Darden Restaurants, Inc. (NYSE:DRI) – Investment analysts at SunTrust Banks decreased their Q4 2021 earnings per share estimates for shares of Darden Restaurants in a research note issued to investors on Thursday, June 25th. SunTrust Banks analyst J. Bartlett now anticipates that the restaurant operator will post earnings of $1.10 per share for the quarter, down from their previous estimate of $1.27. SunTrust Banks has a “Buy” rating and a $100.00 price objective on the stock. SunTrust Banks also issued estimates for Darden Restaurants’ FY2022 earnings at $5.65 EPS.
Several other research analysts have also recently weighed in on DRI. Royal Bank of Canada decreased their price target 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. Loop Capital upped their price objective on Darden Restaurants from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Cfra reduced their price objective on Darden Restaurants from $120.00 to $58.00 and set a “hold” rating for the company in a research report on Wednesday, April 1st. Wells Fargo & Co upped their price objective on Darden Restaurants from $71.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, June 11th. Finally, Oppenheimer upped their price objective on Darden Restaurants from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Fifteen research 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. The stock presently has a consensus rating of “Buy” and a consensus target price of $90.48.
DRI stock opened at $75.77 on Monday. Darden Restaurants has a 1-year low of $26.15 and a 1-year high of $128.41. The business has a fifty day moving average price of $75.89 and a 200-day moving average price of $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 stock has a market capitalization of $8.81 billion, a P/E ratio of -189.43, a P/E/G ratio of 2.96 and a beta of 1.32.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Thursday, June 25th. The restaurant operator reported ($1.24) earnings per share 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 during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the business earned $1.76 earnings per share. The company’s revenue was down 43.5% on a year-over-year basis.
A number of institutional investors have recently made changes to their positions in the stock. Efficient Wealth Management LLC bought a new stake in shares of Darden Restaurants in the 1st quarter valued at approximately $26,000. First Financial Corp IN lifted its stake in shares of Darden Restaurants by 150.0% in the 1st quarter. First Financial Corp IN now owns 500 shares of the restaurant operator’s stock valued at $27,000 after purchasing an additional 300 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of Darden Restaurants in the 1st quarter valued at approximately $30,000. Allred Capital Management LLC lifted its stake in shares of Darden Restaurants by 120.1% in the 1st quarter. Allred Capital Management LLC now owns 724 shares of the restaurant operator’s stock valued at $39,000 after purchasing an additional 395 shares during the last quarter. Finally, Bartlett & Co. LLC bought a new stake in shares of Darden Restaurants in the 1st quarter valued at approximately $54,000. 88.12% of the stock is owned by institutional investors.
In other news, CFO Ricardo Cardenas purchased 2,991 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The stock was bought at an average cost of $58.50 per share, with a total value of $174,973.50. Following the completion of the purchase, the chief financial officer now owns 22,432 shares in the company, valued at $1,312,272. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Todd Burrowes purchased 2,564 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were purchased at an average cost of $58.50 per share, with a total value of $149,994.00. Following the completion of the purchase, the insider now owns 25,216 shares of the company’s stock, valued at approximately $1,475,136. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 37,178 shares of company stock valued at $2,174,913. 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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