Darden Restaurants Inc. (NYSE:DRI) – Investment analysts at KeyCorp boosted their Q1 2017 earnings estimates for shares of Darden Restaurants in a research report issued to clients and investors on Tuesday. KeyCorp analyst C. O’cull now forecasts that the brokerage will post earnings of $0.88 per share for the quarter, up from their previous forecast of $0.81. KeyCorp also issued estimates for Darden Restaurants’ FY2017 earnings at $3.93 EPS.
A number of other research firms also recently commented on DRI. Deutsche Bank AG reiterated a “buy” rating and set a $76.00 price objective on shares of Darden Restaurants in a research note on Tuesday, July 5th. BMO Capital Markets reiterated a “market perform” rating and set a $64.00 price objective (down from $66.00) on shares of Darden Restaurants in a research note on Tuesday, July 5th. SunTrust Banks Inc. reduced their price objective on shares of Darden Restaurants from $70.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday. Stifel Nicolaus downgraded shares of Darden Restaurants from a “hold” rating to a “sell” rating and set a $53.00 price objective on the stock. in a research note on Tuesday, July 26th. Finally, Zacks Investment Research upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research note on Wednesday, June 15th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $70.26.
Darden Restaurants (NYSE:DRI) opened at 61.56 on Wednesday. The stock has a market capitalization of $7.77 billion, a P/E ratio of 21.24 and a beta of 0.41. Darden Restaurants has a 52-week low of $53.38 and a 52-week high of $68.68. The company’s 50-day moving average price is $61.96 and its 200 day moving average price is $63.83.
Darden Restaurants (NYSE:DRI) last released its earnings results on Tuesday, October 4th. The restaurant operator reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.06. The company 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%. Darden Restaurants’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Wednesday, October 5th. Darden Restaurants’s dividend payout ratio (DPR) is currently 72.03%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DRI. CENTRAL TRUST Co increased its position in 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 period. Krilogy Financial LLC boosted its stake in 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 in the last quarter. Pacer Advisors Inc. boosted its stake in 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 in the last quarter. M&R Capital Management Inc. bought a new stake in Darden Restaurants during the second quarter valued at approximately $158,000. Finally, Citizens Financial Group Inc RI boosted its stake in 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 in the last quarter. 94.57% of the stock is currently owned by institutional investors and hedge funds.
About Darden Restaurants
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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