Darden Restaurants (NYSE:DRI) Issues FY20 Earnings Guidance

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Darden Restaurants (NYSE:DRI) issued an update on its FY20 earnings guidance on Thursday morning. The company provided EPS guidance of $6.30-6.45 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.41. The company issued revenue guidance of +5.3-6..3% to $8.96-9.05 billion, compared to the consensus revenue estimate of $9.03 billion.Darden Restaurants also updated its FY 2020 guidance to $6.30-6.45 EPS.

Shares of Darden Restaurants stock opened at $120.68 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.61 and a debt-to-equity ratio of 0.39. The company has a market cap of $15.51 billion, a PE ratio of 20.74, a P/E/G ratio of 1.95 and a beta of 0.34. The business has a 50 day moving average of $121.76 and a 200 day moving average of $119.65. Darden Restaurants has a 52 week low of $95.83 and a 52 week high of $128.41.

Darden Restaurants (NYSE:DRI) last announced its earnings results on Thursday, September 19th. The restaurant operator reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.02. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. Darden Restaurants had a return on equity of 31.61% and a net margin of 8.38%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.34 earnings per share. On average, research analysts anticipate that Darden Restaurants will post 6.39 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $0.88 per share. The ex-dividend date is Wednesday, October 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.92%. Darden Restaurants’s dividend payout ratio is presently 60.48%.

A number of equities analysts recently commented on DRI shares. KeyCorp started coverage on Darden Restaurants in a report on Tuesday, July 23rd. They set an overweight rating and a $140.00 target price for the company. Piper Jaffray Companies restated an overweight rating and set a $128.00 target price (up previously from $125.00) on shares of Darden Restaurants in a report on Friday. Citigroup decreased their target price on Darden Restaurants from $146.00 to $144.00 and set a buy rating for the company in a report on Friday, June 28th. ValuEngine downgraded Darden Restaurants from a buy rating to a hold rating in a report on Thursday, August 1st. Finally, Deutsche Bank started coverage on Darden Restaurants in a report on Friday, June 28th. They set a hold rating and a $123.00 target price for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $126.07.

In other news, SVP John W. Madonna sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $124.12, for a total transaction of $124,120.00. Following the completion of the transaction, the senior vice president now directly owns 8,726 shares in the company, valued at $1,083,071.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel J. Kiernan sold 12,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $123.92, for a total value of $1,487,040.00. Following the transaction, the insider now owns 14,577 shares of the company’s stock, valued at $1,806,381.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,907 shares of company stock valued at $11,975,585. 0.47% of the stock is owned by corporate insiders.

About Darden Restaurants

Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 27, 2018, it owned and operated approximately 1,746 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Bahama Breeze, Seasons 52, and Eddie V's brands.

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Earnings History and Estimates for Darden Restaurants (NYSE:DRI)

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