Darden Restaurants, Inc. (NYSE:DRI) – Analysts at SunTrust Banks upped their Q2 2018 earnings per share (EPS) estimates for shares of Darden Restaurants in a research note issued on Monday. SunTrust Banks analyst J. Bartlett now expects that the restaurant operator will post earnings of $0.74 per share for the quarter, up from their prior forecast of $0.68. SunTrust Banks has a “Hold” rating and a $94.00 price objective on the stock. SunTrust Banks also issued estimates for Darden Restaurants’ Q4 2018 earnings at $1.31 EPS, FY2018 earnings at $4.49 EPS and FY2019 earnings at $5.07 EPS.
A number of other equities research analysts have also recently weighed in on DRI. Canaccord Genuity reaffirmed a “buy” rating and issued a $97.00 price objective on shares of Darden Restaurants in a research note on Wednesday, September 27th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $88.00 price objective (down from $93.00) on shares of Darden Restaurants in a research note on Wednesday, September 27th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $85.00 price objective (down from $87.00) on shares of Darden Restaurants in a research note on Wednesday, September 27th. Wells Fargo & Company dropped their price objective on Darden Restaurants from $90.00 to $84.00 and set a “market perform” rating for the company in a research note on Wednesday, September 27th. Finally, Royal Bank of Canada dropped their price objective on Darden Restaurants from $96.00 to $90.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $88.91.
Darden Restaurants (NYSE:DRI) last posted its earnings results on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.99. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Darden Restaurants had a return on equity of 26.06% and a net margin of 6.60%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.52 dividend on an annualized basis and a yield of 2.85%. Darden Restaurants’s dividend payout ratio (DPR) is presently 65.12%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. D.A. Davidson & CO. lifted its holdings in Darden Restaurants by 1.7% during the 2nd quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock worth $114,000 after buying an additional 21 shares during the last quarter. M&R Capital Management Inc. purchased a new stake in Darden Restaurants during the 2nd quarter worth about $108,000. Moisand Fitzgerald Tamayo LLC purchased a new stake in Darden Restaurants during the 3rd quarter worth about $115,000. Grove Bank & Trust lifted its holdings in Darden Restaurants by 155.6% during the 3rd quarter. Grove Bank & Trust now owns 1,840 shares of the restaurant operator’s stock worth $145,000 after buying an additional 1,120 shares during the last quarter. Finally, First National Trust Co. purchased a new stake in Darden Restaurants during the 2nd quarter worth about $217,000. 91.94% of the stock is owned by institutional investors.
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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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