Darden Restaurants Inc. (NYSE:DRI) – Equities researchers at KeyCorp boosted their Q2 2017 earnings per share (EPS) estimates for shares of Darden Restaurants in a report released on Tuesday. KeyCorp analyst C. O’cull now anticipates that the firm will post earnings of $0.63 per share for the quarter, up from their previous forecast of $0.57. KeyCorp also issued estimates for Darden Restaurants’ Q3 2017 earnings at $1.27 EPS and Q4 2017 earnings at $1.15 EPS.
Several other equities analysts have also recently weighed in on the company. Wells Fargo & Co. cut Darden Restaurants from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $72.00 to $68.00 in a research note on Wednesday, July 13th. Stifel Nicolaus cut Darden Restaurants from a “hold” rating to a “sell” rating and set a $53.00 target price on the stock. in a research note on Tuesday, July 26th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $76.00 target price (down from $78.00) on shares of Darden Restaurants in a research note on Saturday, July 2nd. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $70.00 target price on shares of Darden Restaurants in a research note on Wednesday, September 7th. Finally, Canaccord Genuity assumed coverage on Darden Restaurants in a research note on Monday, August 22nd. They set a “buy” rating and a $74.00 target price on the stock. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the stock. Darden Restaurants has a consensus rating of “Hold” and a consensus target price of $69.89.
Darden Restaurants (NYSE:DRI) traded down 0.8449% during trading on Thursday, hitting $61.0399. 1,037,168 shares of the company traded hands. The company has a market capitalization of $7.70 billion, a P/E ratio of 21.0628 and a beta of 0.41. Darden Restaurants has a 12-month low of $53.38 and a 12-month high of $68.68. The stock 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 quarterly earnings results on Tuesday, October 4th. The restaurant operator reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.06. Darden Restaurants had a net margin of 5.73% and a return on equity of 24.97%. The business had revenue of $1.71 billion for the quarter. During the same quarter last year, the company posted $0.68 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be given a $0.56 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.64%. Darden Restaurants’s payout ratio is 72.03%.
A number of hedge funds have recently added to or reduced their stakes in the company. CENTRAL TRUST Co increased its stake in shares of Darden Restaurants by 16.5% in the second quarter. CENTRAL TRUST Co now owns 1,799 shares of the restaurant operator’s stock valued at $114,000 after buying an additional 255 shares during the last quarter. Krilogy Financial LLC increased its stake in shares of Darden Restaurants by 1.6% in the second quarter. Krilogy Financial LLC now owns 2,133 shares of the restaurant operator’s stock valued at $135,000 after buying an additional 33 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Darden Restaurants by 9.0% in the second quarter. Pacer Advisors Inc. now owns 2,369 shares of the restaurant operator’s stock valued at $150,000 after buying an additional 195 shares during the last quarter. M&R Capital Management Inc. bought a new stake in shares of Darden Restaurants during the second quarter valued at $158,000. Finally, Citizens Financial Group Inc RI increased its stake in shares of Darden Restaurants by 320.0% in the first quarter. Citizens Financial Group Inc RI now owns 2,520 shares of the restaurant operator’s stock valued at $167,000 after buying an additional 1,920 shares during the last quarter. Institutional investors own 94.57% of the company’s stock.
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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