 and a beta of 0.41. The company has a 50-day moving average price of $61.96 and a 200 day moving average price of $63.83.
Darden Restaurants (NYSE:DRI) last released its earnings results on Tuesday, October 4th. The restaurant operator reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. The firm had revenue of $1.71 billion for the quarter. Darden Restaurants had a return on equity of 24.97% and a net margin of 5.73%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 EPS.
Hedge funds have recently added to or reduced their stakes in the stock. BB&T Securities LLC acquired a new stake in Darden Restaurants during the first quarter valued at approximately $2,002,000. Aviva PLC raised its stake in Darden Restaurants by 0.7% in the first quarter. Aviva PLC now owns 138,386 shares of the restaurant operator’s stock valued at $9,175,000 after buying an additional 1,025 shares in the last quarter. Huntington Asset Advisors Inc. acquired a new stake in Darden Restaurants during the first quarter valued at approximately $484,000. M&T Bank Corp raised its stake in Darden Restaurants by 6.3% in the first quarter. M&T Bank Corp now owns 236,846 shares of the restaurant operator’s stock valued at $15,703,000 after buying an additional 14,105 shares in the last quarter. Finally, Menta Capital LLC acquired a new stake in Darden Restaurants during the first quarter valued at approximately $537,000. Institutional investors and hedge funds own 94.57% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $2.24 annualized dividend and a yield of 3.64%. Darden Restaurants’s payout ratio is currently 72.03%.
Darden Restaurants Company Profile
Darden Restaurants, Inc is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).
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