Darden Restaurants Price Target Cut to $49.00 by Analysts at Telsey Advisory Group (DRI)
Investment analysts at Telsey Advisory Group dropped their price objective on shares of Darden Restaurants (NYSE:DRI) from $54.00 to $49.00 in a note issued to investors on Monday, AnalystRatingsNetwork.com reports. The firm currently has a “not rated” rating on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 7.03% from the company’s current price.
DRI has been the subject of a number of other recent research reports. Analysts at Stephens downgraded shares of Darden Restaurants (NYSE:DRI) from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday. Separately, analysts at Janney Montgomery Scott cut their price target on shares of Darden Restaurants (NYSE:DRI) from $57.00 to $54.00 in a research note to investors on Sunday. They now have a “buy” rating on the stock. Finally, analysts at Miller Tabak cut their price target on shares of Darden Restaurants (NYSE:DRI) from $57.00 to $55.00 in a research note to investors on Friday. They now have a “buy” rating on the stock.
Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $50.79.
Darden Restaurants (NYSE:DRI) opened at 45.78 on Monday. Darden Restaurants has a 52-week low of $44.11 and a 52-week high of $57.07. The stock’s 50-day moving average is $48.02 and its 200-day moving average is $50.14. The company has a market cap of $5.961 billion and a price-to-earnings ratio of 16.26.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Friday, September 20th. The company reported $0.53 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.70 by $0.17. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the company posted $0.85 earnings per share. Darden Restaurants’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Darden Restaurants will post $2.94 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 4.81%.
Darden Restaurants, Inc (NYSE:DRI) is a company owned and full-service restaurant company.
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