Darden Restaurants, Inc. (NYSE:DRI) – Equities researchers at Jefferies Financial Group issued their Q1 2022 EPS estimates for shares of Darden Restaurants in a note issued to investors on Thursday, June 25th. Jefferies Financial Group analyst A. Barish expects that the restaurant operator will post earnings of $1.35 per share for the quarter. Jefferies Financial Group has a “Hold” rating and a $75.00 price target on the stock. Jefferies Financial Group also issued estimates for Darden Restaurants’ Q2 2022 earnings at $1.21 EPS, Q4 2022 earnings at $1.46 EPS and FY2022 earnings at $5.66 EPS.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Thursday, June 25th. The restaurant operator reported ($1.24) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.64) by $0.40. Darden Restaurants had a positive return on equity of 16.68% and a negative net margin of 0.67%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the company earned $1.76 EPS. The business’s revenue for the quarter was down 43.5% compared to the same quarter last year.
A number of other equities analysts have also commented on DRI. Morgan Stanley raised their price objective on shares of Darden Restaurants from $56.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Friday, June 26th. Guggenheim raised their target price on Darden Restaurants from $75.00 to $88.00 and gave the stock an “average” rating in a research report on Wednesday, May 20th. Raymond James upped their price target on Darden Restaurants from $75.00 to $90.00 and gave the company a “strong-buy” rating in a research report on Wednesday, May 20th. Royal Bank of Canada reduced their price objective on Darden Restaurants from $87.00 to $81.00 and set an “outperform” rating for the company in a research note on Monday, June 22nd. Finally, SunTrust Banks upped their target price on Darden Restaurants from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, June 26th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Darden Restaurants has an average rating of “Buy” and an average target price of $90.48.
Darden Restaurants stock opened at $75.77 on Monday. Darden Restaurants has a fifty-two week low of $26.15 and a fifty-two week high of $128.41. The firm’s 50 day simple moving average is $75.89 and its 200-day simple moving average is $87.61. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.41 and a quick ratio of 0.27. The company has a market cap of $8.81 billion, a P/E ratio of -189.43, a price-to-earnings-growth ratio of 2.96 and a beta of 1.32.
In other news, COO David C. George bought 4,273 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were purchased at an average price of $58.50 per share, for a total transaction of $249,970.50. Following the acquisition, the chief operating officer now directly owns 64,928 shares of the company’s stock, valued at approximately $3,798,288. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Eugene I. Lee, Jr. bought 25,641 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were purchased at an average cost of $58.50 per share, with a total value of $1,499,998.50. Following the transaction, the chief executive officer now owns 177,264 shares in the company, valued at $10,369,944. The disclosure for this purchase can be found here. Insiders purchased a total of 37,178 shares of company stock worth $2,174,913 over the last three months. 0.47% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of DRI. Efficient Wealth Management LLC acquired a new position in shares of Darden Restaurants during the 1st quarter worth about $26,000. First Financial Corp IN lifted its holdings in shares of Darden Restaurants by 150.0% during the first quarter. First Financial Corp IN now owns 500 shares of the restaurant operator’s stock worth $27,000 after buying an additional 300 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of Darden Restaurants during the first quarter worth approximately $30,000. Allred Capital Management LLC grew its stake in shares of Darden Restaurants by 120.1% in the first quarter. Allred Capital Management LLC now owns 724 shares of the restaurant operator’s stock worth $39,000 after acquiring an additional 395 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in Darden Restaurants by 38.8% during the fourth quarter. Penserra Capital Management LLC now owns 840 shares of the restaurant operator’s stock worth $96,000 after acquiring an additional 235 shares during the period. Institutional investors and hedge funds own 88.12% of the company’s stock.
Darden Restaurants Company Profile
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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